1. Board of Trustees of the Galveston Wharves
2019/2020 Insurance Renewal Presentation
Port Property, Excess Port Property, Terrorism, Police Professional,
Cyber & Workers Compensation
Presented by:
Cindi Heffernan, CPCU
McGriff, Seibels & Williams, Inc.
7525 SE 24th St., Suite 520
Mercer Island, WA 98040

2. Discussion Points 1. Evaluation of Expiring Program
2. Marketing Efforts
3. Program Review & Pricing
4. Additional Options

3. Evaluation of Expiring Program
Property Coverage:
Limits – Primary layer $10,000,000
1st Excess layer $15,000,000
2nd Excess layer $25,000,000
3rd Excess layer $25,000,000
Total Limit of Coverage: $75,000,000
Coverage quoted to include All Risk Perils (AOP), Named Storm, Flood and Earthquake.
After receipt & review of 3rd layer Excess Property
we discovered there was only $10M x $50M named wind and no flood or earthquake. Actual limits:
All Risk Perils: $75M
Named Storm: $60M
Flood: $50M
Earthquake: $50M
AOP deductible increased from $100k to $1M
Named Storm, Flood, EQ deductible 5% of values sustaining damage with a minimum of $1M, no maximum

4. Marketing Efforts Property Coverage: Underwriters: MPorts Plus
WaveLength
Lloyds
Domestic
Challenges:
Continuity Credit Payback $170k
2018 Pricing based on no excess Cat. Cover
Hurricane Harvey claim
Highlights:
Eliminated some Sub- Limits: Business Interruption, Extra Expense, Newly Acquired, Etc.
Decreased AOP deductible from $1M to $100k
Decreased other deductibles from $M to $250,000
(earthquake, dredging, etc.)
Capped Named Windstorm, Flood & EQ at $5M
Added Law Enforcement Liability to MPorts Liability policy
Premium savings of $91,569

5. Program Review & Pricing
Board of Trustees of the Galveston Wharves - Port of Galveston
2019 Premium & Limit Comparison - March 1st Effective
2018 Expiring
2019 Trended
2019 Renewal (Proposed)
Primary Port Property
Wavelength & Standard
Wavelength & MPortsPlus
Exposure: Total Insured Value
$297,258,090
$299,258,091
Limit
$10,000,000
AOP Deductible
$1,000,000
$100,000
Named Storm & Flood Deductible 5%
$1M Min/No Max
$1M Min/$5M Max
Premium*
$928,135
**10% Credit Applied
$934,380
$855,000
Excess Port Property
Excess Layer 1
$15,000,000
Underlying
Primary
$412,594
$415,370
Excess Layer 2
$25,000,000
Primary + Excess 1
$332,500
***5% Credit Applied
$334,737
Lexington
RSUI & Lloyds Underwriters
Excess Layer 3
$10M Windstorm
$50,000,000
Primary + Excess 1 & 2
$165,000
$166,110
$125,000
N/A
RSUI
Excess Layer 4
Excludes CAT Coverages
$60,000,000
Primary + Excess 1, 2 & 3
$40,000
Terrorism
Lloyds (Various)
Terrorism Limit
$75,000,000
Deductible
$25,000
$16,400
$16,510
Law Enforcement Liability
Indian Harbor/XL
MPortsPlus
Exposure: Operating Revenue
$34,488,872
$37,770,000
Limit of Liability - Aggregate
$2,000,000
Retention
$50,000
$10,000
$30,755
$33,681
$5,000
Endorsement to Port Liability
Cyber Liability
Hiscox
Limit of Liability
$3,798
$4,159
Workers Compensation - Port of Galveston
Texas Mutual
Exposure: Payroll
$5,597,480
$5,385,944
Experience Mod
0.90
1.13
State/Limit
Texas
Statutory
Employers Liability Limit
In Network/Out of Network
In Network
Premium
$98,642
$94,914
$106,465
15% Deposit & 11 Monthly Reports
Workers Compensation - Galveston Port Facilities Corp.
$538,001
$539,475
$12,336
$12,370
$11,834
33% Deposit & 3 Quarterly Reports
Total Package Premium
$2,000,160
$2,012,231
$1,908,591
Difference from Expiring
$12,071
($91,569)
Difference from Trended
($103,640)

6. Additional Options Property Coverage:
Limits – Primary layer $10,000,000
1st Excess layer $15,000,000
2nd Excess layer $25,000,000
3rd Excess layer $10,000,000
4th Excess layer $15,000,000 (cat. coverage)
Total Limit of Coverage: $75,000,000
Coverage quoted to include All Risk Perils (AOP), Named Storm, Flood and Earthquake ($60M)
Quoting options to include Named Storm, Flood & Earthquake in the following layers:
$25M x $50M
$10M x $60M
$15M x $60M
Lower Pricing