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J <br /> Staff worked closely with Brown & Brown (Robert Hollander) to review <br /> possible courses of action to reduce premiums to include increasing <br /> our deductibles in certain coverage and the feasibility of self-insurance <br /> in areas that we as a City have had good claims experience. Based on <br /> the available options, renewal with PGIT with the coverage and terms • <br /> indicated is our best, most cost effective, option. <br /> In sum, staff recommends renewal of the Brown & Brown/Preferred <br /> Governmental Insurance Trust (PGIT) proposal for the Package Policy <br /> and Workers Compensation and miscellaneous insurances as <br /> attached. <br /> ADDITIONAL INFORMATION: <br /> The City currently has Commercial Insurance Package (Property, <br /> Casualty, and Auto) and Workers' Compensation insurance through <br /> PGIT which is a premier insurance organization for public entities and is <br /> a non-assessable Trust approved by the Florida State Legislature. The <br /> PGIT board of trustees has elected to purchase an extremely <br /> conservative excess of loss insurance structure which provides PGIT <br /> members several levels of protection that reinsurance does not. PGIT's <br /> excess of loss policies list every individual member a named insured, <br /> giving every member direct access to the insurance company for <br /> payment of claims. <br /> Public Risk Underwriters (PRU), which is a premier insurance service <br /> organization for public entities and is part of Brown & Brown, is the <br /> underwriting group that tailors customized insurance services and <br /> products for the City. <br /> The City has had a Commercial Package Policy (Property, Casualty, <br /> and Auto) and Workers Compensation insurance coverage with PGIT <br /> since October 1, 2003. Previous to this date, from July 1, 2001 through <br /> October 1, 2003, insurance coverage was split between First Specialty <br /> Insurance for Property and Coregis Insurance for General Liability <br /> coverage and with the Florida League of Cities for Workers <br /> Compensation. <br /> FUNDING SOURCE: <br /> Funding is available in the 2-5132 (Risk Management) operating <br /> accounts for the Commercial Package Policy and funding is available in <br /> each department's 424000 (Workers Comp Insurance) account for the <br /> Workers Compensation Policy. <br /> ATTACHMENTS: <br /> 137 <br />