C. RISK MANAGEMENT:

City Commission · 2026-05-13 · agenda_item

This agenda item concerns the City of Winter Park's risk management and insurance coverage. The city retains a certain amount of risk for various types of claims, including cyber liability, property damage, general liability, and workers' compensation. The city's financial statements show unpaid claims from previous fiscal years, with amounts incurred and paid during the past year. This item is currently under review as part of the city's financial reporting and risk assessment process. The information presented details the city's approach to managing potential losses and its insurance structure. While no new construction or development is described, understanding the city's financial operations and risk retention could be relevant for businesses providing financial, legal, or administrative services. Early engagement with city departments involved in financial planning and risk management may offer insights into future needs.

Cyber Liability Retained Risk

100,000 $

Property Retained Risk

50,000 $

General Liability Retained Risk

200,000 $

Police Liability Retained Risk

200,000 $

Automobile Liability Retained Risk

200,000 $

Public Officials Liability Retained Risk

200,000 $

Workers’ Compensation Liability Retained Risk

250,000 $

Crime Liability Retained Risk

1,000 $

Unpaid claims, beginning of fiscal year 2025

1,581,675 $

Unpaid claims, beginning of fiscal year 2024

1,756,000 $

Incurred claims 2025

1,464,256 $

Incurred claims 2024

542,825 $

Claim payments 2025

1,782,576 $

Claim payments 2024

717,150 $

Unpaid claims, end of fiscal year 2025

1,263,355 $

Unpaid claims, end of fiscal year 2024

1,581,675 $