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Home My WebLink AboutReso 2008-1284 RESOLUTION NO. 2008- 12 8 l/ A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, APPROVING THE RENEWAL OF THE CITY'S PROPERTY, CASUALTY, AND AUTO INSURANCE WITH THE PREFERRED GOVERNMENT INSURANCE TRUST (PGIT), FOR THE REVISED POLICY PERIOD OF JULY 1, 2008 THROUGH SEPTEMBER 30, 2009, IN THE AMOUNT OF FIVE HUNDRED EIGHTY -TWO THOUSAND NINE HUNDRED TWENTY -FOUR DOLLARS ($582,924.00), AS OUTLINED IN EXHIBIT "A"; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Sunny Isles Beach wishes to renew the City's Property, Casualty, and Auto Insurance with the Preferred Government Insurance Trust (PGIT); and WHEREAS, the City's Insurance Broker, Brown & Brown Insurance, Inc. has provided a Proposal by Preferred Governmental Insurance Trust (PGIT), for a 15-month package policy which allows the City to take advantage of a recent reduction in property insurance rates; and WHEREAS, the City wishes to renew its Commercial Package Policy (Property, Casualty, Auto) with Preferred Governmental Insurance Trust (PGIT), in the revised policy period of July 1, 2008 through September 30, 2009, with the renewal premium in the amount of Five Hundred Eighty-Two Thousand Nine Hundred Twenty-Four Dollars ($582,924.00), as outlined in Exhibit "A", attached hereto. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section I. Approval of Renewal. The City Commission hereby approves the renewal of the City's Property, Casualty, and Auto Insurance with the Preferred Government Insurance Trust (PGIT) through the City's Insurance Broker, Brown & Brown Insurance, Inc., in the revised policy period of July I, 2008 through September 30, 2009, in the amount of Five Hundred Eighty-Two Thousand Nine Hundred Twenty-Four Dollars ($582,924.00), as outlined in Exhibit "A", attached hereto. Section 2. Authority of City Manager. The City Manager is hereby authorized to do all things necessary to effectuate this Resolution. Section 3. Effective Date. This Resolution shall become effective upon adoption. PASSED AND ADOPTED this 19t1l day of June 2008. R2008. Insurance Renewal Pgit (Property, Casualty, Auto) Page I of2 ATTEST: ~A~ Jane A. Hines; CMC, City Clerk Vote: t; -0 Mayor Norman S. Edelcup Vice Mayor Lewis Thaler Commissioner Roslyn Brezin Commissioner Gerry Goodman Commissioner George "Bud" Scholl R2008-lnsurance Rencwal Pgit (Property, Casualty, Auto) Pagc 2 01"2 Moved by: ~~ GOO\:'t)t1W Seconded by: y\ U rf\(J.~} tl"MA:L-UL ~(Yes) v(Yes) l./(Y es) -.k:::(Yes) ~es) _(No) _(No) _(No) _(No) _(No) .. WATERS RISK MANAGEMENT 6580 64TH AVENUE NORTH. PINELLAS PARK, FLORIDA 33781-5218 . TELEPHONE (727) 546-5644. FAX (727) 546-2712 Independent Risk Management and Employee Benefits Management Consulting Only - No Sales Allan Paul Waters, CPCU,CLU,ARM,AIC Member. Societ~' of Risk Mana~em('nt Consultants .I. Hayden Knowlton, CPCU,ARM,AIC :\lember. Soci('t~, of Risk :\lana~eml'nl Consultants June 16, 2008 To: Mr. Doug Haag, Assistant City Manager, City of Sunny Isles Beach From: Al Waters CPCU, CLU, ARM, AIC Re: Sunny Isles Beach Insurance Proposals The City of Sunny Isles Beach's property/casualty insurance renews October I, 2008 through Brown & Brown Insurance in the Preferred Governmental Insurance Trust (PGIT). This year PGIT offered the City the opportunity to renew its insurance early, effective July I, in a favorably priced 15 month package policy through September 30,2009. The City agreed this would be an attractive offer, and it also solicited a proposal from the Florida Municipal Insurance Trust (FMIT) as competition. The competition was not subject to a formal Request for Proposals process. Brown & Brown/PGIT did not include workers compensation insurance in their proposal. FMIT included it. You said workers comp was not to have been a part of the competition. You asked us to review the proposals other than workers compensation and give our comments. We reviewed only those coverages proposed in the documents we were provided. ALL OR NONE PRICING The pricing of the Sunny Isles Beach insurance account by PGIT and FMIT is based on the City's acceptance of the entire proposal of either proposer. PGIT's proposal states "Deletion of any coverage presented, Package and/or Workers Compensa- tion will result in re-pricing of account." As mentioned, PGIT did not include workers compen- sation in its proposal. FMIT states "This is a package quote. If any of the lines of coverage are not accepted, the other line pricing will change or coverage offerings on the remaining lines could be withdrawn alto- gether. Property is not offered on a stand-alone basis." Accordingly, neither proposal includes the opportunity to "mix and match" the best premi- ums/coverage from one proposal with the best premiums/coverage from the other proposal. The overall premiums for the basic coverages are about $52,000 apart: PROPOSER OVERALL PREMIUM Preferred Governmental Insurance Trust (PGIT) $582,924 Florida Municipal Insurance Trust (FMIT) $530,978 Sunny Isles Beach Insurance 2008 Property/Casualty Insurance Proposals... page 2 PROPERTY INSURANCE As you can see, FMIT is about $44,000 less for its property insurance, accounting for the bulk of the $52,000 overall premium difference. PROPOSER PROPERTY INSURANCE PREMIUM $290,471 $246,946 Preferred Governmental Insurance Trust (PGIT) Florida Municipal Insurance Trust (FMIT) Unfortunately, there is a major problem with the FMIT proposal; it contains a windstormlhail limit of coverage of $10,000,000, which is only about 37% of the City's approximately $27,000,000 of real and personal property. The deductible for windstorm insurance through PGIT is 5% of named windstorms, per occur- rence, subject to a minimum of $20,000. The windstorm deductible for FMIT is also 5%, but subject to a $100,000 minimum deductible for property within 1/2 mile of coastal water. For locations 1/2 mile or more from coastal water the deductible is 5% subject to a $5,000 minimum. The deductible through FMIT applies to all windstorms (whether named or not) and hail. In speaking with you about the FMIT windstorm coverage being limited to only $10,000,000, you stated it is unacceptable. Also, FMIT's $100,000 minimum windstormlhail deductible for property within 1/2 mile of the water could alone exceed the premium savings. OTHER COVERAGES The following are some differences in the other coverages: COVERAGEIDEDUCTIBLE PGIT FMIT Employee Dishonesty $1 ,000,000 $250,000 General Liability $5,000,000 $5,000,000 General Liability Deductible $2,500 $2,500 Law Enforcement Liability Limit $5,000,000 $5,000,000 Law Enforcement Liability Deductible $10,000 $2,500 Public OfficialslEmployment Practices Limit $3,000,000 $5,000,000 Public OfficialslEmployment Practices Deductible $5,000 $2,500 Business Automobile Liability $5,000,000 $5,000,000 Business Automobile Liability Deductible $2,500 $0 The FMIT deductibles are more favorable. The PGIT coverage for Public Officials Liability and Employment Practices Liability is on a "claims made" basis. FMIT's coverage for these risks is "occurrence". Sunny Isles Beach Insurance 2008 Property/Casualty Insurance Proposals. .. page 3 If the PGIT Public Officials/Employment Practices Liability insurance were to be discontinued in favor of FMIT, a coverage gap would be created by the claims made coverage for claims which occurred before July 1,2008, but which are reported in the future. The current policy would provide extended discovery coverage for only 60 days, and would re- quire an equivalent of a full annual premium to extend the discovery period for a year. FMIT's proposal also includes an additional premium of $13,510 to provide one year of retroac- tive coverage for claims which occurred up to one year before July 1, 2008. I asked if the retro- active date could be extended further and FMIT quoted $11,334 to go back two additional years. CONCLUSION The City of Sunny Isles Beach has an opportunity to change its insurance program from PGIT to FMIT, for a premium savings of approximately $52,000, but the bulk of the savings would come from greatly reducing the City's coverage with regard to windstorm and hail losses. Currently, the City's real and personal property is valued at about $27,000,000, and FMIT will only provide $10,000,000 of coverage for damage by any wind and hail. Also, FMIT's windlhail deductible for properties within 1/2 mile of the water is a minimum of $100,000 versus $20,000 for PGIT. There are some differences in the other coverages, but even if the City wanted to combine the property insurance from one proposal and the other coverages from the other proposal, the pro- posals were not structured so as to allow the premiums quoted in a mix and match situation. Since it is the City's opinion that the windstorm coverage offered by FMIT is unacceptable, we must conclude that it is the City's best option is to renew with PGIT for 15 months at a premium that is approximately $7,000 less than last year's 12 month annual premium. It is our understanding that City staff has been well pleased with the service provided by PGIT and Brown and Brown. sh ..e CITY OF SUNNY ISLES BEACH 2008 PROPERTY INSURANCE PROPOSALS Jimi, Annual Premium Urn;' Annual Premium 1011107-08 Premium 15 Mo. Option 15 Mo. Option $299,474 $5,000 Oed $290,471 $5,000 Oed $246,946 5%/SIOOK l\lin 1/2 milt' YJ 1$20.000 MOl Oed In Property coast.., watt'r'S In Property $18,908 $17,993 In Property $1,885 $5,000 Oed $2,242 $1,000 Oed In Property $1,718 $32,033 $2,500 Oed $73,121 $2,500 Oed $77 ,381 $37,527 $5,000 Oed $29,450 $2,500 Oed $37,535 $16,083 $5,000 Oed $15,438 $2,500 Oed In P.O. Liability I Year Premium $10,000 Oed $13,519 $39,409 $10,000 Oed $40,850 $2,500 Oed $34,160 $128,035 $2,500 Oed $89,265 No Oed. $93,553 $16,191 $2,500 Oed $24,094 $1,000 Oed $26,166 $589,545 $582,924 $530,978 $10,000 Oed $11,334 Agency Representative Title Telepllone Number Fax Number Email PREMIUM Property/Boiler and Macllinery Windstorm Inland Marine Crime City Manager/Finance Oirector General Liability Public Officials Liability Employment Practices Liability POUEPL Extended Oiscovery - One Year POUEPL Prior Acts - One Year Law Enforcement Liability Automobile Liability Automobile Pllysical Oamage TOTAL PREMIUM POUEPL Prior Acts - Two Additional Years PREMIUM OPTIONS Property GeneraVProfessional Liability Automobile Liability PROPERTY INSURANCE Coverage Limits Coinsurance Building and Contents Limit Windstorm/Hail Limit Contractor's/Mobile Equipment Electronic Oata Processing Equipment Fine Arts Otller Inland Marine Rented, Borrowed, or Leased Equipment Valuable Papers Watercraft - Not Hull Coverage, Limited to Property Perils Only Additional Coverages Accounts Receivable Additional Expense Animals Loss of Business Income Oebris Removal Oemolition, Ordinance, and Increased Cost of Construction Fire Oepartment Cllarges Fungus Cleanup Expense Lawns, Plants, Trees and Shrubs Limit New Locations Personal Property of Employees Pollution Cleanup Expense Limit Recertification Service Interruption Cllarge Transit Errors and Omissions 6/10/08 FMIT Brown and Brown Robert Hollander Executive Vice President 800 432-8844 305 822-5687 rllollander@bbmia.com $10,000 Oed $25,000 Oed $10,000 Oed $25,000 Oed $5,000 Oed $245,427 $239,622 $149,882 $144,006 $84,453 None $26,785,000 Policy Limit $174,019 $500,000 $360,137 $60,000 $50,000 $1,000,000 $219,400 100% $27,660,000 $10,000,000 $219,400 Included $15.000 item/$I 00.000 year Included $25.000 location/$250.000 max $250,000 $500,000 $1 ,000/$5,000 $500,000 $250,000 $250,000 $25,000 $2,500/$10,000 $25,000 $1 ,000,000 $25,000/$50,000 $50,000/$50,000 $10,000 $100,000 $250,000 $15,000 $50.000 location/$250.000 occurrence $100.000 locations/$500.000 occurrence $5,000 for deatll in line of duty $200,00 max limit per fund year $2.000.000 bldg/$500.000 peronal prop WATERS RISK MANAGEMENT CITY OF SUNNY ISLES BEACH 200S PROPERTY INSURANCE PROPOSALS Agency Reprcscntativc Tillc Telcpllone Numbcr Fax Numbcr Email Flood Limit - Pcr Occurrcncc and Aggrcgatc Exccss of NFIP (wlletllcr purcllascd or not) Outdoor Signs - otllcr tllan signs attacllcd to buildings Tcrrorism EDP Equipmcnt (Software) Off Premiscs Power Failure CRIME COVERAGE Coverage Limits Employee Dislloncsty - Pcr Loss Forgcry & Altcration Tllcft. Disappcarance or Destruction Computer Fraud GENERAL LIABILITY COVERAGE Coverage Limits Gcneral Aggrcgate Limit Products & Completed Operations Aggregatc Limit Bodily Injury and Propcrty Damage Limit Pcrsonallnjury and Advcrtising Injury Limit Firc Damagc Legal Liability Limit Mcdical Paymcnts Employee Bcncfits Liability Limit Pcr Person Retro 10/ I /2000 Employee Bencfits Liability Aggregate Rctro 10/1/2000 No Fault Scwcr Backup Limit LA W ENFORCEMENT LIABILITY COVERAGE Coverage Limits Law Enforccmcnt Liability Limil - Per Pcrson Law Enforccmcnt Liallility Limit - Per Occurrcncc Law Enforccmcnt Liabilily Limit - Aggrcgatc PUBLIC OFFICIALS LIABILITY COVERAGE Coverage Limits Public Officials Liability Limit - Pcr Claim Public Officials Liability Limit - Aggrcgatc EMPLOYMENT PRACTICES LIABILITY COVERAGE Coverage Limits Employmcnt Practices Liability Limit - Per Claim Employment Practiccs Liability Limit - Aggrcgate BUSINESS AUTOMOBILE COVERAGE Coveragc Limits Bodily Injury and Propcrty Damagc Liability - Any Auto Pcrsonallnjury Protection - Autos Subjcct to PIP Law Mcdical Paymcnts - pcr pcrson - All Owncd Autos Uninsured Motorists Covcrage (Non-Stackcd) - All Owned Autos Hircd & Non-Owned Automobilc Liability - Hired/Non-Owncd Autos Hircd Auto Pllysical Damage - Hircd Autos Towing and Labor Per Disablemcnt - All Owned Autos Prcmium Audit, Gcncral Liability. Auto Gcneral Liability/Professional Liabilty Stop Loss 6/10/08 Brown and Brown Robert Hollander Executive Vice President 800 432-8844 305 822-5687 rhollandcr@bbmia.com Urnil Annual Premium $5,000.000 $1.000,000 $250,000 $250,000 $250.000 $5.000,000 Included $5.000.000 Included $50.000 $2.500 $5,000.000 $5.000,000 $1.000/$5,000 $5,000.000 $5,000.000 $5.000.000 $3,000,000 $3,000.000 $3,000.000 $3.000,000 $5.000,000 Statutory $5.000 $100.000 $5,000.000 $50.000 $1.000 No WATERS RISK MANAGEMENT FMIT lim;t Annual Premium $5.000.000 max per member per oce $10.000 $5.000.000 max per occ for loss/damage S 1lI0,O()() rCf (l<.:l.: for IllCl.:halllo.:al nrcakdowll $100.000 $250.000 $250.000 $250.000 $250.000 $5,000.000 $250.000 $5,000.000 $5,000.000 In Public Officials $5.000.000 $10,000 $5.000 Yes $156.890 2 BFo~n ~rown Brown & Brown of Florida, Inc. Spessard Holland Bldg. Suite 400 8000 Governors Square Blvd. Miami Lakes, FL33016-1588 305/364-7800 . Toll Free 800/432-8844 FAX 305/822-5687 :l III June 5, 2008 Douglas M. Haag Assistant City Manager City of Sunny Isles Beach 18070 Collins Avenue Sunny Isles Beach, Florida 33160 Re: Brown & Brown/Preferred Governmental Insurance Trust (PGIT) 15 Month Package Policy Option Dear Doug, I am very pleased to offer the enclosed proposal for the PGIT 15 Month Package Policy Option. This option allows the City to take advantage of reduced insurance premiums specifically property insurance rates effective July 1, 2008. The expiration date of 10/1/09 provides firm premiums that can be included in the City's 2008-2009 budgets and will avoid any possible property premium fluctuations that may result from this hurricane season. If this option is accepted a statement will be issued by PGIT effective 7/1/08 reflecting both a credit for the fourth quarter rate reduction and an invoice for the 15 month premium from 7/1108-10/1/09. The annual premium net of the credit will be due on 10/1/08. I look forward to reviewing this proposal with your and your staff as soon as possible. Sin:/~ R6bert P. Hollander &~utive Vice President encl. Exhibit "A" REVISED COMMERCIAL INSURANCE PROPOSAL 7/01/08 - 10/01/09 Prepared For CITY OF SUNNY ISLES BEACH Prepared By ROBERT HOLLANDER Executive Vice President Miami Division Ph: 305-364-7818 Fax: 305-822-5687 Date Prepared June 9, 2008 BroW1l & BroW1l of Florida, Inc. To protect members of the fund from large losses and to protect the financial security of the fund, the PGIT board of trustees has elected to purchase an extremely conservative excess of loss insurance structure. We stress PGIT excess of loss structure because an excess structure provides PGIT members several levels of protection that reinsurance does not. Foremost among these is the fact that 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. Reinsurers are only responsible to the trust itself. Therefore, if a trust became financially troubled, there is no guarantee from an insurance company that any individual claim will be paid or even that a reimbursement will go towards the originating claim. PGIT is a non-assessable Trust authorized under Florida Statute and is not rated by AM Best. PGIT members are not constrained by notice requirements or punitive run-off claims costs to exit. Public Risk Underwriters (PRU) Public Risk Underwriters, as part of Brown & Brown, is one of the premier insurance service organizations for public entities in the United States. Our exclusive focus and in- depth understanding of the unique risk exposures and operating environment of the public sector allows us to tailor customized products and services to meet our clients' needs. Preferred Governmental Claims Solutions (PGCS) PGCS is dedicated to exclusively serving Florida governmental agencies. PGCS administers and closely controls all claims from start to finish. This team of full-time, licensed adjusters understands federal laws and state statutes governing actions against public entities. A toll-free telephone number is provided to facilitate reporting of claims 2 Brown & Brown of Florida, Inc. INTRODUCTION OF THE ACCOUNT SERVICING TEAM BROWN & BROWN MIAMI ~ Commercial Insurance (Property & Casualty) Primary Contacts . Robert Hollander Direct Tel. 305-364-7818 Executive Vice President rhollander@bbmia. com . Eddie Hernandez, AAI, CRIS Account Manager ehernandez@bbmia. com Direct Tel. 305-364-7867 ~ Marketing (Property & Casualty) . Marcel McSweeney, AAI Marketing Manager mmcsweenev@bbmia.com Direct Tel. 305-364-7803 ~ Surety Division (Bonds) . Carmen Pillot, ACSR cpillot@bbmia.com Direct Tel. 305-364-7815 ~ Employee Benefits (Life, Health, Disability, Pension) . Samantha Alvarez Direct Tel. 305-364-7829 Benefits Manager salvarez@bbmia. com ~ Personal Lines (Automobile, Home, Boat etc) . Alex Lopez Personal Lines Supervisor alopez@bbmia.com Direct Tel. 305-364-7847 Bro:n ~rown . ~ 8000 Governors Square Boulevard, Suite #400 Miami, Florida 33016 Phone 305-364-7800 0 Fax. 305-822-5687 Toll Free 800-432-8844 www.bbmia.com 3 Brown & Brown of Florida, Inc. COMMERCIAL PROPERTY COVERAGE SECTION FOR A FULL DESCRIPTION OF TERMS, DEFINITIONS AND CONDITIONS PLEASE REFER TO THE POLICY DOCUMENT COVERAGE LIMITS (*) $ 26,785,000 Building & Contents Limit, per attached schedule Coverage Limits must be ultimately chosen by the Insured. We as Agents cannot recommend the adequate limit of protection. Higher limits may be available. Please let us know if a quote is desired. COVERAGE TERMS AND CONDITIONS Covered Losses Special Perils Coverage Including Boiler & Machinery Coverage Valuation Replacement Cost Coinsurance N/A Deductible o $5,000 All perils per occurrence except as stated below: o 5% Named Windstorm Deductible Per Occurrence subject to a minimum of $25,000 (*) Exclusions Exclusions include, but are not limited to, the following: War and Terrorism Flood Earthquake (*) This Wind & Hail Deductible can be reduced to a lower deductible through the purchase of a Windstorm Deductible "Buy-Back" policy which is available in the Excess & Surplus Lines market. The annual cost is approximately $20.00 PER $100 of coverage (the amount of buy-down). 