HomeMy WebLinkAboutReso 2026-4063RESOLUTION NO.2026 - I/O
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH,
FLORIDA, APPROVING THE RENEWAL OF THE COMMERCIAL PACKAGE POLICY
(PROPERTY, LIABILITY, AUTOMOBILE), WORKERS COMPENSATION, AND
MISCELLANEOUS INSURANCES WITH BROWN & BROWN / PREFERRED
GOVERNMENT INSURANCE TRUST (PGIT) FOR THE PERIOD OF OCTOBER 1,
2026, THROUGH SEPTEMBER 30, 2027, IN AN AMOUNT NOT TO EXCEED TWO
MILLION SEVENTY-FIVE THOUSAND DOLLARS AND NO CENTS ($2,075,000.00),
AS OUTLINED IN EXHIBIT "A"; AUTHORIZING THE CITY MANAGER TO DO ALL
THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, on September 15tf', 2016, via Resolution No. 2016-2579, the City Commission
entered into an Agreement with Brown & Brown/Preferred Government Insurance Trust (PGIT)
as the City's provider for the Commercial Package Policy and Workers Compensation, and
miscellaneous insurances, for a one-year period of October 1, 2016, through September 30,
2017, in an amount not to exceed $1,000,000.00; and
WHEREAS, on March 16th, 2017, via Resolution No. 2017-2670, the City Commission
approved an increase in spending authority for additional insurance coverage with Brown &
Brown/Preferred Government Insurance Trust (PGIT), in an amount not to exceed $150,000.00;
and
WHEREAS, on September 215t, 2017, via Resolution No. 2017-2720, the City Commission
approved an Agreement with Brown & Brown/Preferred Government Insurance Trust (PGIT) as
the City's provider for the Commercial Package Policy and Workers Compensation, and
miscellaneous insurances, for a one-year period of October 1, 2017, through September 30,
2018, in an amount not to exceed $1,350,744.75, which included a contingency amount of
$200,000.00; and
WHEREAS, on September 20th, 2018, via Resolution No. 2018-2853, the City Commission
approved an Agreement with Brown & Brown/Preferred Government Insurance Trust (PGIT) as
the City's provider for the Commercial Package Policy and Workers Compensation, and
miscellaneous insurances, for a one-year period of October 1, 2018, through September 30,
2019, in an amount not to exceed $1,500,000.00; and
WHEREAS, on September 19th, 2019, via Resolution No. 2019-2974, the City Commission
approved an Agreement with Brown & Brown/Preferred Government Insurance Trust (PGIT) as
the City's provider for the Commercial Package Policy and Workers Compensation, and
miscellaneous insurances, for a one-year period of October 1, 2019, through September 30,
2020, in an amount not to exceed $1,500,000.00; and
WHEREAS, on September 17th, 2020, via Resolution No. 2020-3092, the City Commission
approved an Agreement with Brown & Brown/Preferred Government Insurance Trust (PGIT) as
the City's provider for the Commercial Package Policy and Workers Compensation, and
@Bd@A818cf74 Page 1 of
26
miscellaneous insurances, for a one-year period of October 1, 2020, through September 30,
2021, in an amount not to exceed $1,500,000.00; and
WHEREAS, on September 14th, 2021, via Resolution No. 2021-3277, the City Commission
approved an Agreement with Brown & Brown/Preferred Government Insurance Trust (PGIT) as
the City's provider for the Commercial Package Policy and Workers Compensation, and
miscellaneous insurances, for a one-year period of October 1, 2021, through September 30,
2022, in an amount not to exceed $1,500,000.00; and
WHEREAS, on September 15th, 2022, via Resolution No. 2022-3387, the City Commission
approved an Agreement with Brown & Brown/Preferred Government Insurance Trust (PGIT) as
the City's provider for the Commercial Package Policy and Workers Compensation, and
miscellaneous insurances, for a one-year period of October 1, 2022, through September 30,
2023, in an amount not to exceed $1,800,000.00; and
WHEREAS, on September 2151, 2023, via Resolution No. 2023-3548, the City Commission
approved an Agreement with Brown & Brown/Preferred Government Insurance Trust (PGIT) as
the City's provider for the Commercial Package Policy and Workers Compensation, and
miscellaneous insurances, for a one-year period of October 1, 2023, through September 30,
2024, in an amount not to exceed $1,900,000.00; and
WHEREAS, on September 19th, 2024, via Resolution No. 2024-3712, the City Commission
approved an Agreement with Brown & Brown/Preferred Government Insurance Trust (PGIT) as
the City's provider for the Commercial Package Policy and Workers Compensation, and
miscellaneous insurances, for a one-year period of October 1, 2024, through September 30,
2025, in an amount not to exceed $1,975,000.00; and
WHEREAS, the City of Sunny Isles Beach is in need of various insurance coverages to
protect it from liabilities, catastrophes, and other issues that may arise for the one-year period
of October 1, 2025, through September 30, 2026; and
WHEREAS, staff recommends acceptance of the Brown & Brown/Preferred
Governmental Insurance Trust (PGIT) proposal for the Commercial Package Policy and Workers
Compensation, and miscellaneous insurances, in an amount not to exceed Two Million Seventy -
Five Thousand Dollars and No Cents ($2,075,000.00), for the one-year period of October 1,
2026, through September 30, 2027, attached hereto as Exhibit "A".
