Reso 2010-1602 - Laserfiche WebLink

Home Browse Search

~ NOTICE AND ACKNOWLEDGEMENT OF FINANCIAL CONDITION ( Brown & Brown of Florida lnc Miami Lakes Division, and its parent company, Brown & Brown, Inc. (collectively "Brown & Brown") do not certify, warrant or guarantee the fmancial soundness or stability of any insurance carrier or alternative risk transfer entity. We endeavored to place your coverage with an insurance carrier with an A.M. Best Company financial rating of"A-" or better.* While Brown & Brown cannot certify, warrant or guarantee the financial soundness or stability of a company or otherwise predict whether the financial condition of a company might improve or deteriorate, we are hereby providing you with notice and disclosure of fmancial condition so that you can make an infonned decision regarding the placement of insurance coverage. Accordingly, with receipt of this notice you acknowledge the following with regard to the placement of the insurance indicated below and with regard to any subsequent renewal of such insurance: . Brown & Brown attempted to present other options for your insurance placement, including quotations with insurance carriers holding an "A-" or better rating from A.M. Best Company, but we were unable to secure such a quotes. . Coverage is being placed through Preferred Governmental Insurance Trust ("PGIT'), which is as a Florida local government self-insurance fund established pursuant to Section 624.4622, Florida Statutes, as such PGIT is not rated by the A.M. Best Company. . The financial condition of insurance companies and other coverage providers including local government self-insurance funds like PGIT may change rapidly and that such changes are beyond the control of Brown & Brown. ( . You should review the fmancial and membership infonnation from PGIT and agree to abide by the conditions of membership established by PGIT. . You should consider the infonnation provided, including the PGIT coverage quote and insurance placement and review it with your accountants, legal counsel and advisors. . You fully understand the risks associated with insurance coverage with PGIT and release Brown & Brown, its agents, employees, parent, subsidiaries, successors, assignees and related companies from any and all liability, claims, demands, judgments, decrees or orders in the event of carrier insolvency, liquidation or rehabilitation. By: [NAME OF AUTHORIZED REPRESENTATIVE OF INSURED] Named Insured: City of Sunny Isles Beach Policy Number: TBD Policy Period: 10/1110 - 11 Date of Notice: * A.M. Best Rating Guide: Rating for Stability: A++ to D = Highest to lowest rating Rating for Assets! Surplus: 15 to 1 - Largest to smallest rating 27