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NNY Fs <br /> �s°.,, ,:_ 4Fs. City of Sunny Isles Beach <br /> Co <br /> 18070 Collins Avenue <br /> Sunny Isles Beach, Florida 33160 <br /> 9, Pi. : ,O9,%.3 4 (305)947-0606 City Hall <br /> or'suK " (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: 9/21/2017 <br /> Renewal of Property, Casualty,Auto, Workers Comp <br /> RE: Insurance with Brown & Brown/Preferred Govemment <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 <br /> October 1, 2017 through September 30, 2018 in an amount not to <br /> exceed $1,350,744.75.00. <br /> REASONS: <br /> The renewal premium for the Commercial Package Policy (Property, <br /> Liability, and Auto) and Workers Compensation is $1,150,744.75 which <br /> is $125,863.75 or 12% more than last year ($1,024881.00). The <br /> contributing factor for the premium increase is due to claims, payroll <br /> and additional property. <br /> Additionally, staff is allocating $200,000.00 for deductibles and for <br /> additional premiums expected upon the completion of capital projects <br /> such as the Pedestrian Emergency Bridge, which will be added to the <br /> property insurance during the upcoming fiscal year. <br /> Staff worked closely with Brown & Brown (Robert Hollander) to review <br /> 66 <br />