25-64121511-ITB Ocean Marine Open Cargo Attachment N Historical Loss Experience.pdf

This document is a Historical Loss Experience report for Ocean Marine and Open Cargo insurance policies for the State of Florida, specifically for Solicitation No. 25-64121511-ITB, underwritten by Great American Insurance Company. The report covers two insurance policies (OMH 583-30-46 Ocean Marine and OMC 383-90-71 Open Cargo) with policy years from 7/2/2021 to 7/2/2025, detailing total premiums, total losses paid, and loss ratios for each policy period. The client loss report provides a comprehensive breakdown of individual claims, including loss dates, claimant names, cause of loss descriptions, and total incurred amounts for various state entities and universities.

The loss experience shows varied financial performance across policy years, with loss ratios ranging from 0% to 87.71% for the Open Cargo policy and 0% to 10.86% for the Ocean Marine policy. Notable claims include incidents involving Florida International University (water infiltration), Sea Adventures (vessel sunk overnight), and multiple claims related to boat and vessel damages. The total incurred amount for the Open Cargo policy (OMC 383-90-71) is $15,745.65, while the Ocean Marine policy (OMH 583-3046) totals $72,431.53. These historical loss records provide potential bidders with insights into the state's insurance claim history and risk profile for marine-related insurance coverage.