Exhibit 4 - Recommendation Letter
LOCKTON COMPANIES 214.969.6700
2100 Ross Avenue, Suite 1400, Dallas, TX 75201-6706 lockton.com
12/19/2023
City of Denton
215 E McKinney
Denton, TX 76201
Re: City of Denton 12/31/2023-24 Casualty Insurance Program - Renewal Proposal
To Whom it May Concern,
Thank you for the opportunity to assist the City of Denton with the 12/31/2023 -24 Casualty
Insurance Program Renewal.
Lockton approached several markets in addition to the incumbent carrier, Safety National, for
Casualty Renewal terms. The Casualty lines include General Liability, Auto Liability, Public Officials
Liability, Law Enforcement Liability, Auto Physical Damage and Excess Workers Compensation. The
following new insurance markets were approached for quotes but were ultimately either not
competitive or declined: Liberty Mutual, Great American, Chubb, AIG, and Travelers. Since 2021,
there has not been significant change in municipality insurance carrier appetites. This is largely due
to social & economic inflation, increasing frequency & cost of litigation and municipality insurance
market performance.
Safety National presented renewal terms on all renewing lines for an annual premium of $805,334
(not including optional TRIA surcharge of $5,377).
Lockton recommends that the City renew its Casualty insurance policies with Safety National for an
annual premium of $805,334 for the 12/31/23-24 term.
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