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<br />BFo~n <br />~rown <br /> <br />Brown & Brown of Florida, Inc. <br /> <br />Spessard Holland Bldg. Suite 400 <br />8000 Governors Square Blvd. <br />Miami Lakes, FL33016-1588 <br />305/364-7800 . Toll Free 800/432-8844 <br />FAX 305/822-5687 <br /> <br />:l <br /> <br />III <br /> <br />June 5, 2008 <br /> <br />Douglas M. Haag <br />Assistant City Manager <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br /> <br />Re: Brown & Brown/Preferred Governmental Insurance Trust (PGIT) <br />15 Month Package Policy Option <br /> <br />Dear Doug, <br /> <br />I am very pleased to offer the enclosed proposal for the PGIT 15 Month Package Policy <br />Option. <br /> <br />This option allows the City to take advantage of reduced insurance premiums specifically <br />property insurance rates effective July 1, 2008. The expiration date of 10/1/09 provides <br />firm premiums that can be included in the City's 2008-2009 budgets and will avoid any <br />possible property premium fluctuations that may result from this hurricane season. <br /> <br />If this option is accepted a statement will be issued by PGIT effective 7/1/08 reflecting <br />both a credit for the fourth quarter rate reduction and an invoice for the 15 month <br />premium from 7/1108-10/1/09. The annual premium net of the credit will be due on <br />10/1/08. <br /> <br />I look forward to reviewing this proposal with your and your staff as soon as possible. <br /> <br /> <br />Sin:/~ <br /> <br />R6bert P. Hollander <br />&~utive Vice President <br /> <br />encl. <br /> <br />Exhibit "A" <br />