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<br /> JgNY CSC
<br /> �S Fs City of Sunny Isles Beach
<br /> �o e9 18070 Collins Avenue
<br /> , I' :::::::::; Florida 33160
<br /> •
<br /> F(O ye
<br /> `'T.Q, sw4 I''''' (305)9494113 Fax •
<br /> MEMORANDUM
<br /> TO: The Honorable Mayor and City Commission
<br /> VIA: Christopher J. Russo, City Manager
<br /> FROM: Yael Y. Londono, Acting HR Manager
<br /> DATE: 9/19/2013
<br /> RE: Renewal of Property, Casualty, Auto, Workers Comp Insurance •
<br /> with Brown & Brown/Preferred Government Insurance Trust(PGIT)
<br /> RECOMMENDATION:
<br /> It is recommended that the City Commission approve the attached resolution to renew the City's Property,
<br /> Liability, Auto, and Workers Compensation insurance with the Preferred Government Insurance Trust
<br /> (PGIT) and Brown & Brown Insurance for the period of October 1, 2013 through September 30, 2014 in an
<br /> amount not to exceed$865,950.00.
<br /> REASONS:
<br /> The renewal premium for the Commercial Package Policy(Property, Liability, and Auto) is $642,749 which
<br /> is $40,612 or 6.74% more than last year ($602,137). The renewal premium for Workers Compensation is __
<br /> $173,201 which is $29,593 or 20.61% more than last year ($143,608). The contributing factor for the
<br /> premium increase is payroll which increased from$10,129,524 to$11,206,089.
<br /> Insurance Premium Summary
<br /> Insurance Coverage FY 12/13. FY 13/14 Difference Percentage
<br /> Property, Inland Marine, Marine
<br /> Hull,Glass, Storage Tank 327,397 341,432 14,035 4.29%
<br /> General Liability, L.E. Liability,
<br /> Public Officials&Employment
<br /> Practices Liability, Student
<br /> Accident 189,249 218,963 29,714 15.70%
<br /> Automobile Liability/Physical
<br /> Damage 85,491 82,354 -3,137 -3.67%
<br /> Workers'Compensation 143,608 173,201 29,593 20.61%
<br /> Total Annual Premium $745,745 $815,950 $70,205 9.41%
<br /> Deductibles Budget
<br /> Workers Compensation
<br /> Agenda Item No.I OA
<br /> Date 9/19/2013
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