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Gallagher Insurance pitches 'Coast Gov Pro' pool; board asks for follow-up meeting
Summary
Gallagher Insurance proposed acting as agent of record and joining the city's property program to a regional pool (Coast Gov Pro) that inspects properties and negotiates coverage; the board asked staff to meet with the presenter and bring details back before deciding.
Frank Bordeaux of Gallagher Insurance presented a proposal asking the city to consider Gallagher as agent of record and to join Coast Gov Pro, a regional public-entity insurance pool that performs property inspections, aggregates values and negotiates market coverage on members' behalf.
Bordeaux said the program inspects a portion of members’ properties, develops narratives and 15-year capital plans to make municipalities more attractive to domestic and London markets, and that early participation helped other coastal entities negotiate improved coverages and produced substantial taxpayer savings in prior renewals. "We would be honored to be an agent of record for the city of Long Beach," Bordeaux said, explaining the pool's inspection program and buy-in approach.
Board members asked about assessments, whether entities are liable for each other’s claims, renewal timing and the single adjuster arrangement. Bordeaux said the commissioner reviewed the program and that participating entities have dedicated limits and would not be assessed for another member's claims. After questions, the board moved to have the presenter meet separately with the mayor, fire chief and select aldermen for follow-up detail and to return with recommendations; the motion to table for additional staff-level meetings carried.
