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Title
Excess Liability Insurance Pricing Update
Overview
The Orange County Transportation Authority has been fully self-insured for operational liability exposures since December 1, 2020, due to recent unfavorable premium pricing in the excess liability insurance market. Staff has reviewed the current insurance market and pricing remains unfavorable to procure excess liability insurance. Board of Directors approval is necessary to remain self-insured.
Recommendation(s)
Authorize the Chief Executive Officer to continue to fully self-insure for liability claims until such time the insurance market pricing is more favorable.