Laserfiche WebLink
SUNyY '= F City of Sunny Isles Beach <br /> ti f •\ 18070 Collins Avenue <br /> q Sunny Isles Beach, Florida 33160 <br /> %. <br /> • 9; n- p Cc' (305)947-0606 City Hall <br /> FL <br /> 0, ssµ (305)949-3113 Fax <br /> MEMORANDUM <br /> TO: The Honorable Mayor and City Commission <br /> VIA: Christopher J. Russo, City Manager <br /> FROM: Yael Y. Londono, HR & Risk Management Director <br /> DATE: 9/15/2016 <br /> Renewal of Property, Casualty,Auto, Workers Comp <br /> RE: Insurance with Brown & Brown/Preferred Government <br /> Insurance Trust (PGIT) <br /> RECOMMENDATION: <br /> It is recommended that the City Commission 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 October <br /> 1, 2016 through September 30, 2017 in an amount not to exceed <br /> $1,000,000.00. <br /> REASONS: <br /> The renewal premium for the Commercial Package Policy (Property, <br /> Liability, and Auto) and Workers Compensation is $915,043.00 which is <br /> $36,949.10 or 4.20% more than last year ($878,123.90). The <br /> contributing factor for the premium increase is due to claims, payroll <br /> and additional property. We are currently on the second year of a two <br /> year rate guarantee on the Commercial Package Policy. <br /> Additionally, staff is allocating $84,957.00 for deductibles and for <br /> additional premiums expected upon the completion of capital projects <br /> such as Gateway Park, which will be added to the property insurance <br /> during the upcoming fiscal year. <br /> 136 <br />