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Deductibles 30,000 <br /> Property Deductibles 20,000 <br /> Total 50,000 <br /> Overall Total <br /> Total Annual Premium 815,950 <br /> Total Deductibles 50,000 <br /> Total 865,950 <br /> Staff worked closely with Brown & Brown (Robert Hollander)to review possible courses of action to reduce <br /> premiums to include increasing our deductibles in certain coverage and the feasibility of self-insurance in <br /> areas that we as a City have had good claims experience. Staff unanimously agreed that renewal with PGIT <br /> with the coverage and terms indicated is our best, most cost effective, option. <br /> In sum, staff recommends renewal of the Brown & Brown/Preferred Governmental Insurance Trust (PGIT) • <br /> proposal for the Package Policy and Workers Compensation and miscellaneous insurances as attached. <br /> ADDITIONAL INFORMATION: <br /> The City currently has Commercial Insurance Package (Property, Casualty, and Auto) and Workers' <br /> Compensation insurance through PGIT which is a premier insurance organization for public entities and is a • <br /> non-assessable Trust approved by the Florida State Legislature. The PGIT board of trustees has elected to • <br /> purchase an extremely conservative excess of loss insurance structure which provides PGIT members <br /> several levels of protection that reinsurance does not. PGIT's excess of loss policies list every individual <br /> member a named insured, giving every member direct access to the insurance company for payment of <br /> claims. <br /> Public Risk Underwriters (PRU), which is a premier insurance service organization for public entities and is <br /> part of Brown & Brown, is the underwriting group that tailors customized insurance services and products <br /> for the City. <br /> The City has had a Commercial Package Policy (Property, Casualty, and Auto) and Workers Compensation <br /> insurance coverage with PGIT since October 1, 2003. Previous to this date, from July 1, 2001 through <br /> October 1, 2003, insurance coverage was split between First Specialty Insurance for Property and Coregis <br /> Insurance for General Liability coverage and with the Florida League of Cities for Workers Compensation. <br /> FUNDING SOURCE: • <br /> Funding is available in the 533 (Insurance) accounts for the Commercial Package Policy and funding is <br /> available in each department's 5240 (Workers Comp) account for the Workers Compensation Policy. <br /> ATTACHMENTS: <br /> • Resolution <br /> • Renewals <br /> • Renewal Proposal <br /> Agenda Item No.10A <br /> Date 9/19/2013 <br /> 61 <br />