Reso 2019-2974 - Laserfiche WebLink

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effective, option. 0 In sum, staff recommends renewal of the Brown& Brown/Preferred Governmental Insurance Trust(PGIT)proposal for the Package Policy and - O 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 PGIT 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 PG IT O since October 1, 2003. Prior to this date, from July 1, 2001 through • October'l, 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 Yfunding,folic and is available in each department's 424000 (Workers Comp Insurance)account for the Workers Compensation Policy. • - . ATTACHMENTS: • Description Resolution Insurance Summary Table 2019 • • • •• Item-Number: 16.E. • 164