Title
Insurance and Risk Management Advisory Board Meeting of February 11, 2022.
Body
Opening:
Chair Juan C. Diaz-Padron opened the meeting. Meeting was called to order at 8:05am. Quorum was reached. Everyone introduced themselves for the record.
MINUTES APPROVAL:
November 15, 2021
Motion Gary Reshesky / 2nd Motion: Austin Tellam
Board member Paul Susz voted “Nay” due to not having been present for that meeting
Remaining Board members: Approved
December 3, 2021
Motion Gary Reshesky / 2nd Motion: Paul Susz
All approved unanimously
SECRETARY’S REPORT:
Biltmore - Reduction in Property Insurance
Mr. Reshesky asked if the issue regarding The Biltmore’s reduction in property insurance
requirements had gone to Commission. Ms. Elejabarrieta stated it had not and should be going on
the March 29th Commission Meeting. Ms. Elejabarrieta advised she will provide The Board with
Resolution once it is approved.
BOARD MEMBERS REPORTS: None
NEW BUSINESS: None
OLD BUSINESS:
Continual - Insurance Renewal Review - Arthur J. Gallagher (Exhibit A)
Maria Perez
Ms. Perez conducted power point presentation. Ms. Perez commenced advising of timeline and ongoing status of renewal process. Ms. Perez stated that the city had received all of the applications in mid-November
and by mid-December city had already completed and submitted them.
Ms. Perez stated on February 4, 2022, there were several insurance market meetings with the primary layers of insurance (1st $10,000,000 in coverage) held with Arthur J. Gallagher along with David Ruiz and Raquel Elejabarrieta Ms. Perez advised there were discussions regarding various mitigation controls the City has implemented including the City’s response to a hurricane threat. Ms. Perez stated the appraisal program the City currently has in place was also very important to the carriers in terms of having accurate values. Ms. Elejabarrieta advised that the property insurance provided stated that the City has outperformed the mar...
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