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Reso 2024-3712
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Reso 2024-3712
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Last modified
9/27/2024 9:47:13 AM
Creation date
9/25/2024 3:48:48 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2024-3712
Date (mm/dd/yyyy)
09/19/2024
Description
Approving renewal of City's Insurance Policy w/ Brown & Brown Preferred Gov't Insurance Trust (PGIT) from Oct. 1, 2024 - Sept. 30, 2025.
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City of Sunny Isles Beach: 2024 Insurance Renewal <br />Premium Summary <br />Line of Business <br />Current Carrier <br />Current Premium <br />2024 Renewal <br />% Change <br />Property <br />PGIT <br />$781,891 <br />$782,411 <br />0% <br />Liability Package: <br />PGIT <br />$554,352 <br />$562,328 <br />1% <br />Auto <br />PGIT <br />$153,936 <br />$186,829 <br />21% <br />Inland Marine <br />PGIT <br />$19,638 <br />$21,527 <br />10% <br />Crime/ Fidelity <br />PGIT <br />$1,765 <br />$1,766 <br />0% <br />Workers Compensation <br />PGIT <br />$291,089 <br />$276,810 <br />-5% <br />Government Crime <br />Fidelity & Deposit Co <br />$500 <br />$500 <br />0% <br />Marine Hull <br />RLI Insurance <br />$11,538 <br />$8,794 <br />-24% <br />Sponsored Student <br />Activity <br />Gerber Life Insurance <br />$22,578 <br />$24,000 <br />6% <br />Plate Glass <br />USPlate Glass <br />$24,680 <br />$24,510 <br />-1% <br />3% <br />$1,861,967 <br />$1,889,475 <br />1% <br />Year Over Year Exposure Changes <br />206 <br />2023-2024 <br />2024-2025 <br />% Change <br />General Liability Exposures (ratable payroll) <br />$14,926,706 <br />$15,229,782 <br />2% <br />Law Enforcement Liability (# of officers) <br />59 <br />63 <br />7% <br />Public Officials / EPL <br />208 <br />181 <br />-13% <br />(total payroll) <br />$21,715,000 <br />$22,547,000 <br />4% <br />Automobile (vehicle count) <br />212 <br />235 <br />11% <br />(reported values) <br />$6,083,086 <br />$8,531,715 <br />40% <br />Inland Marine (scheduled) <br />$5,268,337 <br />$5,789,493 <br />10% <br />Workers Compensation (total payroll) <br />$21,715,000 1 <br />$22,304,176 1 <br />3% <br />206 <br />
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