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
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