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY
ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Approval of Insurance Renewal. The City Commission hereby approves the
insurance renewal by Brown & Brown/Preferred Government Insurance Trust (PGIT) for the
Commercial Package Policy and Workers Compensation, and miscellaneous insurances, in an
amount not to exceed Two Million Seventy -Five Thousand Dollars and No Cents
($2,075,000.00), for the one-year period of October 1, 2026, through September 30, 2027,
attached hereto as Exhibit "A".
@Bcl@A818cf74 Page 2 of 3
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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 17th day of Septem ,
•t !rl'i�.
r` Larisa Svechin, ayor
' 4.
-y+ AT-TE iT.a APPROVED AS TO FORM
.a AND LEGAL SUFFICIENCY:
i
Mauri io Betanc r, CIVIC, City Clerk Alin E. B au, City Attorney
Nabors, Giblin & Nickerson, P.A.
Moved by:epK141&6I1w� k w Seconded by: IC':19, I lmop-ylsp�
Vote:
Mayor Svechin ✓ (Yes)
(No)
Vice Mayor Viscarra ✓ (Yes)
(No)
Commissioner Joseph %7 (Yes)
(No)
Commissioner Lama —7 (Yes)
(No)
Commissioner Stuyvesant(A6e r (Yes)
(No)
@Bcl@A818cf74 Page 3 of 3
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City of Sunny Isles Beach: 2026 Insurance Renewal
Premium Summary
Property
PGIT
10/1/2026
$711,068
$622,267
-12%
Liability Package:
PGIT
10/1/2026
$624,612
$550,254
-12%
Auto
PGIT
10/1/2026
$226,712
$232,849
3%
Inland Marine
PGIT
10/1/2026
$23,904
$20,989
-12%
Crime / Fidelity
PGIT
10/1/2026
$1,713
$1,713
0%
Workers Compensation
PGIT
10/1/2026
$417,663
$459,292
10%
Government Crime
Fidelity & Deposit
Co
10/1/2026
$1,000
$1,000
0%
Marine Hull
RLI Insurance
10/1/2026
$9,504
$9,504
0%
Student Activity
Gerber
10/1/2026
$21,515
$23,024
7%
Plate Glass
USPIate Glass
10/1/2026
$24,510
$26,661
9%
Storage Tank Liability
Lloyd's
10/1/2026
$1,584
$1,750
10%
Flood - 151 Sunny Isles Blvd
Wright Flood
6/17/2026
$4,210
$4,959
18%
Flood - 18050 Collins
Wright Flood
11/1/2026
$17,045
$16,430
-4%
Flood - 18500 Collins
Wright Flood
11/1/2026
$17,048
$17 ' 045
0%
Flood - 18080 Collins
Wright Flood
11/1/2026
$8,417
$8,846
5%
Flood - 18070 Collins Ave
Wright Flood
10/1/2026
$5,155
$6,031
17%
Flood - 18115 N Bay Rd (N)
Wright Flood
10/1/2026
$7,644
$9,060
19%
Flood - 18115 N Bay Rd (S)
Wright Flood
10/1/2026
$7,797
$9,270
19%
Flood - 215 185th St
Wright Flood
1/11/2027
$21,912
$25,856
18%
$2,153,013
$2,046,800
-5%
Liability Package includes GL, POL/EPLI, Law Enforcement, Cyber
Note: Experience Modification Rating Increased by 0.85 to 1.10
Red premiums reflect renewal quotes that have not yet been received
Year Over Year Exposure Changes
n
WO
Property:
$79,460,140
$79,809,875
0.44%
Liability Package:
$15,229,782
$17,741,083
16.49%
Auto:
$8,405,803
$9,598,624
14%
Inland Marine:
$5,789,493
$6,241,100
7.80%
Public Officials (full-time/part-time):
244/73
243/68
(-2%)
Workers Compensation:
$22,304,176
$25,598,000
15%
29
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City of Sunny Isles Beach
18070 Collins Avenue
Sunny Isles Beach, Florida 33160
(305) 947-0606 City Hall
(305) 949-3113 Fax
MEMORANDUM
TO: Honorable Mayor and City Commissioners
VIA: Stan Morris, City Manager.
