Reso 2022-3387 - Laserfiche WebLink

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In sum, staff recommends renewal of the Brown & Brown/Preferred Governmental Insurance Trus (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 PGIT which is a premier insurance organization for public entitie! and is a non -assessable Trust approved by the Florida State Legislature. The PGIT board of trustees ha elected to purchase an extremely conservative excess of loss insurance structure which provides PGI1 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 entitie! 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 foi Property and Coregis Insurance for General Liability coverage and with the Florida League of Cities fo 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 Insurance Renewals Spreadsheet - FY 22-23.pdf CSIB 22-23 Summary of Proposed Premiums - Exposure Differences.pdf Item Number: 10.A 140