REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
February 27, 2024
FROM
VICTOR TORDESILLAS, Deputy Executive Officer, Department of Risk Management
SUBJECT
Title
Renewal of Property Insurance Coverage for County Buildings Through Public Risk Innovation, Solutions, and Management
End
RECOMMENDATION(S)
Recommendation
1. Approve the renewal of the County's Property Insurance coverage through Public Risk Innovation, Solutions, and Management, as recommended by Alliant Insurance Services, Inc., with shared coverage limits of $600 million for all-risk exposures and $200 million in excess of $600 million for all risk for Arrowhead Regional Medical Center, $300 million for flood damage, $665 million for earthquake damage, and $750 million for terrorism damage, for a total premium of approximately $26,930,360 applicable to all County properties, for the period of March 31, 2024 through March 31, 2025.
2. Authorize the Deputy Executive Officer of the Department of Risk Management to receive and accept the insurance binder, on behalf of the County, subject to review by County Counsel.
(Presenter: Victor Tordesillas, Deputy Executive Officer, 386-8621)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Operate in a Fiscally-Responsible and Business-Like Manner.
Pursue County Goals and Objectives by Working with Other Agencies and Stakeholders.
FINANCIAL IMPACT
Approval of this item will result in the use of Discretionary General Funding (Net County Cost). The total premium, which is estimated to be $26,930,360, is due in July 2024 and will be paid from the following Department of Risk Management (DRM) property insurance funds: County (4080), Special Districts (4088), and Flood Control (4106). The premium will be recovered through the Board of Supervisors' (Board) approved rates charged to County departments and Board Governed Special Districts. A future item that will include the 2024-25...
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