Commissioners Court Meeting

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Meeting Date:	05/23/2022
update agent of record for insurance bonds
Submitted for:	Rose Magana	Submitted By:	Rose Magana
Department:	Commissioners Court

Subject:

Discussion with possible action to change the Agent of Record from IBC Insurance to FalconSure for all currently active and future insurance bonds for Elected Officials; and any other matters incident thereto. [Requested by Risk Management Department]

Issue: Webb County changed their depository in August, 2019 but did not change their insurance coverage for bonds required for all Elected Officials.

Solution: All bonds for Elected Officials will remain with Western Surety, CNA and Suretec (current carriers) but will now be serviced by FalconSure.

Result: Bonds for Webb County Elected Officials will now be serviced by FalconSure.

Background:

n/a

Previous Court Action:

Fiscal Impact

Budget Account Number:	n/an
Funding Source:	n/a
Balance:	n/a
Financial Impact:
n/a