The renewal modifies the expiring program by increasing the insured loss limit from $70,000,000 to $100,000,000 and removing all self-insured retention beyond the deductible to the $100 million limit.   Policy coverages for multiple sub-limits have also increased as identified in the attachment.  The total annual cost [premium + regulatory fees] is $3,183,905.03.  This represents a premium decrease of $404,630 or 11.60% from the existing program.  The decrease in premiums is due to a decrease in the total insurable values of property in the District of 2.166% and a rate decrease of 9.65%.  Property insurance premiums are paid by the local Capital Improvement Fund.