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- ,JN"Y,s,F City of Sunny isles Beach <br /> 0 oma. :fo <br /> -'-.. `t.p 18070 Collins Avenue <br /> •:., C = Sunny Isles Beach; Florida 33160 <br /> • <br /> 4� s,,f roe,°. Sir (305)947-0606 City Hall <br /> ''T'of svH°`'� (305)949-3113 Fax <br /> MEMORANDUM • <br /> • <br /> - TO: • The Honorable Mayor and City Commission • <br /> VIA: Christopher J. Russo, City 9 Mana er •. • • <br /> • • FROM: Yael Y. Londono, HR & Risk Management Director <br /> • <br /> DATE: 9/19/2019 . <br /> Renewal of Property, Casualty,Auto,Workers.Comp <br /> . - - - . RE:. - Insurance with Brown& Brown/Preferred Government <br /> Insurance Trust(PG:!T) - <br /> QRECOMMENDATION: • , <br /> • - • It is recommended that the City.Commissio • <br /> n approve the attached . <br /> resolution to renew the City's Property, Liability, Auto; and. Workers. • <br /> Compensation insurance with the ;Preferred Government Insurance • <br /> Trust (PGIT) and/or Brown & Brown Insurance for the:,period of. • <br /> . <br /> October 1, 2019 through September 30, 2020 in an amount not to <br /> exceed $1,500,000.00. <br /> REASONS: <br /> The renewal.premium.for.the Commercial Package Policy(Property,.Liability,... • <br /> and Auto)and Workers Compensation is $1,399,077.50 which is.$69,839 or 5%. <br /> . _ more than last year($1,329,238.50). The contributing factor for the premium <br /> .. increase is due to claims, payroll and additional property. <br /> . Additionally, staff is allocating$100,922.50 for•deductibles and for additional <br /> premiums expected upon the completion of capital projects,which will be added - <br /> • to the property insurance during.the,upcoming fiscal year. <br /> Staff worked closely with Brown& Brown(Robert Hollander)to review <br /> possible courses of action to reduce premiums to include increasing our <br /> deductibles in certain coverage and theTeasibility of self-insurance in areas that <br /> Owe as a City have had good claims experience. Based on the available options, <br /> renewal with PGIT with the coverage and terms indicated is our best, most cost <br /> 163 • <br />