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Commissioners approve $824 special-event insurance for July 30 concert
Summary
The board approved an $824 special-event insurance policy from Philadelphia Insurance Company for a July 30 'Australian Pink Floyd' concert after staff explained quotes and underwriting criteria; the next closest quote was about $1,500.
Matthew Phillips, the county's HR and risk director, presented competing quotes for special-event insurance for a July 30 'Australian Pink Floyd' concert and recommended the Philadelphia Insurance Company quote at $824, explaining that the carrier has an A++ rating and the premium is determined by ticket-sales estimates and the act's risk profile. "Cost of the policy is $824," Phillips said, and noted that the next closest quote was about $1,500 from Cincinnati Specialty.
Commissioners asked how carriers determine pricing; Phillips said staff provides ticket-sale estimates to the agent and carriers may adjust for the type of act or prior experience. After questions, a commissioner moved to approve the lower-cost policy charged to the events line item, and the board approved the motion by voice vote. Phillips said the county has purchased higher-cost special-event policies in the past for different events but that this quote was competitive for the proposed concert.
Staff will have the policy bound and bill the events line item; commissioners did not record a roll-call tally in the transcript and provided approval by voice vote.
