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<br />Preview <br /> <br />Page 1 of2 <br /> <br /> <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br /> <br />I <br /> <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />The Honorable Mayor and City Commission <br /> <br />FROM: <br /> <br />Priscilla Walker, Assistant to the City Manager/Human Resources <br /> <br />DATE: <br /> <br />9/16/2010 <br /> <br />RE: <br /> <br />Selection of Preferred Government Insurance Trust (PGIT) to provide the <br />City's Commercial Package Policy (Property, Liability, and Auto) and <br />Workers Compensation Insurance Coverage <br /> <br />RECOMMENDATION: <br /> <br />It is recommended that the City Commission consider the attached resolution selecting <br />Preferred Government Insurance Trust (PGIT) to provide the City's Commercial Package <br />Policy (Property, Liability, and Auto) and Workers Compensation insurance coverage for <br />the Period of October 1, 2010 through September 30, 2011, in the amount of Five <br />Hundred Fifty Nine Thousand Seven Hundred Twenty-One Dollars ($559,721). <br /> <br />REASONS: <br /> <br />The City needs various insurance coverages to protect it from liabilities, catastrophes, <br />and other issues that may arise. As such, staff contacted qualified insurance <br />representatives to secure proposals for said coverage. Preferred Governmental Insurance <br />Trust (PGIT) and the Florida League of Cities (FMIT) have submitted proposals for a <br />Commercial Package Policy (Property, Liability, and Auto) and Workers compensation <br />as follows: <br /> <br />Preferred Governmental Insurance Trust <br /> <br />Package Policy/Workers Comp <br />Additional Coverage <br /> <br />$518,901 <br />2,114 <br />$521,015 <br /> <br />Florida League of Cities <br />Package Policy/Workers Comp <br />Optional Public Officials <br />Total <br /> <br />$559,721 <br />29.410 <br />$589,131 <br /> <br />Staff recommends acceptance of the Preferred Governmental Insurance Trust (PGIT) <br />proposal submitted by Brown and Brown. PGIT is a premier insurance organization and <br />non-assessable Trust for public entities approved by the Florida State Legislature. The <br />proposal before you represents a 15% reduction in the Commercial Package Policy <br />(Property, Liability, & Automobile), which combined with last year's premium saving of <br />20% means the City has received a 35% Package Policy premium policy reduction in the <br /> <br />http://sibagenda.sibfl.net/agenda/Preview.aspx?ItemID=3 31 &MeetingID=O&MeetingDate=... 9/8/2010 <br />