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RESOLUTION NO. 2013- 20'7 1 <br /> A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br /> SUNNY ISLES BEACH, FLORIDA, RATIFYING ADDITIONAL <br /> INSURANCE COVERAGES WITH BROWN & BROWN / <br /> PREFERRED GOVERNMENT INSURANCE TRUST (PGIT) FOR <br /> THE PERIOD OF OCTOBER 1, 2012 THROUGH SEPTEMBER 30, <br /> 2013, IN AN AMOUNT NOT TO EXCEED SEVENTY-FIVE <br /> THOUSAND SEVEN HUNDRED DOLLARS ($75,700.00); <br /> AUTHORIZING THE CITY MANAGER TO DO ALL THINGS <br /> NECESSARY TO EFFECTUATE THIS RESOLUTION; <br /> PROVIDING FOR AN EFFECTIVE DATE. <br /> WHEREAS, on September 20, 2012 via Resolution No. 2012-1958, the City <br /> Commission approved the renewal of the Commercial Package Policy (property, liability, <br /> automobile), Workers Compensation, and miscellaneous insurances with Brown & <br /> Brown/Preferred Government Insurance Trust (PGIT), in an amount not to exceed Seven <br /> Hundred Twenty-One Thousand Seven Hundred Eighty-Three Dollars ($721,783.00) for a one- <br /> year period of October 1, 2012 through September 30, 2013; and <br /> WHEREAS, the City of Sunny Isles Beach was in need of additional insurance coverage <br /> over the past seven months related to capital projects, inadequate coverage, and increases due to <br /> an insurance company audit for the following: <br /> 2012 Workers Compensation Audit $17,000.00 <br /> Pier Property Insurance 22,000.00 <br /> Glass Policy for Government Center 7,100.00 <br /> Pier Builder Risk 11,000.00 <br /> Miscellaneous Property Deductibles 7,900.00 <br /> Inland Marine Coverage 9,000.00 <br /> Crime/Fidelity 1.700.00 <br /> Total: $75,700.00 <br /> WHEREAS, the City recommends approval to include the necessary insurance coverage <br /> through Brown & Brown/Preferred Governmental Insurance Trust (PGIT) related to capital <br /> projects, inadequate coverage, and increases due to an insurance company audit, in an amount <br /> not to exceed Seventy-Five Thousand Seven Hundred Dollars ($75,700.00), for a total amount <br /> not to exceed of Seven Hundred Ninety-Seven Thousand Four Hundred Eighty-Three Dollars <br /> ($797,483.00) to protect the City from liabilities, catastrophes, and other issues that may arise <br /> over the one-year period of October 1, 2012 through September 30, 2013. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br /> CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> Section 1. Ratify Approval of Additional Insurance. The City Commission hereby ratifies <br /> the additional insurance coverage required through Brown & Brown/Preferred Government <br /> Insurance Trust (PGIT) related to capital projects, inadequate coverage, and increases due to an <br /> R2013-Pgit Insurance Ratify Addl Insurance Page I of 2 <br />