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Exhibit 4- Broker Recommendation Letter LOCKTON COMPANIES 214.969.6700 2100 Ross Avenue, Suite 1400, Dallas, TX 75201-6706 lockton.com 12/10/2021 City of Denton 215 E McKinney Denton, TX 76201 Re: City of Denton 12/31/2021-22 Excess Casualty Renewal Proposal To Whom it May Concern: Thank you for the opportunity to assist the City of Denton with the 12/31/2021-22 Excess Casualty insurance policy renewal. The incumbent, Argonaut Insurance Company, has pulled out of the general liability insurance sector in regard to municipalities and thus was not able to provide renewal terms this year. In turn, Lockton went to market on the packaged excess casualty placement. Lockton approached ten markets on the City’s behalf for this placement. Safety National provided the most competitive quote, at $341,509, including taxes and fees. The below chart evidences premium by line of coverage. This is a 44% increase compared to the expiring program. This increase is due to the continuing hardening of the market. In order to bind the excess Workers’ Compensation coverage, Safety National must bind the below placements as well. Line of Business Premium General Liability $68,882 Auto Liability $72,898 Public Officials Liability $55,909 Law Enforcement Liability $77,101 Excess Liability $60,168 Total Premium (Excl. Taxes/Fees) $334,958 Taxes/Fees $6,551 Total Premium (Incl. Taxes/Fees) $341,509 Lockton recommends the City renew its Excess Casualty Insurance with Safety National, Excluding Terrorism Coverage, for a total annual premium (incl. taxes & fees) of $341,509. Sincerely, Neil Cohen Senior Vice President, Practice Leader Lockton Companies. LOCKTON COMPANIES 214.969.6700 2100 Ross Avenue, Suite 1400, Dallas, TX 75201-6706 lockton.com 12/10/2021 City of Denton 215 E McKinney Denton, TX 76201 Re: City of Denton 12/31/2021-22 Excess Workers’ Compensation Renewal Proposal To Whom it May Concern: Thank you for the opportunity to assist the City of Denton with the 12/31/2021-22 Excess Workers’ Compensation insurance policy renewal. Police and Fire employees are still a large concern in the Worker’s Compensation marketplace. Carriers are consistently looking for higher retentions for this class of employees. The City of Denton has suffered several large workers’ compensation claims over the last few years with the last one being the unfortunate shooting of one of your police officers. Lockton approached 12 markets for this renewal. Ten markets declined as they will not write municipalities or monoline workers’ compensation. Lockton was able to obtain quotes from two (2) carriers: Safety National and Midwest Employer’s Casualty (the incumbent). Safety National was able to provide renewal terms for $183,573, including taxes and fees. In order to obtain casualty coverage for this renewal as well, Denton would need to bind this option to continue having coverage for all expiring lines. Lockton recommends the City renew its Excess Workers’ Compensation Insurance with Safety National for a total annual deposit premium of $183,573. Thank you for the opportunity to work with the City of Denton. Please let us know if you have any questions regarding this renewal. Sincerely, Neil Cohen Senior Vice President, Practice Leader Lockton Companies. LOCKTON COMPANIES 214.969.6700 2100 Ross Avenue, Suite 1400, Dallas, TX 75201-6706 lockton.com 12/10/2021 City of Denton 215 E McKinney Denton, TX 76201 Re: City of Denton 12/31/2021-22 Auto Physical Damage Renewal Proposal To Whom it May Concern: Thank you for the opportunity to assist the City of Denton with the 12/31/2021-22 Auto Physical Damage insurance policy placement. Safety National, who we recommend the City binds their Excess Workers’ Compensation and their Excess Liability policies with, has provided an Auto Physical Damage quote for $137,068, including taxes and fees. This is a new placement for the City that would enhance their coverage. Lockton recommends the City renew its Auto Physical Damage Insurance with Safety National, for a total annual premium (incl. taxes & fees) of $137,068. Sincerely, Neil Cohen Senior Vice President, Practice Leader Lockton Companies.