Reso 2011-1759 - Laserfiche WebLink

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Preview Page 2 of 4 differed in coverage amounts/types and that they were based on different experience ratings/histories. As such, Siver requested additional information from the Florida League of Cities so that proposals could be better compared. Siver has concluded their analysis and recommends the proposals from PGIT. Contributing factors for this determination include: 1. PGIT's named windstorm deductible is $20,000. FMIT's named windstorm deductible is $25,000. 2. PGIT's Public Officials Liability policy response is based on a "claims made form". FMIT's policy is based on an "occurrence form". Siver contacted FMIT in this regard and they advised there would be a Thirty-One Thousand Six Hundred Ten Dollar ($31,610) increase to amend their proposal to a "claims made form". The amendment is necessary to cover the gap created when moving from a "claims made" form to an "occurrence" form. 3. FMIT submitted an alternate proposal with zero deductible at an additional cost of Sixteen Thousand Four Hundred Eighty-Two Dollars. PGIT has confirmed an alternate proposal with a zero deductible at no additional cost. The zero deductible does not apply to workers compensation items. Considering all of the requested adjustments, the revised package and workers compensation policies are as follows: Brown and Brown, Inc. Florida League of Cities Preferred Governmental Insurance Trust Florida Municipal Insurance Trust (FMIT) (PG IT) Package Policy & Workers $623,195 Package Policy & Workers $601,744 Comp Comp However, FMIT has advised that they require new property appraisals, which they will secure at no cost to the city, for all listed city properties. They have also advised that they reserve the right to adjust policy pricing based on those appraisals. PGIT does not require new appraisals for city property . Additionally PGIT has submitted a proposal for the following miscellaneous insurance coverage: 1 Crime Policy $707.00 2 Activity Accident $11,164.00 3 Hull Coverage $1,845.00 4 Storage Tank Liability $1,712.00 Total $15,428.00 PGIT also submitted a Glass policy; however, staff does not recommend this proposal, as represents duplicate coverage. FMIT did not bid on these coverages. In sum, staff recommends acceptance of the Brown & Brown/Preferred Governmental Insurance Trust (PGIT) proposal for the Package Policy and Workers Compensation, and miscellaneous insurances as follows: http://sibagenda.sibfl.netlagenda/Preview.aspx?ItemID=5 88&MeetingID=0&MeetingDate=... 9/8/20 II