4 Brown & Brown of Florida, [ne. COMMERCIAL PROPERTY LOCATION SCHEDULE FOR A FULL DESCRIPTION OF TERMS, DEFINITIONS AND CONDITIONS PLEASE REFER TO THE POLICY DOCUMENT Descript.Ofl Year Built Eft Date Building Value Unit # TQtallnsured Value Address Const Type Term Date Contents Value Water Pumps 1989 0710112005 5,,00,000 001 191511lBayRoad 5600,COO Sonny IS:e5 Beach, FL 331,,0 251 - 10101l2oo9 SO Pumpl Lift Station City Hall and P arl<ing Gara;e 2004 07 {O1l2008 $17,0.00,000 002 1 B070 Collins A,'enue SIB,COO,OO{) Sunny Isles Beach, FL 33160 131 - FR 10101/2009 51,0.00.000 3000 Galloo Cnesel Fuel Ta~,k 07iOI12005 520.000 003 I B070 Collins A,'enue 520,Coo Sunny Isles Beach, FL 33 160 223 . On 1010112009 SO Grouno liqUid Storage Tanl.: Stora';!.. Lockers - Contents Only 13 units, 55,000 eachl 2005 07101/2005 SO 004 301 Sunny Isles Blvd 515,':00 Sunny Istes Beach. FL 331 60 151. MFa 10101/2009 $15,00<) Samson Park Restrooms 2000 07101/2008 $~,O.OOO 005 17425 Collins Ave S50,COO Sunny Isles B",ach, FL 33 160 131 - FR 1010112009 SO Ilon:hside Ocean 2 Res..rooms 2.00:' OnOI/2OO5 $~,O I DOC' 006 19201 Collins Ave 550.. COO Sunny Isi"'$. Beach, FL 33160 1~,2 - IIC 101011200:; SO :.nno?x Building 1996 07101/2008 $:>'00,000 007 19200 Collins A'/.. 5375,00{) Sunny Isl",s Beach, FL 33160 119 -.1M 10101/2009 575,000 Pier Park Restroom< 2OC." 0710112008 $50.000 008 16501 Collins Ave $ 50, COO Sunny Isle; Beach, FL 33160 131 - FR 1010112009 SO Community Center 2007 07.'0112008 $4,000.000 009 18115 Collins Avenue 54,200,C')0 Sunny Isles Beach, FL 33160 131 - FR 1010112009 5200,000 Gynaslum 2007 0710112005 $3,000,000 010 18115 Collins Avenue 53.050.. COO Sunny Isles Beach, FL 33160 131 . FR 1010112009 $~,O.OOO Lessor's Risk Office/Retail Building 1954 07101/2005 5375.000 011 287 Sunny Isles Blvd 5375,COO Sunny Isles Beach, FL 33160 119 -.1M 10101/200:; SO I Total:1 $25,++~"OOO 1 51,340.000 I 526,785,0.00 5 Brown & Brown of Florida, Inc. PROPERTY COVERAGE EXTENSIONS FOR A FULL DESCRIPTION OF TERMS, DEFINITIONS AND CONDITIONS PLEASE REFER TO THE POLICY DOCUMENT COVERAGE LIMIT Accounts Receivable $250,000 Additional Expense Loss of Business Income $500,000 $1,000/$5,000 $500,000 Animals Debris Removal $250,000 Demolition, Ordinance, and Increased Cost of Construction Fire Department Charges $250,000 $25,000 $2,500/$10,000 Fungus Cleanup Expense Lawns, Plants, Trees and Shrubs Limit $25,000 $1,000,000 $25,000/$50,000 $50,000/$50,000 $10,000 $100,000 $250,000 $15,000 New Locations Personal Property of Employees Pollution Cleanup Expense Limit Recertification Service Interruption Coverage Transit Errors and Omissions Flood Limit - Per Occurrence and Aggregate Excess of NFIP (whether purchased or not) - $5,000 Deductible $5,000,000 6 Brown & Brown of Florida, Inc. INLAND MARINE COVERAGE FOR A FULL DESCRIPTION OF TERMS, DEFINITIONS AND CONDITIONS PLEASE REFER TO THE POLICY DOCUMENT COVERAGE LIMITS (*) $ 174,019 Contractor's / Mobile Equipment $ 500,000 Electronic Data Processing Equipment $ 360,137 Fine Arts $ 60,000 Other Inland Marine $ 50,000 Rented, Borrowed, or Leased Equipment $ 1,000,000 Valuable Papers $ 219,400 Watercraft - Not Hull Coverage, Limited to Property Perils Only $ 2,363,556 TOTAL VALUES * Coverage Limits must be ultimately chosen by the Insured. We as Agents cannot recommend the adequate limit of protection. Higher limits may be available. Please let us know if a quote is desired. COVERAGE TERMS AND CONDITIONS Covered Losses Special Perils Coverage Valuation Actual Cash Value Coinsurance N/A Deductible Per Attached Schedule Exclusions Exclusions include, but are not limited to, the following: War and Terrorism (**) Flood Earthquake (**) See Premium Summary Page for an option to include Terrorism Coverage as outlined in the Federal Terrorism Act 2002 7 Brown & Brown of Florida, Inc. INLAND MARINE SCHEDULE FOR A FULL DESCRIPTION OF TERMS, DEFINITIONS AND CONDITIONS PLEASE REFER TO THE POLICY DOCUMENT It€'m 11- D€'scriplien Classificalion Ced€' Ett. Date Value Deductible Term Date 001 Unscheaul",d Items Cemraclor's I Mebile 07/01(20)8 5100.00::1 $5.00: EqUipmenl 10/01(20)9 002 200E Yamaha PO.TV SN E.'y'4AJ15Y15AD01293 Ccmraclor's .. MoObile 07/01120)8 $7.088 $5.00" Eqo.;,pn>i?nt 10/01120:>9 003 ~ooe, Yan'laha AT\/ SN E.Y4.AJ; 5YD5AJC4E,54 Ccn~r.:;ctor's .. '.loObile 07/01120)8 $7, DB8 $5.00: Equ.pn>i?nt 10/01120)9 004 200::: Yamaha Kea..ak 400 ATV SI-: 5Y4PoJ1EY45AOOl182 Ccn~r.:;clor'si Mcbile 07/01120)8 $8,916 $5.00: Equ,pment 10/0112(1)9 005 2CtJE Yamaha Koa.ak 4.JO A TV 51-: 5Y4PoJ1EY05AOC'"'J2~ Ccn:r.:;clor's .. Mcbile 07/01120:>6 $7.()(,0 $5.00: EqU'lpment 10/0112(1)9 006 2CX1E 300cat Leade-r Ccn:r.:;cto"'s .. MoObile 07/01120J8 522. 299 $ 5.CO" Eqo.;pm"nt 10/01120)9 007 200e Yamaha ATV. JY4AM03Y~,6CJ83..5C (Life-tl'Jard Dept) Ccn~r.:;cto"'s" MoObile 07/0112(1)6 $9,476 $5.00: EqL"'pment 10/01120)9 008 Se-gway Human Tr.:;nsporter 2'JC.5 Con~r.:icto""s l Mobile- 07/01 /2008 $5.00::1 $5.00: EqL 'pment 10/0112009 G09 Unsch-ec ui€'d ltems E;ee-:ronic Cata Prcc,="ssing 07/01/20:>6 55oo.00:J 55.0X EqLpment 10/0112009 G10 SC"IIl;p1lAe - u Rlsir19 Horizons" Fine ~.tts 07/0112006 5160.000 55.0,X 10/01120:>9 011 SCl;i:p~L'ie - "Family. Fine Po.'ts 07/01l20:>6 5190.000 S5.OC( 10/0112009 012 China Oilmerliare Se-t SN TB.t>. Fine ":'.~ts 07/0112008 510.1;17 $5.'X( 10/01120:>9 013 Unscheaul€'d Items Otne. Inl.:;nd .'.brine 07/0112006 560.00::1 55.00: 10/01120:>9 014 Unscheaule-d It'?ms Ren~e<I. Borrewed. Leased 07/01l2O:>6 550.00:1 $5.00: Eqo.;:pm'?nt 10/01/20:>9 015 Llnscheaul€'d ~ems Val'Jable ,".:;oers 07/0112008 5I,ooo.OOJ 55.0:.: 10/01/20:>9 016 1 ~~2 Fou'ltain 27' 'l~'3tercr a"1 07/0112006 525.O:>J 55.0:.: 10/01 /2009 017 ~C()e 251 Foot ::cn\,'Ylarlder ram Poli.:€- V~ss,€'1 inciudir,.~ aH ;:,;ccE'Sscln€-s or, '/I./.3t~r-::r ..~~ 07/0112006 5160.000 55.IX( file w.'Trusl 10/01/20:>9 018 2DOc Yamaha FX 140 ,let SkI "YAM';Be031405 SN Y"'M.t>.;3e,e""O~ '/,.i.3tercr aft 07/01120:>8 $5.60::1 $5.lY,Xj 10/01120:>9 019 2C()E Y.:;,maha FX 140 ,leI Sk =YAMA.272514:J5 S:~J YAMA2728"~Oe: 'lv.3tercraft 07/0112006 $.5.60:1 55.00: 10/0112(09 020 ~ooe Yamaha P';:C J~: Sk. ~YAr\'1A.273D14D5 SN YA.:Vt~272.D1405 'l\l~tercr a~ 07/01120:>6 $5.60::1 55,IX( 10/01120:>9 02' ~C'JE Yamaha FYVC Je: Skl ~YAMA209214D5 S'J 'r'Al.tt>.2209214D5 'l~.3tercr- 3'1 07/0112008 $5.600 55.00: 10/01120:>9 022 Ya,man03 t-<odiac ATV Ccn~r.:;clo"'s .I MoObile 07/01120:>6 $7,086 55.00: EqL"pr1.ent 10/0112009 I Total I 52.363.556 r 8 Brown & Brown of Florida, Inc. PROPERTY COVERAGE DEFINITIONS FOR A FULL DESCRIPTION OF TERMS, DEFINITIONS AND CONDITIONS PLEASE REFER TO THE POLICY DOCUMENT SPECIAL CAUSES OF LOSS COVERAGE This coverage will protect covered property against direct loss arising from any cause not specifically excluded. The advantage of this form is that the insurance company must prove that a loss is specifically excluded in order to deny coverage under the policy. REPLACEMENT COST VALUATION This loss valuation method pays for the cost to repair or replace damaged items with like kind and quality without deduction for depreciation. This is important since you could face a substantial loss if you must replace property at today's prices but receive only the depreciated value of the property that was destroyed. ACTUAL CASH VALUE VALUATION This valuation method pays for the cost to repair or replace damaged property with like kind and quality, less reasonable deductions for wear and tear, deterioration and economic obsolescence. BUSINESS INCOME WITHOUT EXTRA EXPENSE This coverage is used to insure against loss of income (including any continuing normal operating expenses) that you experience because of a suspension of your business and/or interruption of rental income when insured property has been damaged by a covered peril. EXTRA EXPENSE COVERAGE This coverage pays for the necessary additional expenses needed to continue business when a covered loss damages or destroys insured property. DEDUCTIBLE A policy may include a deductible in its provisions. This limit specifies the amount that will be deducted from any payment made to you because of a covered loss. SERVICE INTERRUPTION COVERAGE This coverage extends your business income and extra expense insurance to protect i'lgainst loss when due to the interruption of services rendered to you by a specified utility that provides your business with water, power or communications. Loss due to overhead transmission lines is excluded. DEMOLITION, ORDINANCE, AND INCREASED COST OF CONSTRUCTION LIMIT This coverage will protect you against loss due to the enforcement of existing building or zoning laws that results in additional costs to rebuild or