25-84131500-ITN DFS BOR Attachment L SOF 2025 Property Quilt.pdf
PDF 289 KB Posted
- Attached to
- Insurance Broker of Record - Reinsurance Broker for Property and Casualty lines, Risk Management and
- Solicitation number
- ITN-13124
- Issued by
- St. Johns County, Florida
About this file
The document is a Property Quilt for the State of Florida Property Insurance Program covering the period from 2/15/2025 to 2/15/2026, prepared by the Department of Management Services for the Division of Risk Management. The property placement quilt details the complex layered insurance coverage for state property, with multiple carriers participating at different coverage levels ranging from $350M down to $72.5M, including specific allocations for named windstorm/flood limits, terrorism coverage, and various deductible structures. The document breaks down carrier participation percentages, specific dollar amounts, and indicates some changes from previous years, such as Berkshire reducing its named windstorm coverage share from 25% to 22%.
The property insurance program involves multiple carriers including Swiss Re, AIG, Ark/Socius, Fidelis, Munich Re, Lloyds of London, and others, with a total coverage approach that strategically distributes risk across different layers and carriers. The quilt reveals a total savings of $180,357 achieved through this placement, with carriers offering varying percentages of coverage and different pricing structures. Notably, there are options for deductible modifications, such as an indication to potentially adjust the layer and deductible for additional savings, and the program includes specific provisions for terrorism coverage and named windstorm/flood limits.
View the file
Other files
Show all 27
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
Text version
PROPERTY QUILT
The Division of Risk Management's Property Broker of Record property placement quilt is provided on the following page.
ITN NO.: 25-84131500-ITN
ATTACHMENT L
$350M
$350M Carrier % Part
LP $350M
SP
$300M $300M
Carrier
% Part
LP
SP $250M
$225M $225M
Carrier
% Part
LP
SP
$100M $100M
Carrier
% Part
LP
SP
$72.5M
NWS/Flood Limit
$72.5M
Carrier
% Part
LP
SP
Terrorism
Mosaic
100%
$38,250
$12,500,000
2.75%
Ironshore Chubb
$160,529
100%
$275,000
Hiscox
100%
$87,500 $50,000
Ark/Socius
Berkshire is aggregating Named Windstorm Coverage for their share, share reduced from 25% to 22%
$13,000,000
Canopius US
2.50% 22.00% 3.75% 12.000%
$975,000
$268,125
22.00%
Agg Deductible
Decreased from
$47.5M back to
$40M
Option to keep
$47.5M deductible for
$80,000 share $317,500 $2,461,800 $468,750 $1,560,000
$1,080,000 $255,000 $38,500
$13,500,000 $12,750,000 $385,000
Core
Deductible
$1,050,000
$231,000.00
Indication - could also do $10M xs $72.5M for LP of
$850,000 or share savings of $44,000
Deductibles
Westchester
2.50% 4.500%
Munich Re
Starr Berkshire
$121,000
Lloyds of London
40.000%
$12,700,000 $11,190,000 $12,500,000
$209,595
$400,000 $942,000
$175,000 $100,000
State of Florida Property Insurance Program 2/15/2025 - 2/15/2026
Fidelis Ark/Socius 50.00% 50.00%
$312,500 $562,500 $343,750
WRB US - $12.5M xs $72.5M NWS/Flood Only $12,500,000 $12,500,000 $12,500,000
$5,000,000
$275,000 Savings Achieved?
$180,357
30.25% 22.25%
Fidelis
27.50%
NOA, Atrium, Insurrisk, KiSwiss Re AIG Ark/Socius
8.00% 2.00% 10.00%
File details come from the government source that posted it. Updated .