Town of Palm Beach Retirement Board of Trustees Meeting Agenda March 2026
Board Recommended to Renew Fiduciary Liability Insurance with Hudson Insurance
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Description
The Retirement Board is recommended to renew Fiduciary Liability Insurance coverage with Hudson Insurance Company for a $10,000,000 limit and $150,000 deductible, at an annual premium of $27,371. Arthur J. Gallagher continues as the insurance broker. The renewal is for the period April 1, 2026 through April 1, 2027.
Contract Details
Contract Amount
$27,371 (annual premium, includes $27,100 + $271 FL Guaranty surcharge; Waiver of Recourse $225 paid by Town)
Vendor
HUDSON INSURANCE COMPANY
Agency
Town of Palm Beach, FL
Contract Type
INSURANCE
Document Date
March 6, 2026
Contract Term
April 1, 2026 – April 1, 2027
Renewal Date
2027-04-01
Renewal Info
Annual renewal, prior years' premiums and carriers detailed; historically renewed annually since 2013 with Hudson, previously with Federal and RLI. Waiver of Recourse premium of $225 paid by Town, not from benefit fund assets. No auto-renew; subject to annual approval.
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