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Jr S'_y h <br />TO: <br />VIA: <br />FROM: <br />DATE: <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />(305) 947 -0606 City Hall <br />(305) 949 -3113 Fax <br />MEMORANDUM <br />The Honorable Mayor and City Commission <br />Christopher J. Russo, City Manager <br />Yael Y. Londono, HR & Risk Management Director <br />9/18/2014 <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 <br />renew the City's Property, Liability, Auto, and Workers Compensation insurance <br />with the Preferred Government Insurance Trust (PGIT) and Brown & Brown <br />Insurance for the period of October 1, 2014 through September 30, 2015 in an <br />amount not to exceed $1,000,000.00. <br />REASONS: <br />The renewal premium for the Commercial Package Policy (Property, Liability, <br />and Auto) and Workers Compensation is $903,168.65 which is $87,527.00 or <br />10.73% more than last year ($815,641.65). The contributing factor for the <br />premium increase is due to claims, payroll and additional property (i.e. Pier, <br />Intracoastal Parks, etc.) <br />Additionally, staff is allocating $30,000 for deductibles and $66,831.35 for <br />additional premiums expected upon the completion of Gateway Park, which will <br />be added to the property insurance during the upcoming fiscal year. <br />Staff worked closely with Brown & Brown (Robert Hollander) to review possible <br />courses of action to reduce premiums to include increasing our deductibles in <br />certain coverage and the feasibility of self- insurance in areas that we as a City <br />have had good claims experience. Based on the available options, renewal with <br />PGIT with the coverage and terms indicated is our best, most cost effective, <br />option. <br />In sum, staff recommends renewal of the Brown & Brown /Preferred <br />Governmental Insurance Trust (PGIT) proposal for the Package Policy and <br />Workers Compensation and miscellaneous insurances as attached. <br />ADDITIONAL INFORMATION: Agenda Item No IOA <br />Date 9/18/2014 <br />102 <br />