demolish an insured building. Coverage for the loss of any undamaged portion of such buildings can also be insured. BOILER & MACHINERY COVERAGE Boiler & Machinery insurance covers direct damage to "covered property" when caused by sudden and accidental BREAKDOWN and includes as a covered peril Electrical Arcing. Covered Property means any mechanical, electrical or boiler equipment on premises, such as (but not limited to): machinery & equipment, air-conditioning units, elevators, phone systems etc. EQUIPMENT FLOATER COVERAGE This policy is designed to cover your mobile equipment while it is stored on premises, in transit or at temporary locations or jobsites. Larger equipment items are specifically scheduled with separate amounts of insurance applying to each covered piece. Miscellaneous smaller items are grouped under a single blanket limit subject to a maximum value for anyone item per loss. 9 Brown & Brown of Florida, Inc. COMMERCIAL CRIME COVERAGE FOR A FULL DESCRIPTION OF TERMS, DEFINITIONS AND CONDITIONS PLEASE REFER TO THE POLICY DOCUMENT COVERAGE LIMITS (*) Limit Deductible Coverage $ 1,000,000 $ 250,000 $ 250,000 $ 250,000 5,000 5,000 5,000 5,000 Employee Dishonesty - Per Loss Forgery & Alteration Theft, Disappearance or Destruction Computer Fraud * Coverage Limits must be ultimately chosen by the Insured. We as Agents cannot recommend the adequate limit of protection. Higher limits may be available. Please let us know if a quote is desired. COVERAGE PROVIDED Employee Dishonesty - Blanket Basis This coverage is used to insure against loss of money, securities or other property belonging to you, or for which you are liable, that is caused by employee dishonesty. It pays for anyone loss caused by one or more employees up to the face amount stated on the form. Only the actual loss sustained in the policy period is included for coverage (progressive or continuous loss over multiple years outside the policy period is excluded) Forgery or Alteration This coverage is used to insure against loss resulting from forgery of checks, drafts, notes or other similar written promises prepared by you or your agent. It does not cover dishonest acts of employees, which must be insured by Employee Dishonesty coverage. Theft, Disappearance and Destruction This coverage is used to insure against loss of money and securities caused by theft, disappearance or destruction while located inside or outside your premises. It also covers damage to premises resulting from actual or attempted theft. It insures only money and securities and not other types of property. Computer Fraud This insurance will cover loss or damage to money, securities, and other property due to computer fraud. Computer fraud is defined as "theft of property by and directly related to the use of a computer." 10 Brown & Brown of Florida, Inc. COMMERCIAL LIABILITY COVERAGES FOR A FULL DESCRIPTION OF TERMS, DEFINITIONS AND CONDITIONS PLEASE REFER TO THE POLICY DOCUMENT GENERAL LIABILITY COVERAGE (*) $ 5,000,000 $ Included $ 5,000,000 $ Included $ 50,000 $ 2,500 $ 5,000,000 $ 5,000,000 $ 1,000/5,000 $ 2,500 General Aggregate Limit Products & Completed Operations Aggregate Limit Bodily Injury and Property Damage Limit Personal Injury & Advertising Injury Limit Fire Damage Legal Liability Limit Medical Payments Employee Benefits Liability Limit per Person Retroactive Date 1 % 1 /2000 Employee Benefits Liability Aggregate Limit Retroactive Date 1 % 1 /2000 No Fault Sewer Backup Limit General Liability Deductible Per Occurrence LAW ENFORCEMENT LIABILITY COVERAGE (*) $ $ $ $ 5,000,000 5,000,000 5,000,000 10,000 Law Enforcement Liability Limit - Per Person Law Enforcement Liability Limit - Per Occurrence Law Enforcement Liability Limit - Aggregate Law Enforcement Liability Deductible Per Occurrence PUBLIC OFFICIALS LIABILITY COVERAGE (*) $ $ $ 3,000,000 3,000,000 5,000 Public Officials Liability Limit - Per Claim Public Officials Liability Limit - Aggregate Public Officials Liability Deductible Each Claim EMPLOYMENT RELATED PRACTICES LIABILITY COVERAGE (*) $ $ $ 3,000,000 3,000,000 5,000 Employment Related Practices Liability Limit - Per Claim Employment Related Practices Liability Limit - Aggregate Employment Related Practices Liability Deductible Each Claim Coverage Limits must be ultimately chosen by the Insured. We as Agents cannot recommend the adequate limit of protection. Higher limits may be available. Please let us know if a quote is desired. Exclusions include, but are not limited to the following: War, Mold, Fungus, Bacteria, Silica, Lead, Pollution, Asbestos, Copyright or Patent Infringement and Nuclear Liability. II ' Brown & Brown of Florida, Inc. GENERAL LIABILITY COVERAGE DEFINITIONS FOR A FULL DESCRIPTION OF TERMS, DEFINITIONS AND CONDITIONS PLEASE REFER TO THE POLICY DOCUMENT OCCURRENCE FORM (General Liability and Law Enforcement Liability) This form provides coverage for claims arising out of an accident, which results in bodily injury or property damage neither expected nor intended. The form covers such claims that occur during the policy period irrespective of when the claim is made against you. PREMISES/OPERATIONS COVERAGE This coverage insures you against all claims arising from your ownership, maintenance or use of premises and your operations in progress. PRODUCTS/COMPLETED OPERATIONS COVERAGE This coverage is used to insure against claims arising out of bodily injury and property damage that results from products you have sold, manufactured, handled, distributed or disposed of, or for work you have performed, provided the accident occurs away from premises you own or rent. PERSONAL INJURY LIABILITY This coverage will protect you against claims alleging false arrest, libel, slander, malicious prosecution, or wrongful entry or eviction. ADVERTISING LIABILITY This coverage is used to insure against claims of libel, slander, product disparagement, piracy, or infringement of copyrights, that arise out of the advertising of your goods, products or services. FIRE LEGAL LIABILITY This coverage insures against your legal liability arising from damage to structures rented to you, for the peril of fire. I MEDICAL PAYMENTS This coverage will reimburse, without regard to your liability, all reasonable medical expenses incurred by persons as a result of bodily injury sustained by accident as defined in your policy. CLAIMS-MADE FORM - APPLICABLE TO EMPLOYEE BENEFITS LIABILITY This coverage will provide protection for only those claims reported or first made during the policy period or during any previous period that is stated in the Prior Acts or Retroactive Date option of your policy. This option allows you to keep coverage in force under consecutive Claims-Made policies. EMPLOYEE BENEFITS ERRORS AND OMISSIONS This coverage is used to insure against negligent acts, errors or omissions committed by you or any person for whose acts you are legally responsible for while engaging in the management of your company's employee benefit plans. 12 Brown & Brown of Florida, Inc. BUSINESS AUTOMOBILE COVERAGE FOR A FULL DESCRIPTION OF TERMS, DEFINITIONS AND CONDITIONS PLEASE REFER TO THE POLICY DOCUMENT Bodily Injury & Property Damage Liability - Any Auto Personal Injury Protection - Autos Subject to PIP Law Medical Payments - per person- All Owned Autos Uninsured Motorists Coverage (Non Stacked) - All Owned Autos Hired & Non-Owned Automobile Liability - Hired/Non-Owned Autos Hired Auto Physical Damage - Hired Autos Towing & Labor Per Disablement - All Owned Autos Auto Liability Deductible Each Accident Coverage Limits must be ultimately chosen by the Insured. We as Agents cannot recommend the adequate limit of protection. Higher limits may be available. Please let us know if a quote is desired. COVERAGE PROVIDED · Coverage only applies to vehicles that are owned/titled or leased in the corporate name, or business name in case of a partnership, that is specifically listed. If a business owned vehicle is furnished for personal use, an extension of coverage form may be required for proper protection. · Automobile Liability · Uninsured Motorists Coverage (Non-Stacked) · Medical Payments · Hired Automobile Liability · Employers Non-Owned Automobile Liability · Automobile Physical Damage (Coverage/Deductibles Per Schedule Overleaf) 13 Brown & Brown of Florida, Inc. SCHEDULE OF OWNED AUTOMOBILES Unit# Make ModelJDescription Department AL Elf Date Comp Oed Comp Eft Comp Term Value Qty Year VIN # Vehicle Type AL Term Dale Coli Oed Coli Eff Coli Term Valuation Type 001 Ford Ranger Cod", Enforcement 0710 112008 $2.500 07/0112008 1010112009 $15.120 1 lQW lFTvRl0V5XU8~1491 Light Truck 1 OlD 112009 52.500 07:01/2005 ICo'Ol:200g Actual Cash OO~ Fore r:ocus Cod", Enforcement 07 ~O 1/2008 $2.500 07/0112008 1010112009 $12,tI()0 1 2000 lFAFP33P3Y'N3C42S9 Private Passeng",r 1 OiO 1/2009 S2.500 07:0 112005 1 DiU 1 i2009 Actual Cash 003 Floa:-0n T',,," A.x:e B031 Trailer Pol,ice 07/01/2008 52.500 0710112008 10101/2009 S 1.