HomeMy WebLinkAboutReso 2013-2071 RESOLUTION NO. 2013- 20'7 1
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH, FLORIDA, RATIFYING ADDITIONAL
INSURANCE COVERAGES WITH BROWN & BROWN /
PREFERRED GOVERNMENT INSURANCE TRUST (PGIT) FOR
THE PERIOD OF OCTOBER 1, 2012 THROUGH SEPTEMBER 30,
2013, IN AN AMOUNT NOT TO EXCEED SEVENTY-FIVE
THOUSAND SEVEN HUNDRED DOLLARS ($75,700.00);
AUTHORIZING THE CITY MANAGER TO DO ALL THINGS
NECESSARY TO EFFECTUATE THIS RESOLUTION;
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, on September 20, 2012 via Resolution No. 2012-1958, the City
Commission approved the renewal of the Commercial Package Policy (property, liability,
automobile), Workers Compensation, and miscellaneous insurances with Brown &
Brown/Preferred Government Insurance Trust (PGIT), in an amount not to exceed Seven
Hundred Twenty-One Thousand Seven Hundred Eighty-Three Dollars ($721,783.00) for a one-
year period of October 1, 2012 through September 30, 2013; and
WHEREAS, the City of Sunny Isles Beach was in need of additional insurance coverage
over the past seven months related to capital projects, inadequate coverage, and increases due to
an insurance company audit for the following:
2012 Workers Compensation Audit $17,000.00
Pier Property Insurance 22,000.00
Glass Policy for Government Center 7,100.00
Pier Builder Risk 11,000.00
Miscellaneous Property Deductibles 7,900.00
Inland Marine Coverage 9,000.00
Crime/Fidelity 1.700.00
Total: $75,700.00
WHEREAS, the City recommends approval to include the necessary insurance coverage
through Brown & Brown/Preferred Governmental Insurance Trust (PGIT) related to capital
projects, inadequate coverage, and increases due to an insurance company audit, in an amount
not to exceed Seventy-Five Thousand Seven Hundred Dollars ($75,700.00), for a total amount
not to exceed of Seven Hundred Ninety-Seven Thousand Four Hundred Eighty-Three Dollars
($797,483.00) to protect the City from liabilities, catastrophes, and other issues that may arise
over the one-year period of October 1, 2012 through September 30, 2013.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Ratify Approval of Additional Insurance. The City Commission hereby ratifies
the additional insurance coverage required through Brown & Brown/Preferred Government
Insurance Trust (PGIT) related to capital projects, inadequate coverage, and increases due to an
R2013-Pgit Insurance Ratify Addl Insurance Page I of 2
1
insurance company audit for a one-year period of October 1, 2012 through September 30, 2013,
in an amount not to exceed Seventy-Five Thousand Seven Hundred Dollars ($75,700.00).
Section 2. Authorization of City Manager. The City Manager is hereby authorized to do all
other things necessary to effectuate this Resolution.
Section 3. Effective Date. This Resolution shall become effective upon adoption.
PASSED AND ADOPTED this 20th day of June 2013.
orman S. Edelcup, Mayor
ATTEST:
�`Jane,A. Hines, CMG, City Clerk
V), _ I t of:> •
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY
a
Hans Ottinot, City Attor ee} • Cry itrrA vvY
Moved by: Cpl^ ,Kp,.‘ S(M LL
Seconded by: V l c&. Met v 0'
Vote: S -b
Mayor Norman S. Edelcup v(Yes) (No)
Vice Mayor Isaac Aelion .-(Yes) (No)
Commissioner Jeanette Gatto V(Yes) (No)
Commissioner Jennifer Levin V(Yes) (No)
Commissioner George "Bud" Scholl v(Yes) (No)
R2013-Pgit Insurance Ratify Addl Insurance Page 2 of 2
"SJ~NY rStF City of Sunny Isles Beach
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(305)949-3113 Fax
MEMORANDUM
TO: The Honorable Mayor and City Commission
VIA: Christopher J. Russo, City Manager
FROM: Stan Morris, Deputy City Manager
DATE: 6/20/2013
RE: Additional Insurance Coverage with Brown & Brown/Preferred
Government Insurance Trust
RECOMMENDATION:
It is recommended that the City Commission approve the attached resolution
ratifying an additional $75,700 in insurance with Brown & Brown/Preferred
Governmental Insurance Trust, to include necessary coverage taken out over the
past 7 (seven) months related to capital projects, inadequate coverage, and
increases due to an insurance company audit for the following:
2012 Workers Compensation Audit $17,000
Pier Property Insurance $22,000
Glass Policy for Government Center $7,100
Pier Builder Risk $11,000
Miscellaneous Property Deductibles $7,900
Inland Marine Coverage $9,000
Crime/Fidelity $1,700
Total: $75,700
Agenda Item No.10E
Date 6/20/2013 /
100
REASONS:
On September 20, 2012, Resolution No. 2012-1958 was approved for an amount
not to exceed $721,783 for insurance renewals with Brown & Brown/Preferred
Governmental Insurance Trust. The Resolution was for renewal of the
Commercial Package Policy (Property, Liability, Automobile), Worker's
Compensation and Miscellaneous Insurances. The additional amount and related
coverage listed above were not allowed for in the original Resolution and it is
recommended that the additional amount be granted in order to ensure adequate
coverage is in place for the City.
ADDITIONAL INFORMATION:
We will be reviewing all of our deductibles with an eye toward cost savings from
adjustments that may be in the City's best interest.
FUNDING SOURCE:
Funding will come from account numbers: 10-533-5458 Property Insurance
Coverage, 10-533-5454 Worker's Compensation, 10-533-5451 Property
Deductibles, 10-533-5459 General Liability Premiums, and 20-600-5670 Pier's
Builder's Risk.
ATTACHMENTS:
• Resolution
Agenda Item No 10E
Date 6/20/2013
101