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9/28/2018 Item Coversheet <br /> SUNNY/SAF <br /> City of Sunny Isles Beach <br /> 18070 Collins Avenue <br /> Sunny Isles Beach, Florida 33160 <br /> • <br /> • <br /> Sr,D9�•FIOR�OP S` (305)947-0606 City Hall <br /> C.'7,Os sw,p.%° (305)949-3113 Fax <br /> MEMORANDUM <br /> TO: The Honorable Mayor and City Commission <br /> VIA: Christopher J. Russo, City Manager <br /> FROM: Yael Y. Londono, HR& Risk Management Director <br /> DATE: 9/20/2018 <br /> Renewal of Property, Casualty,Auto,Workers Comp <br /> RE: Insurance with Brown &Brown/Preferred Government <br /> Insurance Trust(PGIT) <br /> RECOMMENDATION: <br /> It is recommended that the City Commission approve the attached <br /> resolution to renew the City's Property, Liability, Auto, and Workers <br /> Compensation insurance with the Preferred Government Insurance <br /> Trust (PGIT) and/or Brown & Brown Insurance for the period of <br /> October 1, 2018 through September 30, 2019 in an amount not to <br /> exceed$1,500,000.00. <br /> REASONS: <br /> • <br /> The renewal premium for the Commercial Package Policy (Property, <br /> Liability, and Auto) and Workers Compensation is $1,328,497.75 <br /> which is$131,618.00 or 11% more than last year($1,196,879.75). The <br /> contributing factor for the premium increase is due to claims, payroll <br /> and additional property. <br /> • Additionally, staff is allocating $171,502.25 for deductibles and for <br /> additional premiums expected upon the completion of capital projects, <br /> which will be added to the property insurance during the upcoming <br /> fiscal year. <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 <br /> is a non-assessable Trust approved by the Florida State Legislature. <br /> The PGIT board of trustees has elected to purchase an extremely <br /> https://sunnyisles.novusagenda.com/AgendaWeb/CoverSheet.aspx?ItemID=2414&MeetinglD=141 1/2 <br />