~e.0 1 11193 2731344 Trailer. NO CH. ,R~,()1"2009 S2.50O Oi:O 1/2008 10.10 1120Cl\;; Actual Cash 004 Che\lrol",t S-10 Public Worlls G7101:2008 $2.500 07,'0112008 1010112009 $17.220 1 11198 lGCCS19XiW&238354 Light Truck 10/01i2009 52.500 07,'O;l~OO8 t01Q112009 Actual Cash 005 Fore Crown V,clon3 Police G7/0 li2008 52,500 07101f2oo8 1010112009 $1&.7C<l 1 Hl98 2FAF?7IW2WX 123429 Polic", Car 10/01/2009 S.2.500 07:01/2008 10,/0 112GOl; Actual Castl 008 Ford Crown Ihclona Police 07/01/2008 52.500 07/0112008 1010112001; $15.7CO 1 111...8 2 FAF"71'N3'....X 113068 Police Car 10/0112009 52.500 07:0 l!2005 10.l01120Dg Actual Casn OD7 Ford CWo\'n VlCtona Police G7lD 112008 $2.500 07/0112008 10.10112009 $la.7C.0 1 1998 2FAFP71'N'3'....X123423 Police Car 1 DiD 1/2009 52.500 07/01"200& 10101120.01; Actual Casn ODS Fora Crown Vlctona Police 071'.0112008 52.500 07/0112003 1010112009 $1&.700 1 1998 2FAF?71WOWX 123427 Police C3r 1010 I :2001; 52.50.0 07,'0 ".2008 10.''0 112001; Actual Cash OC"J Foro ere''''" \hctona Police, 07101/'2008 $2.500 0710112008 1010112009 $ 18.7C<l 1 Hl98 2FAF"71W7WX 123425 Police Car 1 0,>0 112009 S2.500 07101,'2COO8 10.1'01.'200.11 Actual Cash DID Ford Crown Victoria Polie<! DUD 1/2008 $2.500 07/0 112003 1010112009 $18.7CO 1 1998 2FAF?71W5WX123424 Police Car 1 o.o'J 1.'2009 $2.50.0 Q7,'01,'2ooa 10/01/2009 Actual Cash 011 "'ord Crown V~cton.a Police 07io. li2008 52.500 071'0112008 10/0112009 $la.iOO 1 111...8 2FAF?71W2'NX123431 PoliclO Car 10,'011'200.9 S2.500 07,'0112008 1 ClIO 112009 Actual Cash 012 Fore CrO'....n Vlctona Pofi~ G71D 11200.8 52.50.0 07/0 112008 1010112009 $113.700 1 j998 2FA"'P71WOWXI2343'0 Police Car 1 DiD li2009 S2.500 07:0112008 100l'J tl20o.l; Actu31 Cas'! 013 Fore T au'us Building 07io. 1/2008 52.500 0710112003 1010112009 $15.500 1 1999 1FAFPc,2U5M2126&1 Pnvate PassenglOr 101011200.9 52.500 07101"20013 lo.o'J1J20~9 Actual Casn 014 Ford Crown V.cloria Police 07iO 1i2008 52.500 07/0112008 1010112009 $19.140 1 j999 2F AFP71V.'6XX 1 en~e PoliclO Car lo.i01J200.9 52.500 QUO 1l2DOa 10/0 li20'Ol; Actu31 Cash 015 Foro 7 aurU"s s....'W.... Polioe 07,'01 i2008 52.50.0 07,'0112008 10.10 112009 $15.o.C<J 1 2000 1 F.t\FP5a2eY A23e852 Pnva!e Passenger 1 % 112009 52.500 07101121)0& 1 CliO 1/200.1; Actual Cas,h 016 Ford T a....rus Police Oi/O 112008 $2.500 0710112008 1 010 11200Q $17.eCO 1 2000 1 F.!lFP5222Y G 1 3158156 Pnva:e Passenger 1 Or'o 1/200g $2.500 07:01l2D08 10~OI12o'DI; Actual Castl 0.17 FOrd Cro'Nn Vlctona Polioe DUO 1:2008 52.500 07/0 112008 1010112009 $19.3e,0 1 200.0 2FAFP71W4vX 140951/ Police Car 1 DiD 11200.9 S2.50o 07:011'200& 10;01i20o.l; Actual Casn OIS Fore CroW" \ltctona PolIce OliO 112008 $2.500 0710112008 10.10112009 $19.3r30 1 2000 2FAFP71W2YX 14-01;61 Police Car 1 OiO 112009 S~.50D 07101l2DJS 10,'011200.9 Actual Cash 0.1.. Foro erovlm Vtctona Police 071\Oti2008 52.500 07,'0112008 1010112009 $19.3e.0 1 2000 2F ,ol..FP71 W2vX 1401158 PoliclO Car 10.'0 112009 52.500 07iO"'2oo8 1010 lJ2QoOl; Actual Cash 020 Foro Cro~ii\'n \/,ctona Police 07iO IJ200.8 52.500 07/011200& 1 DIU 112000 $19.36<0 1 2000 2FAFP71 WQVX 14095e PoliclO Car 10,Dl/2009 $.2.50G 07iO 1/200& 10.''011200.9 Actual Casn 021 Foro CrtM'n Vlctona Polioe 07/0112008 52.500 07/0112008 1 010 11200Q $17.5C'0 1 2000 2FAFP71""'OYX 140957 Polic", Car 10,1.01,1200'; S:.500 07101l2C'Oa 10."0112[}09 Actual Cash 14 Brown & Brown of Florida, 111C. SCHEDULE OF OWNED AUTOMOBILES Unit !' Make ModellD escri ptio n Department Al Elf Date Comp Oed Comp Eft Comp Term Value Qty Year VIN # Vehicle Type Al Term Dale Coil Oed Coil Elf Coli Term Valuation Type 022 Ford Explorer Polioe 07/01/2008 S2.5OO 0710112008 1 Q.IO 112009 $21.120 1 2000 1 FMZUnX lYUB27743 Police Car tOlO 1 12009 52.500 0710112008 10101120011 Actual Cash 023 "ord F3c{) Por.oe 07,D 112:J08 $2.500 07/0112008 1 Q.IO 112009 $17.200 1 2000 lFTS~/31S9YEC57228 Light Truck 10,1)112009 S~.50a 07:0112008 1 % 1.'20 39 Actual Casn 024 Ford Crown '.idona Polio!! 07,1)112008 S2.500 07/0112008 1010112009 $19.800 1 2001 2Fl..FP71W31X 12~D 15 Police Car 10.\) 112009 52.500 071011203& 10/011200Q Actual Cash 025 Fore Crown Victona Polioe 07/0112008 S2.5OO 0710112008 1010112009 $19.S00 1 2001 2FA~?7nN51X124016 Police Car 10.'0112:J09 52.500 C710 112C<l8 10''01.'2009 Actual Cash 026 Ford Cra....n Vlctona Polioe 07,'01/2008 $2.500 07/0112008 1010112009 $19.S00 1 2001 2FArP71W71X12~017 Police Car 10.10112009 52.500 07101/20.:18 1 Q.IQ 1 /2009 Actual Cash 027 Ford Crown Vlctona Polioe 07/0112008 $2.500 07/0112008 1010112009 $19.800 1 2001 2FA=?71W91X1240 18 Police Car 10101/2009 52.:00 07101/2038 1 % 1/2009 Actual Cash 028 Ford Cro'o'm V,clona Por.oe 07/0".2008 S2.500 07/0 112008 1010112009 $1'.., SOD 1 2001 2FA;:P71'....0 1 X12401'" Police Car 1010112009 52,500 07101m38 10''O1l2009 Actual Casn 02{l rord Crown Victoria Polioe 07/0112008 $2.500 07"0112008 1010112009 $19,8()) 1 2001 2FA;:P71W71X 12402'3 Police Car 1 Q.i0 112009 S2.50:J 07101/2C()8 10/0112009 Actual Cas!) 030 Fore Cra....n V.ctona Pohce 07/01/'2008 52.500 0710112008 10.10112009 $19.80'3 1 2001 2FAF?71W01X124022 Police Car 10101:2009 52,500 07101/2008 10.10112009 Actual Cas" 0.31 Ford Cra...'n V,ctona Police 0710112008 S2,500 07/0112008 10l0112oo9 $19.80.0 1 2001 2FA=P71'....21X 124.023 Police Car 1010112009 S2.500 07,'0 U2OO; 1 0"0 11200Q Actual Cas'" 032 =ore Crown \hctona Police 0710112008 $2,500 07/0112008 1010112009 SI9,SOO 1 2001 2FA;=P71W41X12~024 Police Car 1010 1/20011 $2,500 0710112008 IO/01/200Q .Actual Cash 033 ;:ore Cra....n V,clona Polioe 07101120{)S $2.500 07/01/2008 1010112009 $19.80.0 1 2001 2F.~=?71Wol X 12~025 Police Car 1 Olo. 1/20011 S2.508 07/01/200; 10.101/2009 Actual Ca!>l'l 034 Ford E .plorer Police 0710 1 1'2008 S2.500 07.'0112008 1010112009 $21,600 1 2001 I FMZU72E3 ; ZA:.4 351 light Truck 10/01:2009 S2.500 07,'0'/200; 1010112009 Actual Cas!) 035 Fore C ra...'n 'hclona Police 0710112008 S2.500 07/0112008 1010112009 $19.SvJ 1 2001 2F.A=?71W41XI218e~ Police Car 10/0112009 S2.500 07,'01/2008 10/0112009 Actual Cash 036 Ford era....n V'ctoria Police 07,\0112008 S2.500 0710112008 1010112009 S19.S00 1 2001 2F.A=?71'NalX 121SM Police Car 10/0112009 S2.500 07/01/2008 1 % 112009 Actual Cash 037 ;:ord Crown V;clori.a Pollce 07101:200S $2.500 07/0112008 1010112009 H...8():) 1 2001 2FAFP71V/X1X121S69 Police Car 10.101/20011 S2.500 07/0 i/2C08 1 0,'0 112009 Actual Cash 038 Ford Cra....n Vctona Polloe 07/)1/2008 52.50.0 07101/2008 1010112009 $19.800 1 2001 2FA;:?71'....61X121870 Police Car 10101/20011 $2.500 0710 ;;2008 1010112009 Actual CaSIl 039 Ford Crown \hctona Police 07101/2008 $2.500 07/0112008 10.10112009 $19,SI)) 1 200.1 2FA=P71Wa1X121871 Police Car t 010 1/200Q S2.500 07 iO 112008 10.'0112000 Actual Cash 040 ;:ord C rov.'n VictOrl,a Police 07/0112008 $2,500 0710112008 1010112009 $19.800 1 2001 2FAFP71.VX1X121872 Police Car 10,'00112009 52.500 07,'01l2IX)8 10101/200Q Actual Cash 041 ;:ord Bucke: "ublic 'Norl<s 0710 1 12008 S2,500 07/0112008 1010112009 $2~,.2C() 1 19'~g 1 FDWF::l6L9XED5gea.S Meolum Truck 1010112009 52.500 07101l2C08 10/0112009 Actual Cash 042 Foro Ra"ser "ublic Worl<s 07i011'200S $2,500 07101/2008 10.10 112009 $15.480 1 2000 lFTYR10V5YPAe291::l lighl Truck 101011'2009 S2.500 07/0 il2C08 1 Ct,10 1 12009 .~ctual Cash 15 Brown & Brown of Florida, Inc. SCHEDULE OF OWNED AUTOMOBILES Unit ~ Make Model/Description Department AL Eft Date Comp Oed Comp Eff Comp Term Value Qty Year VIN # Vehicle Type AL Term Dale Coli Ded Coli Eft Coli Term Valuation Type 043 Arrow ex 12 2',NH Public Wor\o;s 07,'=1 11'2008 $1.500 0710112008 1010112009 sseo 1 2001 14e,UB 1217YM040808 T r a,tler - NO CH. ,R<1!E'3112009 52.500 07101/2000 10")11200& Actual Casn 044 Arrow e,x 12 2~NH Public 'Nor\o;s 07"0112008 52.500 0710112008 1010Il2ooQ SS8D 1 2001 14eUB121 11MG41457 Trailer. NO CH. H<1!E'O 112009 S2,5OO 07101/2D)8 10,')11200& Actual C.lsn 045 FOrd F2EQ Public 'Nor\o;s 07/01/2008 52.500 07/0112008 1010112009 $17.80.) 1 2001 1r-,NK21L21EBe7gn Light Truck 10,'3112009 52.500 0710 i12D3a 1 O,l) Il20011 Actual Cash 048 'Jtihty U:il.ty Tr'lr PofiO€' 07"3112008 52.500 07,'0112008 1 010 1 1200Q 52.0CO 1 19..... 1 EgAL10131L252724 Trailer - NO CH. .R<1!E'3112009 52.500 0710 ;/2C'3a 10,\31/20011 Actual Cas'! 047 Toyo:a Camry General 07.f.lll2008 52.500 07,'0112008 lQ/0112009 $23.000 1 2003 4T1BF32K8~0565g1 Private Passenger 1 D,l) 112009 S2.500 0710112000 1 OJ() 1120011 Actual Cash 048 Buick R~9al Po5O€' 071'01/2008 $2.500 07,'0112008 1010 112009 $16.0CO 1 2000 2G4Wa55K9Y13.3Q 105 Police Car 10,\) 1/2009 52.500 07,'01/2000 10,\)11200Q Actual C.lsh 049 Ford Explorer 4X4 PotiO€' 07,\:) 1/2008 52.500 07/0112008 10101/2009 $27.0C-) I 200.:. lF~IZU72K2';UA8224:: Li<Jht Truck 10iO 1/200.. 52.500 07:011'2000 1 0,'0 112DD~ ,:"ctual C.lS'l 050 Fore Explorer 4X4 Polioe 07,')1/2008 $2.500 0710112008 10,'0112009 $27.'3Co) I 2004 lFMZU72K44UA8224l3 Light Tl\Jck 10/01/200.. S2.500 07;01i21))0 10i31/200l; Actual C.lsn 051 Fore :xp'orer 4X4 PoliO€' 07,011'2008 $2.500 07/01/2008 1010112009 $27.000 1 2004 lFMZU72K&:UA82167 UghtTruck 1 % I 12009 S2.5OO 0710il2000 10/0IJ20')~ Actual Cash Oe2 Ford E~ploro?r 4X4 Polioe 07~JI/2008 $2.500 07/0112008 1010112009 $27.0Co3 t 2004 1 FMZU72'K~'J,"'e224 7 Light Truck 1 CIIQ 1/2009 52,500 07101i2CO.5 1 % 11200& Actual C.lsh 053 Kuslom S,MAR.T, R.lda' Trader PoliO€' 07,01/2008 $2.500 0710112008 1010112009 S2.0DJ 1 1999 lKIISSO&13'.'r,,118S86 Trailer - NO CH \R<<1lP!J 11200.. $2.500 07,'01j2oo& 1 CII\:) 1:2009 Actual C.lsh 054 AefO 8ite 32NC4 25 Pass.!!"ger Cf"S 07l01/2008 $2.500 0710112008 1010 112009 $83.73Q 1 200.:. lGBE5V12&:=H!S23 ous >20 P..ss. No If: 10;JI1200.. $2.500 0710112000 1 % 1120011 Actu.l1 C.lsh 055 Ford =350 4X~ Public Wor\o;s 07iOl12008 $2.500 07101/2008 10,'Otl2oo9 $26.000 1 200.: lFTS31SX~EB72117 UghtTruck 10,') 1/2009 52.500 071011'2006 lMI/200l; Actual C.lsl'\ 05-8 Ford E~plor'.!r 4X4 Building 07/0112008 $2.500 07/0112008 1010112009 $27.000 1 200.:. 