HomeMy WebLinkAboutR-2017-115 Authorizes Renewal of Comprehensive Property/Liability Insurance Coverage/Workers Compensation Insurance through Brown & Brown & Other Insurance Companies, Annual Premium Amount $907,752 RESOLUTION NO.2017-115
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, AUTHORIZING THE RENEWAL OF THE
COMPREHENSIVE PROPERTY/LIABILITY INSURANCE COVERAGE
PACKAGE AND WORKERS' COMPENSATION INSURANCE FOR THE
CITY OF DANIA BEACH, FLORIDA, THROUGH BROWN & BROWN
D/B/A PUBLIC RISK INSURANCE AGENCY ("PRIA"), WITHOUT
COMPETITIVE BIDDING AND WITHOUT ADVERTISEMENT FOR BIDS,
SUCH PACKAGE TO INCLUDE COVERAGE FOR PROPERTY AND
CASUALTY, CRIME, EMPLOYEE DISHONESTY, GENERAL LIABILITY,
AUTOMOTIVE LIABILITY AND PHYSICAL DAMAGE, PUBLIC
OFFICIALS' LIABILITY, EMPLOYMENT PRACTICES' LIABILITY AND
WORKERS' COMPENSATION AND IN ADDITION THROUGH BROWN &
BROWN, COVERAGE FOR POLLUTION LIABILITY WITH INDIAN
HARBOR INSURANCE COMPANY, DOCK PROPERTY COVERAGE WITH
GREAT LAKES REINSURANCE, FP&L LIABILITY INSURANCE WITH
EVANSTON INSURANCE COMPANY, STORAGE TANK INSURANCE
WITH COMMERCE AND INDUSTRY INSURANCE COMPANY AND NFIP
FLOOD PROGRAM POLICIES WITH WRIGHT NATIONAL FLOOD
INSURANCE COMPANIES FOR A COMBINED ANNUAL PREMIUM
AMOUNT OF NINE HUNDRED SEVEN THOUSAND SEVEN HUNDRED
FIFTY TWO DOLLARS ($907,752.00) FOR COVERAGE BEGINNING
OCTOBER 1, 2017 THROUGH SEPTEMBER 30, 2018; PROVIDING FOR
CONFLICTS; FURTHER, PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Dania Beach (the "City") currently obtains its Comprehensive
Insurance Package and Workers' Compensation Insurance coverage through Public Risk
Insurance Agency("PRIA"); and
WHEREAS, PRIA is offering to renew the City's existing comprehensive insurance
package including Workers' Compensation beginning October 1, 2017 through September 30,
2018, at a cost of Nine Hundred Seven Thousand Seven Hundred Fifty Two Dollars
($907,752.00) with a second year option to renew at the same rates with premiums to be adjusted
annually for changes in exposure as agreed upon between City Management and PRIA from
October 1, 2018 through September 30, 2019; and
WHEREAS, it is anticipated that minor changes may occur throughout the fiscal year
due to additions and deletions of equipment and as a result of the annual Worker's Compensation
audit; and
WHEREAS, Brown & Brown, d/b/a Public Risk Insurance Agency, continues to be
responsive and provide guidance for risk and liability concerns on major contractual agreements,
special events, construction projects, appropriate vendor insurance requirements, and bid
specifications; and
WHEREAS, Brown & Brown is able to offer renewal of the current Pollution Liability
coverage with Indian Harbor Insurance Company at the current rate for Fiscal Year 2017-2018;
and
WHEREAS, Brown & Brown is able to offer renewal of the current Dock Property
Coverage with Great Lakes Reinsurance Company at a 5.3% reduction in the rate for Fiscal Year
2017-2018; and
WHEREAS,Brown & Brown is able to offer renewal of the current Storage Tank policy
with Commerce and Industry Insurance Company at a 1.34% increase in the rate for Fiscal Year
2017-2018; and
WHEREAS, Brown & Brown is able to offer renewal of current Florida Power & Light
Company (FPL) General Liability Coverage with Evanston Insurance Company at 5.52%
reduction in rate for Fiscal Year 2017-2018; and
WHEREAS, Brown & Brown is able to offer renewal of flood coverage as required
under the National Flood Insurance Program (NFIP) governed by the Federal Emergency
Management Agency (FEMA) as rezoned by Broward County with Wright National Flood
Insurance Company with an estimated increase of fifteen percent(15%); and
WHEREAS, the City Commission waives competitive bidding and further authorizes
renewals with PRIA, Indian Harbor Insurance Company, Great Lakes Reinsurance Company,
Commerce and Industry Insurance Company, Evanston Insurance Company, and Wright
National Flood Insurance Company for Fiscal Year 2017-2018; and
WHEREAS, the City Commission further authorizes the City Manager to make
adjustments to the premiums as necessary due to required changes in coverage resulting from
additions or deletions of equipment, results of the annual Workers' Compensation audit, or other
insurance requirements necessary to protect the City and its assets;
NOW,THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DANIA BEACH,FLORIDA:
Section 1. That the City Commission approves the renewal of the City's
Comprehensive Insurance Package through Public Risk Insurance Agency, such package to
include coverage for Workers' Compensation, Property and Casualty, Crime, Employee
Dishonesty, General Liability, Automotive Liability and Physical Damage, Public Officials'
2 RESOLUTION#2017-115
Liability, Employment Practices' