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SUNU� 1s F City of Sunny Isles Beach <br /> Q�; F <br /> r 1q 18070 Collins Avenue <br /> U -, I`_ Sunny Isles Beach, Florida 33160 <br /> ,' (305)947-0606 City Hall <br /> c'?r 0, 5,.,„s•.,„ "' (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, Human Resources Director <br /> DATE: 3/16/2017 <br /> Approving Additional Insurance Coverage with Brown& <br /> RE: Brown/Preferred Government Insurance Government <br /> Insurance Trust <br /> RECOMMENDATION: <br /> Staff recommends approval of this resolution. <br /> REASONS: <br /> On September 15, 2016 via Resolution No. 2016-2579 the City <br /> Commission approved the renewal of insurance coverage with Brown & <br /> Brown/Preferred Government Insurance Trust (PGIT) in an amount not <br /> to exceed $1,000,000.00. Since that approval, Gateway Park was <br /> completed and opened creating the need for property insurance <br /> coverage in an amount of $120,000.00. Additionally, a Workers' <br /> Compensation audit was performed and it was determined that there is <br /> an additional premium due of$15,000.00. <br /> ADDITIONAL INFORMATION: <br /> Spending authority is being requested in an amount not to exceed <br /> $150,000.00, which includes a contingency amount of $15,000.00 for <br /> any additional unforeseen coverage needed for the remainder of the <br /> 2016-2017 fiscal year. <br /> FUNDING SOURCE: <br /> 98 <br />