1 FMZU7 2KX4UA.S21 e.8 Light Truck 10/01:2009 52.500 C7101/2OO& 101011200Q ActU.l1 C.ls.n 057 r:ora E~plor...r 4X4 Building 07;0112008 $2.500 07/0112008 10,'0112009 $27.0D) 1 2004 lFMZU72K1~'J,Ae2HIl; Ll'IJht Truck '0;0112001l 52,500 07"01l2ooo 1 0,'01:20011 Actu.il C.lsn 05.S Glaval UOIve-rs.), '...1 t" 1 "+,,).,:: .::.nurt:e t:20S. ~ t CMS 07;0112009 52.500 07/0112008 1010 112009 S80. 1 e4 ~ 1 2004 10AE55F..3HBOOl15 8us >20 Pass. 'lOll f; 10,101:2009 S2,500 07:0112006 10iO 1120,)11 Actual C.lsn 05'9 Aero EM... MOl 32N~ CHS 07~) 112008 $2.500 07/0112008 1010112009 $83.n'J 1 2004 lGaESV1254F51895e a...s >20 Pass. No If: 10.10 1/2009 S2,500 07101,'2Co3o 10.\)\12009 Actual C.ls'! oeo Ford Crown Vlctona Poli~ Ir'iltere>:p!or PoliO€' 07;0112008 $2.500 0710112008 10.10112009 $19.322 1 2005 2FA=P7 lW05X 141 S14 Police Car 10i3 112001l 52.500 07101/200& 10,l) Il2D3l; Actu.l1 Ca sh Oel Ford Cro-....n V,clori.l Pol;eo;; Inlo?r~p:or Pohce 0710 1/2008 S2.500 07/01/2008 1010112000 $19.322 1 2005 2F.r..FP71'l.'25X14IS15 Police Car 10''31/2009 52,500 07101,'2000 , DiD 11200~ ,:"ctu.l1 C.lsh De:? Foro C ro.....n Vlctona Polic;; lnt;;r~p:or PoliO€' 0710 1/2008 $2.500 07/0112008 1010112009 $19.3:72 1 2D05 2FAFP7 1'....95XI4t;g 1 3 Police C:.r , OlD 1/2009 52.500 07/0112000 'Oia 112009 .Actual C.lsn Oe3 Ford E~p!orer PoliO€' 0,.,'13 1/2008 S2.500 07/0112008 1010 112009 $22.077 1 2005 1 FMZU7.2KeWB05723 Police Car 10"01/2009 52.500 07:0112C.3.3 10.'\:) 1/20011 ,:"ctual Cash 16 Brown & Brown of Florida, Inc. L__ SCHEDULE OF OWNED AUTOMOBILES Unit II Makil' Modil'1I0il'scription Oepartmil'nt AL Eft Date Comp Oed Comp Eft Comp Term Value Qty Year VIN # ViI'hicle Type AL Term Date Coli Oed Coli Eft Coli Term Valuation Type 0e4 Ford Explorer PollOe 07;0 1 12008 S2.5OO 0710112008 1010112oo~ $22.077 1 2005 1 FMXU72Ko5UBC5724 Police Car 10,'01.12009 S2,500 07101rn>~0 10,'011'200" Actual Cash Oe5 Ford Ranger 4x': Codi!' Enforc;;ment 07/0112008 52.500 0710112008 1010112oo~ $14,7tO 1 2005 2FTYR11Ee5PA58377 l.Jght Tl\Jck 10,'01/2001; S2.500 0710112000 10..'01/200Q Actual Cas.h 000 Ford F65D Dump Tr.Jck Public 'Nor1<s 07/0112008 $2.500 0710 112008 101011200~ ~5,Q4'5 1 2005 :? FR'....Fe 5:::30511 1 6707" Hi!'avy Tl\JCk 1 Oo'lJ 1..2009 S2.500 Oi10j/20Do 1 C.'O 1l200~ .Il,clual Casn Oe7 Continental ATV Troller Li'eguard 01l01/2008 $2.500 07:0112006 101011200~ $1,200 1 2005 lZJUT18175M030168 Traii-er - NO CH. R~()1/2009 S2.e:OO oi"01/2000 1 0,'0 1I20()~ .Il,ctual Cash OM Continental Jet Ski ,ralters UfegU'-"rd 07~:lli2oo8 $2.500 0710112008 10.1011'2009 Sl.2oo 1 2005 12JBE 1': 1 X~,M0301e~ Trai:.er - NO CH R~Jl/2001; S2.500 07101/2005 10,'011200" Actual Cash oe'~ Conti",en:al Jet Ski ,raJ"rs Liieguard 07/011'2008 S2.5OO 07./0112008 10.1011200~ $1,200 1 2005 lZJSE1465M0301iO Trali-er - NO CH. ,R~I/2009 S2.500 oi/O 1I20'~0 1 0,0 ti200Q .Il,ctual Cas.h 070 Chevrol,,1 Impala Pofioe 07/011'2008 52.500 0710112008 1010112009 $20,852 1 2005 2G 1 WH 52K2Sl248321 Police Car 10,'0 1/2009 S2.500 07/01/2CC15 10,1011'200" Actual Cash 071 Ford E.pedi:ion Polioe 07/0112008 52.500 07,'0112008 10/0112009 $203.225 1 2005 1 FMPU 16~X5LA6e505 Police Car 10101;2000 $2,500 Oi/O 1/2000 1O.'011200Q ,Il,ctual Ca sh 072 =ord F1W Polioe 07"':1 112000 S2.500 07,'0112008 10.10112009 S20,80 1 2005 1 FTVX 14555N.~84116a Police C"r 1 010 1/2000 $2.500 07/0 i/2C.Oo t 0,'01,20011 Actual Ca sh 073 Foro Explorer P06ce o i /0 1/2008 $2.500 07,'0112008 1010112009 $22.077 1 2005 I FMZU72K05UBO~720 Police Car 10.10112009 52.500 07.'0 1/2C<OO 101011200" ,Il,ctual CaSh 074 ~ord Explorer POlioe 07/0112008 $2.500 0710112008 1010112009 $22,077 1 2005 I FI.4ZU72K':WB05721 Police Car 10/01/2001; S2.~00 07/01J2C()0 10,Ulr200Q Actual Cash 075 Ford Exp!.orer Polioe 07iOli2008 S2.500 07.'0112008 10.10112009 S22,Oii 1 2005 I FMZU72K':'~,UBOei22 Police Car 10':111200.. $2.500 07/01/2000 10..0 li200Q Actual Ca s.h .:176 Ford Sport Trac P>ckUp Li:ego.. ard 07iOl/2oo8 $2.500 07,'0112008 10.l011200~ $30.000 1 2005 1 FMZU77K':~.UBd8<l t4 Lighl Truck 10.01/2000 S2.500 o 7/01/2COO 10,'0 1.'200" ,Il,ctual Casn 077 And"rson Trader Public '''''or1<s 07/01/2008 $2.500 071011200B 101011'2009 53,4 e(l 1 2005 4YNBN18245C020637 Tral~r - NO CH, R~01l2000 S2.500 07/01r-0()0 lo..o1120:lQ Actual Cash 078 CECO Trailer 'hi~lasher :>ublic 'Nor1<s 07 iO 1.'2008 $2.500 07/01/2008 1 010 li200~ $12,000 1 2005 NOVIN020D4448S7 Tra,,,"r - NO CH, Rl!leD 112009 $2.500 07/01/2000 10,'01120,:1" Actual Casl1 079 Foro Explorer Attomey Oila 112008 $2.500 01,'0112008 1 010 11200~ $27.aS2 1 2005 1 FMZUe4K 15.UB 58SQ<l Light Truck 10101,2001; S2.500 07.'01/2000 10,13 li200lf Actual Cash 080 Che"rolel Impala Polioe 07/01.12008 $2,500 07/0112008 10,'0112009 $20.080 1 2006 2G 1 'N\J~,B 1 ':092203 7 t Police Car 10101/200.1; S2,500 07/01/2000 10,'011200G Actual Cash 081 Ford Ct"O'Nn Vllcton,a Polioe 07.101/2008 S2.500 0710112008 10.1011'2009 $19.577 1 2006 2 FA FP71'....06X 12': <l7tl Police Car 10,'01/2009 S2.500 07/01/2('08 10..'011200Q Actual Ca!>n 082 Foro Ran.,er 4..: Code EnlorcO?ment 01l01/2008 $2.500 07,'0112006 10101i2oo~ $14,710 1 2006 1 FTY R ~ 1 E:?6PM9220. Light Tl\Jck 10.10112001; 52.500 07.'01l.:?C(J5 10101.'200Q Actual Ca sh 083 Foro Ranger 4x': Code EnlorcO?men: OU:ll/2oo8 S2.500 07/01/200 8 10.1011'2009 $14.il0 1 2006 1 FTYR 1 1 EMPA4922 1 Ughl Truck I 0.10 1 12009 S2.500 07101/2COO 10,'011200Q Actual Ca!>n 084 Conbn~ntal ATV Tra,ler Ll~egu ard 07101/2008 $2,500 0710112008 1010112009 S",2OO 1 200t ,ZJUT 14X4M025518 Traj'~r - NO CH, R~:ll/2000 $2.500 07101/2000 1010112009 .Il,ctual Cash 17 Brown & Brown of Florida, Ine. SCHEDULE OF OWNED AUTOMOBILES Unit t! Mak~ "'od~IID~scription Department AL Elf Date Comp Oed Comp Efl Comp Term Value Qty Year VIN# Vehicle Type AL Term Date Coli Oed Coli Eft Coli Term Valuation Type 085 Continental Jet Ski Trailer Li'l!\luard 07,01i2008 $2.500 07101/2008 1010112009 S , .2()0 1 2005 lZJ5E201t5M020167 Traif.l!r - NO CH. R<lll!:O 112009 S2.500 0710,/2008 1 OlO 112009 Actual C3sh 086 Kustom Smart Trailer Polioe 07/0112008 $2.500 07/0112008 10.10112009 S,.2CQ 1 2005 2SilUS 1 i 1355132322 Tra;!>;!r . NO CH ,R<lll!:OIl2000 52.500 0710'l2oo8 10./01J2009 Actual Cash 087 Holum U:iLty Trir Police 0710112008 S2.500 0710112008 10.10112009 Si.2C'0 1 2006 16HC51212e-GOB30...8 Traii~r - NO CH. ,R~0112DOO $2.500 07101l:?C<l8 101011200~ Actual C3Sn 086 Foro Explorer Buildi~ 07/0t1'2008 $1.500 0710112008 1010112009 $27.082 , 2005 1 FMZU72KX5US05125 Light Truck 1010 1i2009 $2.500 07:01;2C.o8 10ICll1200~ Actual C3sh 08g Ford Ta...'us Code Enforcement 07iO 11'2008 S2.500 07/0112008 1010112009 $17.6COO 1 2000 1 FAFP5222YG 1308e.5 Private Passenger 10:011'2009 S2.500 07:01/20% 10lU lf200Q Actual C3Sfl Ogo Foro =:,504X4 ?ublic 'Norks 07/0112008 $2.500 07/0112008 10.10112009 $1....680 1 2000 1 F7RF 145xeN.ll.e3717 Ughl Truck 1 OlO 11'2009 $2.500 07tQ'I/.2oo,; 1010 11200~ 091 Ford F'504x4 ?ublic Wor1<s 0710112008 NA 07,'0112008 t 0.10 112009 $1....6&0 1 2006 IFTRF1451eNM2718 Lighl Tru,ck 10:01.'2000 S2.500 D7101l2c.08 IOlo3l.'200Q 092 Ford Crown V.clona Poli~ 07/01:2008 $2.500 07/0112008 10.10 tl2oo9 $1....577 1 2006 2FAFP71'N96X12-:.g7!l Police Car 1011:1112009 S2.500 07:0112000 10.0112009 093 Ford Crown "/!elon.a Po~oe DUO li2008 $2.500 0710112008 1010112009 $19.577 I 2006 2FAF::>71'....76X 12-:.g80 Police Car 10/01i2009 $2.500 0710112000 10101121J;0Q 0Q4 Fore Crown V.elon.; Polioe 07/0112008 $2.500 0710112008 10.10112009 $19.577 1 2006 2F.t;F?7 IW96X 12-:.g8 I Police Car 10/0112009 $2.500 07101/:::C08 lC\!'01:200~ Olt5 Ford ere',..'n \/lctori..~ Polioe G7iOI/2008 $2.500 0710112008 1 010 112009 $1....577 1 2006 2FA::::>7IW26X 12-:'\)83 Police Car 1 %li2001l 52.500 07:0112C08 1 (VO 112G09 OlKl Ford Cro'A'n Vletena Polioe 07/0112008 NA 0710112008 10.10112009 $1"'.577 I 2006 2FAF::>7 I W46X 124\)84 Police Car 10/0112009 $2.500 07:01/2008 1010112009 097 Ford Crown \.hctona Poijoe 0710112008 $2.500 07/0112008 IOlOll2009 $1".577 1 2006 2FA~?7 "~.Jo6X 124ga5 Police Car 10.'0Il2001l 52.500 07/0 i;200a 10l'J lf2(}09 0Q.8 Ford Cro-....'n V!ctona Polloe 0,,"0112008 52.500 07/0112008 101011'2009 $19.577 1 2006 2FA,,?71W06XI2-:.n6 Po~ce Car 10/0112009 $2.500 07:0,1:::000 IOJ'O 1:2009 O~ Ford era'!.'n \/lctona Polioe 07/0112008 52.500 0710112008 1010 1.'2009 $19.577 1 2006 2FAF?71'....06XI2-:.\)82 Police Car 1010112009 S2.500 07:01/2008 10lO 1120'OQ 100 Fore Explorer Building 0710112008 S2.500 07/0112008 1010112009 $14.7100 I 2006 1 FM :U72E2GUM3029 Ughl Truck 10/0112009 $2.500 07:0 1 I';:: C-O 8 10"0112009 101 Eldorado Aerolec'1 24 Passenger Bus C~S 07/01:2008 $2.500 07,'0112008 t 010 112009 $79.6~O 1 2006 1 FOXE45?76H5231l75 5us >203 Pass. No IfllOJD1:200Q S2.500 07.01l20% I OlD 11200Q 102 Fore Eldorado Aero:ec'1 24 Passenger Bus c~s 07,'01.'2008 $2.500 07/0112008 10.10112009 $79.6QoO I 2006 , FOXE45.::>C<6H523977 Bus >200 Pass. No IflI0/01:2000 S2.500 07.0,,';::()OB I 0,'0 1120'0~ 103 Utility Police 07/01:2008 $2.500 07.IOII200B 1010112009 52.0CO 1 2006 Trailer - NO CH. R<lll!:O 1:2009 52.500 D7:01l2008 1 OlD 1:2009 104 Harley Oa . idson Road King Polioe 07/0 t:2008 52.500 0710112008 10.10 112009 $30.000 1 2007 11-'01 ::HM1Q7Ve2262D Motorcyoloe 10/0 1i2001l $2.500 07.0112008 101'01120001; 105 Harley Da ' idson Road Kir.g Po~oe 07101/2008 $2.500 07/0112008 10.10112009 $30.0C-0 I 2007 II"D 1 FI"M loiye210Q4 Motorcye!,e 101\01/2009 $ 2.500 07:01,';::008 100'0112001; 18 Brown & Brown of Florida, Inc. SCHEDULE OF OWNED AUTOMOBILES Unit II Make Model/Oeseri plio n Department AL Eft Date Comp Oed Comp Eff Comp Term Value Qty Year VIN # Vehicle Type AL Term Date Coli Oed Coli Eft Coli Term Valuation Type 100 Harley Da 'idson Roac King Pollce 07,\Jli2008 52.500 0710 112008 1010 tl200g $30.000 1 2007 lHD1Fhr.1107ye22200 Mo:orcyck> 10,IJ 112000 5.2,500 0710','2008 10/0112009 107 Harley Da 'idscn Roac King Police 0710 112008 $2.500 0710112008 1010 112oo9 $30.000 1 2007 I f"Dl ;:Hr.1107Ye22743 Motorcycle 10,1:) I i2001l 52.500 07101/2008 10101i2009 109 Harley Da 'idson RO;'ld King Police 07t1Jlt2008 $1.500 07.'0112008 1010tl2009 $30.000 1 2007 IHD1FhMI27ye22078 Motorcycj;e IOlOl12001l 52.500 D710112()J8 10''0112009 1(}~ Harley Da 'idson Road King Police 07i'J 1i2008 $2.500 07/0 112008 1010112009 $30.00>J 1 2007 lHD1Ff-iM197ye229W Motorcycle 10..'0112009 S2.500 0710112008 1010112009 110 Ford Crown Ihclona Polloe 07,'01.'2008 52.500 07,'0112008 1010112oo9 $213.245 1 2007 2FA;:?71~J57X155100 Police Car I OiO112001l 5.2.500 0710 il2008 10101120Jg Aaual Casro ill Ford Cro"A'n V~cton,a Polioe 07101/2008 $2.500 0710112008 1010112009 $20.245 1 2007 2FA;:P71W77Xl~.5101 Police Car 10.10 1i2001l 52.500 0710 ",2008 IOoUIl2001l .l\ctual Casn 112 Ford Cro-lI'n Iflctona Pollce 07/0112008 $2.500 0710112008 1010112009 $213.245 1 2007 2F AF?71 1/..'97 X 1551 02 Police Car 1 O.':! 