FROM: Makia Curry, H R & Risk Management Director.
DATE: September 17, 2026
RE: Renewal of Property, Casualty, Auto, Workers Comp Insurance with Brown &
Brown/Preferred Government Insurance Trust (PGIT)
RECOMMENDATION:
Staff presents this item for Commission Consideration.
REASONS:
It is recommended that the City Commission approve the attached resolution to renew the City's
Property, Liability, Auto, and Workers Compensation insurance with the Preferred Government
Insurance Trust (PGIT) and/or Brown & Brown Insurance for the period of October 1, 2026 through
September 30, 2027 in an amount not to exceed $2,100,000.00.
The renewal premium for the Commercial Package Policy (Property, Liability, and Auto) and Workers
Compensation is $2,045,414.75 which is $106,236.25 less than last year ($2,151,651.00). The
contributing factors for the premium decrease are due to the property, liability and inland marine
package which each had a 12% premium decrease.
Additionally, staff is allocating $54,585.25 for deductibles, additional flood policies and additional
premiums expected for capital projects, which may be added to the property insurance during the
upcoming fiscal year.
Staff worked closely with Brown & Brown to review possible courses of action. Based on the available
options, renewal with PGIT with the coverage and terms indicated is our best, most cost effective,
option.
Item Number: 9.13
24
In sum, staff recommends renewal of the Brown & Brown/Preferred Governmental Insurance Trust
(PGIT) proposal for the Package Policy and Workers Compensation and miscellaneous insurances as
attached.
ADDITIONAL INFORMATION:
The City currently has Commercial Insurance Package (Property, Casualty, and Auto) and Workers'
Compensation insurance through PG IT which is a premier insurance organization for public entities and
is a non -assessable Trust approved by the Florida State Legislature. The PGIT board of trustees has
elected to purchase an extremely conservative excess of loss insurance structure which provides PGIT
members several levels of protection that reinsurance does not. PGIT's excess of loss policies list every
individual member a named insured, giving every member direct access to the insurance company for
payment of claims.
Public Risk Underwriters (PRU), which is a premier insurance service organization for public entities and
is part of Brown & Brown, is the underwriting group that tailors customized insurance services and
products for the City.
The City has had a Commercial Package Policy (Property, Casualty, and Auto) and Workers
Compensation insurance coverage with PGIT since October 1, 2003. Prior to this date, from July 1,
2001, through October 1, 2003, insurance coverage was split between First Specialty Insurance for
Property and Coregis Insurance for General Liability coverage and with the Florida League of Cities for
Workers Compensation.
FUNDING SOURCE:
Funding is available in the 2-5132 (Risk Management) operating accounts for the Commercial Package
Policy and funding is available in each department's 424000 (Workers Comp Insurance) account for the
Workers Compensation Policy.
ATTACHMENTS:
Resolution
2026 Summary of Renewal Premiums
Insurance Renewals Spreadsheet - FY 26 - 27
Item Number: 9.13
25