Here is all we know about the School District Premiums; from hereon out, the Town will have to go to FMIT

It always surprises me the differences in insurance brokers in the South  as compared to the Midwest and West.   The Hamilton County School District Premium breakdown was given to Joe on the 24th.  When we received it, we asked whether we could receive only a premium breakdown for S.H.E.   Now if they had provided the Total Values of all the Schools, I could have worked up an estimate, but as you will see, all I have is a total premium for all lines of coverage. It could also be a property limit per occurrence and that is why there is an Excess Property premium.  AIG has their own forms.

Since the building liability will be a “Lessor’s Risk” based upon area of each of the four buildings,   But as you will note from my previous blog post relating to the limits of insurance provided as well as building ordinance coverage, Agreed Value, replacement coverage, Risks of Direct Physical Loss perils subject to exclusions and a $200,000 deductible including Windstorm with a 2% Named Hurricane deductible.  SHE also had personal property coverage (contents) of   $9,556,969, but I am certain their property will be removed and glass breakage for all panes on the building.  Also Mechanical Breakdown is covered as a separate policy.  And in looking on line, I did not notice Named Hurricane coverage being provided by FMIT so I am not certain it can be provided by FMIT, but they are able to contact brokers for Hurricane, like Citizens Insurance and brokers who will provide a higher limit than $200,000/300,000. .What FMIT is now providing per their site is defense outside the limit, which previously the general liability policy I reviewed for the Town did not have. defense outside of the limit.

When saying there is a difference in brokers, an Agent or Broker usually is provided worksheets, even though the premiums for a specific program like “Schools” may be slot rated rather than utilizing ISO rates.  The AIG was a company in San Francisco I worked with to provide environmental protection policies and some Superfund coverage, as well as all lines for an explosive booster company outside of Reno/Sparks across from the Mustang Ranch. Their rates and our negotiated pricing beat another agent’s pricing who was the agent for seventeen years.  I know they are competitive.


104,653.44  Excess Property

$         640.32  Stand Alone Terrorism

$      7,047.62   Excess Workers’ Compensation

$            35.76   Excess Workers’ Compensation Audit

$           482.80  Crime

$       1,982.86   Boiler and Machinery (SHE does not have a boiler so the mechanical breakdown coverage now provided is at a cost of $195.00

$        8,199.61   Errors and Omissions

$        2,901.93    Cyber Coverage

$       26,977.38    NEFEC Budget

$          6,675.42    TPA Fee

$          4,590.46     Workers Compensation State Assessment Fee

$                28.78     State Assessment – Citizen’s Property

$           2,046.25     Blanket Catastrophic Student Accident

$          19,302.57    Premier Package ($11,582 Workers Comp; $3861 Package Liability $3,861 Auto)

$          197,585.37  Loss Fund Property ($2,171 Property; $157,278 Workers Comp; $30,823 Liability and $7,311 Auto Liability)


$           383,150.56    TOTAL      


As noted in the State Assessments, Citizens Insurance Group of Florida provides the Hurricane coverage. You as the Town may or may not be required to be provided Hurricane Coverage and trust me, FMIT may have to broker it for you because the application to binder process is pure hell for some and I know this from my own experience.  Yet I hope it is better today.  I started working with Citizens almost at the inception when other insurers were unwilling to provide Hurricane coverage for the condos in the Miami/ Ft. Lauderdale area.

Stacy Please provide this blog post to Spencer, yourself and the attorney.  This specific information is provided only is a guide because our premiums will probably be around $15,000-20,000 but if you chose or have to have hurricane that is another story. This includes all the Schools under the School Board, and we only need premiums from FMIT or their broker on SHE.  The other coverages, many of which you have under FMIT will just add this location.  If you have not already done so, please provide the coverage limits with my brief explanation of the symbols shown to everyone, which I also have on the blog.   Also find Martha Butler’s information on a post which gives the areas of the buildings.
It now depends on what the contract will require and you will find out after the meeting on the 28th.
If I can be of any assistance, let me know.  Otherwise, I know you can handle it. But even though our mayor told us he knows everything there  is to know, for your own sake, check what he does.


Karin for the Blog

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