1i2001l 52.500 07,'0 1l.20.o8 10,1:) 112009 Aaual Casi) 113 Ford Crown V.cloria Police 07iO 112008 52.500 0710112008 1010112009 $20,2~ 5 1 2007 2FA;:P7i'....07XI55103 Police Car 10ol:J112001l 52.500 07101f2D08 10,'0 112009 Actual Casn 114 Ford Cro-....n I/.ctor!.. Polio: 0710 112008 $2.500 07/0112008 1010112009 $26,.245 1 2007 2F A;:?7 ,.....27 X 155 104 Police Car 10'-011200171 S.2.500 0710112008 10,'Q11200G Aaual Cash 115 Ford Cro'Nn \hcton...-:; Police o7iOl12008 52.500 0710112008 1010112009 $213,245 1 2007 2FA'F?7 ",'J07X 1:Je 1C-6 Police Car 10,'0112000 52.500 D7lQ il.200a 10,U11200Q Aaual Cnn lHI ;:ord Crown I/'clona Polio: 07,'0112008 $2.500 07/0112008 1010112009 $26,245 1 2007 2FA;:P71W67X 1~,51D7 Police Car 10,'J 11200171 5.2.500 C710 ii20% 10oU11200g Actual Cash Iii ;:ora Crown Vlctona Polio;;, 071\)112008 $1.500 07/0112008 1010112009 $26,245 1 2007 2FA;:P7 lW47X 1~.51D5 Police Car 10,') 112001l 52.500 07101120.08 1010112001l Actual Cash lt8 Jet Sk, i'r.1i!~r Code Enforcement 07iO 112008 $2.500 0710112008 1010112009 52.000 1 2001 148DA 1413YM040808 Trai;er . NO CH .R~OI12001l 52.500 07101/2008 10oUll2009 Actual Casn 11Il Ford FICO "ublic 'Nor\(s o71':! 112008 $2.500 0710112008 1010112009 $14.725 1 117198 1FTZF172X'v'iNB49773 Light Truck 10/0t120oo S.2.500 07101,'2008 1 0,'0 11200lt Actual Cash 120 Fora Expedi:ion eHS o7/0tl2008 $2.500 0710112008 10.lQt12009 s.:2.0eO 1 2005 1 FMFU I 825eLA65071l Ught Truck 10.'0 t 12009 52..500 07101/2008 1OI011200G Actual Cash 121 CHS o71()t/2008 $2.500 0710112008 1 OlO 112009 $2..300 1 2005 !oJIA Trai::er - NO CH. R~J 112001l 52.500 07.'011'2008 101:J 1.'2o'3g Aaual Casfl p~ CHS 07/01/2008 52.500 0710112008 1010112009 52.000 1 2005 f,JIA Tr.1i."r - NO CH, ,R~O 112001l 52.500 07.'O~"200O 1 Oc:J 112009 Actual Cas'l 123 Fora F~=O Public 'l%rks aUJ \.'2008 $2.500 C710 112008 1010112009 $24.355 1 2003 iFTNF21L93EOe,87Dl Ught Truck 10,'0 '!2001l 52.500 07.'OlJ~OOO 10,,:) 1.'2o'J9 Aaual Cas,i) 124 Ster~ng Elgin (Str~et Sw~per) Public '.'Vor\(s 07.'01/2008 $2.500 0710112008 1010112009 $79.%:1 1 2007 49HAl\DSVI7DX57959 I\t-eo~um Truck 1 OIJ \l2009 5.2.500 07,'01/.2008 1 OlD 1!2009 .l\aual Cash Total I $2.6;)5.74'; 19 Brown & Brown of Florida, Inc. AUTOMOBILE COVERAGE DEFINITIONS FOR A FULL DESCRIPTION OF TERMS, DEFINITIONS AND CONDITIONS PLEASE REFER TO THE POLICY DOCUMENT AUTOMOBILE LIABILITY This coverage is used to protect against claims alleged for bodily injury and property damage arising from the ownership, maintenance, or use of any covered auto. PERSONAL INJURY PROTECTION (NO-FAULT) This coverage i.s used to provide medical expenses as well as work loss, funeral expenses, essential services expenses, and survivor's loss coverage as outlined in your state's statutory No-Fault laws. UNINSURED/UNDERINSURED MOTORIST Uninsured and Underinsured Motorist coverage protects you and your passengers against bodily injury expenses if you are hit by another driver who has no automobile liability insurance or has less than the minimum limits required by your state. MEDICAL PAYMENTS This coverage is used to pay for medical expenses incurred by a covered person injured while driving or riding in your automobile. It provides coverage, regardless of fault, for all reasonable medical costs incurred for up to one year from the date of the accident. It does not cover injury to employees. AUTOMOBILE PHYSICAL DAMAGE This coverage is used to protect the covered vehicle itself. It pays for physical damage loss that results from a covered peril. HIRED AUTOMOBILE COVERAGE This coverage is used to protect against claims arising out of the use of vehicles leased, hired, rented, or borrowed by you, or your employees, while in the course of business. NON-OWNED AUTOMOBILE COVERAGE This coverage is used to provide liability protection for autos used in your business that are not owned, leased, hired, rented, or borrowed. This includes autos of employees and subcontractors that are used on your behalf. 20 Brown & Brown of Florida, Inc. COVERAGE Commercial Package* Property Inland Marine Crime Coverage General Liability Public Officials Liability Employment Practices Liability Law Enforcement Liability Automobile Liability Automobile Physical Damage PREMIUM SUMMARY INSURER AND BEST'S RATING PREMIUM I Preferred Governmental Ins. Trust (Not Rated by A.M. Best) Same as above Same as above Same as above Same as above Same as above Same as above Same as above Same as above Same as above $290,471 $17,993 $2,242 $73,121 $29,450 $15,438 $40,850 $89,265 $24,094 TOTAL $582,924 *This Coverage Agreement shall be 50% minimum earned as of the first day of the "Coverage Period". PAYMENT TERMS: Payment of $134,615 is due 7/01/2008. Final payment of $534,716 is due 10/01/2008 AUDITS: The General Liability and Automobile coverages are not subject to year-end audit or adjustment. Therefore, there would not be any additional premiums for increased liability exposures or additional vehicles purchased during the policy year. 21 Brown & Brown of Florida, 1nc. QUOTATION TERMS & CONDITIONS INCLUDING BUT NOT LIMITED TO 1. All coverages requested may not be offered in this renewal quote. 2. Quote is subject to review and acceptance by PGIT Board of Trustees 3. PGIT is not protected by the Florida Guarantee Association in the event it becomes unable to meet its claims payment obligations. 4. TRIA Coverage excluded for all property and inland marine exposures. 5. Deletion of any coverage presented, Package and/or Workers' Compensation, will result in re-pricing of account. 6. Request to bind must be received in writing via email prior to the effective date of coverage. If request is not received prior to that date there is no coverage and the file is closed. 7. Coverage is not bound until confirmation is received from a licensed representative of Public Risk Underwriters. ADDITIONAL TERMS AND CONDITIONS INCLUDING BUT NOT LIMITED TO: 1. Quote is subject to receipt of the following information: a. Signed first page of the PGIT Application (Florida Fraud Statement) b. Initialed and Signed POLlEPLI application c. Signed UM Form d. Signed Signature Page 2. The estimated credit from cancelling the 07-08 coverage agreement currently in force, agreement number PK FL 1 0132026-7-05, will be $146,035.95. 3. The 15 month coverage term is only available for package coverage a. Limits and deductibles may be quoted and changed via endorsement after October 1 , 2008 for the period 10/1/08 - 10/1/09 b. Schedule changes will be handled via endorsement after October 1, 2008 for the period of 7/1/08 - 10/1/08. c. Exposure changes will be handled via endorsement after October 1, 2008 for the period 7/1/08 -10/1/09, depending on lines of Coverage Bound: a) Revenues b) Payroll c) Employee Count d) Police Officer Count d. Binder request from PGIT members must be received prior to 7/1/08 e. A statement will be issued effective 7/1/08 reflecting both a credit for the fourth quarter rate reduction and an invoice for the fifteen (15) month premium for 7/1/08 - 10/1/09. The annual premium net of the credit will be due on 10/1/08 22 Brown & Brown of Florida, Inc. PREMIUM COMPARISON EXPIRING INSURER AND CURRENT 15 MONTH COVERAGE BEST'S RATING PREMIUM OPTION Policy Term 10/1/07 7/1/08 to to 10/1/08 10/1/09 Commercial Package Preferred Governmental Insurance Trust (Not Rated by A.M. Best) Property Same as above $ 299,474 $ 290,471 Inland Marine Same as above $ 18,908 $ 17,993 Crime Coverage Same as above $ 1,885 $ 2,242 General Liability Same as above $ 32,033 $ 73,121 Public Officials Liability Same as above $ 37,527 $ 29,450 Employment Practices Liability Same as above $ 16,083 $ 15,438 Law Enforcement Liability Same as above $ 39,409 $ 40,850 Automobile Liability Same as above $ 128,035 $ 89,265 Automobile Physical Damage Same as above $ 16,191 $ 24,094 TOTALS $ 589,545 $ 582,924 23 Brown & Brown of Floridal Inc. NOTICE OF CARRIER FINANCIAL STATUS Brown & Brown, Inc., its subsidiaries and affiliates including Brown & Brown of Florida Inc. - Miami Division ("Brown & Brown") do not certify the financial stability of any insurance carrier or coverage provider. We have endeavored to place your coverage with an insurance company with an A.M. Best Company financial rating of "A-" or better.