Item No.:                    7a_supp 
Meeting Date:             June 9, 2015 

Property Insurance Renewal
Update

Current Structure of Property Program 
(Main Limits Insured Per Occurrence Unless Noted) 
$750 Million Multi Peril Coverage Limit
$25 Million Flood Limit (Annual) 
$50 Million Course of Construction Limit 
$350 Million Terrorism 
$100 Million Equipment Breakdown 
$100 Million Business Interruption 
The Port is not looking to change limits or add coverage during this renewal. 

2

Current Structure of Property Program 
(Major Deductibles Per Occurrence) 
$500,000 Fire and Extended Coverage 
$500,000 Flood
$50,000 Course of Construction
$25,000 Fine Arts 
$500,000 Equipment Breakdown 
The deductibles for the renewal are the same as last year's renewal. 

3

$6,000,000
Property Insurance Premium versus 
Port Insurable Values 
$5,000,000
Property Insurance Premium
Property Value x $1000
$4,000,000

$3,000,000

$2,000,000

$1,000,000

$-
2003   2004   2005   2006   2007   2008   2009   2010   2011   2012   2013   2014  2015 est

The Port maintains a low dollar cost of insurance per unit of insured value. 

4

Coverage Details 
Annual Policy  July 1, 2015 through June 30, 2016 
Fire and Extended Coverage 
Wind, Spills, Collapse, Impact, and Explosion 
Covers Equipment Breakdown 
Mechanical/Electrical Equipment 
Covers Owned, Leased, Rented Property 
Example  Applied to leased generators 
Covers Business Interruption 
If Due to a Loss Covered by the Policy 
The coverage does not include property loss due to land movement. 

5

Property Renewal Forecast 
(For July 1, 2015) 
Estimated renewal premium of $1.5 million
Will bind coverage on June 30 
Final proposal/cost will depend on: 
Final adjustment of insured property values 
Final estimation of capital projects for 2015-2016 
Changes, if any, to program structure
(deductibles/coverage/limits) 
Negotiation with the underwriters 
The increase in the Port's insured values are the biggest factor in the final cost. 

6