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<br /> <br />~ <br /> <br />Florida League of Cities, Inc., Department of Insurance and Financial Services <br />125 East Colonial Drive, Orlando, FL 32801 <br />Main, 407-425-9142 Toll Free, 1-800-445-6248 Fox, 407-425-9378 <br />www.f1cities.comJlnsuronce <br /> <br />DEPARTMENT OF INSURANCE <br />AND FINANCIAL SERVICES <br /> <br />c <br /> <br /> <br />c <br /> <br />Advantages Offered by the FMIT Insurance Program <br /> <br />The insurance program offered through the Florida League of Cities and the Florida <br />Municipal Insurance Trust offers several significant advantages in both coverage and <br />services from your present insurance program. <br /> <br />Advantages include: <br /> <br />· The Named Storm deductible applies to each scheduled item, rather than the <br />total values at each location (address). This represents a significant reduction <br />in financial exposure to the City after a named storm (See pages 5-8 for an ex- <br />ample). <br /> <br />· The FMIT offers a level of financial security that exceeds a 1 in 250 year <br />storm event, a level recommended by Standard & Poors. The Trust currently <br />has total assets in excess of $440 million and Surplus of $225 million, offering <br />an unmatched level of financial security by other municipal pools. <br /> <br />· Return of Premium - FMIT for the past 4 years has issued return of premium <br />checks to our property insurance customers in the aggregate amount of <br />$36,000,000. The current year's return of premium represents 23% of the <br />initial property premium. <br /> <br />· The FMIT program offers property coverage for Terrorism in the amount of <br />$5,000,000 - your present program excludes this valuable coverage entirely. <br /> <br />· The Liability and Automobile coverages with FMIT DO NOT place an Aggre- <br />gate limitation of coverage on the City. Other programs limit their maximum <br />exposure by placing a limit on your amount of coverage. This could leave the <br />City without coverage and the carrier no longer would have a Duty to Defend a <br />suit. <br /> <br />· Defense costs within the Public Officials Coverages and the Employment Prac- <br />tices Coverages are NOT within the limits of liability with FMlT. Most other <br />programs have the defense costs within the limits of coverage - these are ex- <br />pensive suits to defend and those defense costs would reduce your limits avail- <br />able to settle the suit. <br /> <br />· No Fault Sewer Backup Coverage - The FMIT will cover up to an annual ag- <br />gregate of $1 00,000. <br /> <br />3 <br />