* We were unable to obtain a quotation with a carrier with an "A-" or better rating. While Brown & Brown cannot predict whether the financial condition of a company might improve or deteriorate, we are hereby providing you with notice and disclosure of financial condition so that you can make an informed decision regarding the placement of coverage. Accordingly, we inform you of the following: . Coverage is being placed with Preferred Governmental Insurance Trust ("PGIT"), which is as a Florida local government self-insurance fund established pursuant to section 624.4622, Florida Statutes (Fla. Stat.), as such PGIT is not rated by the A.M. Best Company. · The financial condition of insurance companies and other coverage providers including local government self-insurance funds like PGIT may change rapidly and that such changes are beyond the control of Brown & Brown. · You should review the financial and membership information from PGIT and agree to abide by the conditions of membership established by PGIT. · You should consider the information provided, including the PGIT coverage quote and review it with your accountants, legal counsel and advisors. * A.M. Best Rating Guide: Rating for Stability: A++ to D = Highest to lowest rating Rating for Assets/ Surplus: 15 to 1 - Largest to smallest rating 24 Browl1 & Browl1 of Florida, Il1c. IMPORTANT NOTICE THIS BRIEF DESCRIPTION OF INSURANCE COVERAGE IS BEING PROVIDED AS AN ACCOMMODATION ONLY AND IS NOT INTENDED TO COVER OR DESCRIBE ALL POLICY TERMS. FOR MORE COMPLETE INFORMATION ON THE SCOPE AND LIMITS OF COVERAGE, PLEASE REFER TO THE POLICY DOCUMENT. We appreciate the opportunity to assist with your insurance needs. Information concerning additional compensation paid to other entities for this placement and related services appears below. Please do not hesitate to contact us if any additional information is required. Our office is owned by Brown & Brown, Inc. Brown & Brown entities operate independently and are not required to utilize other companies owned by Brown & Brown, Inc., but routinely do so. For the Coverage Term referenced above your insurance was placed with Preferred Governmental Insurance Trust (PGIT). PGIT is an insurance trust formed by Florida public entities through an Interlocal Agreement for the purpose of providing its members with an array of insurance coverages and services. PGIT has contracted with entities owned by Brown & Brown, Inc. to perform various services. As explained below, those Brown & Brown entities are compensated for their services. PGIT has contracted with Public Risk Underwriters (PRU), a company owned by Brown & Brown, Inc., to administer PGIT's operations. The administrative services provided by PRU to PGIT include: . Underwriting . Coverage review . Marketing . Policy Review . Accounting . Issuance of PGIT Coverage Agreements . PGIT Member Liaison . Risk Assessment and Control Pursuant to its contract with PGIT, PRU receives an administration fee, based on the size and complexity of the account, of up to 12.5% of the premium you pay to PGIT. PRU may also receive commissions from insurance companies with whom it places your coverage, which commissions are derived from the premium you pay to PGIT. Multiple underwriters may be involved in the placement of your coverage. If so, they also may be compensated for their services from the premium you pay to PGIT. PGIT has also contracted with Preferred Governmental Claims Solutions (PGCS), a company owned by Brown & Brown, Inc., for purposes of administering the claims of PGIT members. The services provided by PGCS to PGIT may include: . Claims Liaison with Insurance Company . Claims Liaison with PGIT Members . Claims Adjustment 25 Brown & Brown of Florida, Inc. Pursuant to its contract with PGIT, PGCS receives a claims administration fee for those accounts which PGCS services of up to 5% of the non-property portion of the premiums you pay to PGIT. PGIT also utilizes wholesale insurance brokers, some of which (such as Peachtree Special Risk Brokers and MacDuff Underwriters) are owned by Brown & Brown, Inc., for the placement of PGIT's insurance policies, and. for individual risk placements for some PGIT members (excess and surplus lines, professional liability coverage, etc.) The wholesale insurance broker may provide the following services: . Risk Placement . Coverage review . Claims Liaison with Insurance Company . Policy Review . Current Market Intelligence The wholesale insurance broker's compensation is derived from your premium, and is largely dictated by the insurance company. It typically ranges between 10% and 17% of the premiums you pay to PGIT for your coverage. Some wholesale brokers used by Brown to place your coverage may also act as Managing General Agents for various insurance companies, and may be compensated directly by those insurance companies for their services in placing and maintaining coverage with those particular companies. The wholesale insurance brokerage utilized in the placement of your property insurance was Peachtree Special Risk Brokers, which is a company owned by Brown & Brown, Inc. Furthermore, any professional liability coverage afforded by the package of insurance you purchased was acquired through Brown & Brown Public Entity Services (BBPES), which is also a company affiliated with Brown & Brown, Inc. Wholesale Broker/Manaqinq General Aqent: Peachtree Special Risk Brokers This intermediary is owned in whole or part by Brown & Brown, Inc., the parent company of Brown & Brown of Florida Inc. Brown & Brown entities operate independently and are not required to utilize other companies owned by Brown & Brown, Inc., but routinely do so. In addition to providing access to the insurance company, the Wholesale Insurance Broker/Managing General Agent may provide additional services including, but not limited to: underwriting; loss control; risk placement; coverage review; claims coordination with insurance company; and policy issuance. Compensation paid for those services may be up to 15 % of the premium you pay for coverage, and any compensation paid for those services is derived from your premium payment. 26 Brown & Brown of Florida, Inc. City of Sunny Isles Beach 18070 Collins Avenue Sunny Isles Beach, Florida 33160 (305) 947-0606 City Hall (305) 949-3113 Fax (305) 947-2150 Building Department (305) 947-5107 Fax City Commission Norman S. Edelcup, Mayor Lewis J. Thaler. Vice Mayor Roslyn Brezin, Commissioner Gerry Goodman, Commissioner George "Bud" Scholl, Commissioner A. John SzerIag, City Manager Hans Ottinot, City Attorney Jane A. Hines, City Clerk MEMORANDUM TO: The Honorable City Commission VIA: A. John SzerIag, City Manager FROM: Douglas Haag, Assistant City Manager-Finance DATE: June 19,2008 RE: Renewal of Property, Casualty and Auto Insurance Policies RECOMMENDA nON: Approve the attached resolution to renew the City's Property, Casualty and, Auto insurance with the Preferred Government Insurance Trust (PGIT) for the revised policy period of July I, 2008 - September 30,2009. BACKGROUND: The City currently has Commercial Insurance Package (Property, Casualty, Auto) and Workers Compensation insurance through the Preferred Governmental Insurance Trust (PGIT) which is a premier insurance organization for public entities and is a non-assessable Trust approved by the Florida State Legislature. PGIT recently submitted a proposal to the City for a 15 month package policy which allows the City to take advantage of a recent reduction in property insurance rates. This means we can lock in the lower rates now thru September 30, 2009 regardless of what might happen during this hurricane season. The overall premium for this 15 month policy is $582,924 while the premium for the current 12 month policy is $589,545. The net result is a savings to the City of approximately $154,000. Once the PGIT proposal was submitted by Brown & Brown Insurance, we immediately requested a proposal from the Florida Municipal Insurance Trust (FMIT). The total cost of a comparable 15 month policy from FMIT is $530,978, a difference of about $52,000. The majority of this difference ($44,000) is attributable to the difference in the property insurance premium. However, there are some significant coverage gaps in the FMIT proposal. First, FMIT, thru its reinsurers, is only able to provide $10 million in property coverage for windstorm/hail damage. This is $17 million short of our total property value of $27 million. Second, the windstorm/hail deductible for FMIT is subject to a $100,000 minimum deductible (vs. $20,000 for PGIT) for all property located within Y2 mile of the ocean. One partial loss would quickly erase the $44,000 premium difference. These are not acceptable risks that the City should take on for a premium difference of only $44,000. \:SM \~ Finance Department Commission I\teeting Date: l DtJ ~- 19-o"l Funding a,"a;lable: Both proposals were reviewed by an independent insurance consultant that we utilized last year - Waters Risk Management. Their recommendation, dated June 16, 2008 is attached. One final note regarding the 15 month package does not include the Workers' Compensation coverage which remains as a 12 month contract from 10/1 /07 -9/30/08 and renewing on 10/1 /08 to 9/30/09. Funding will be provided in the FY 2008/09 budget. ADDITIONAL INFORMATION: 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, Auto) and Workers Compensation insurance coverage with PGIT since October 1,2003. Previous 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.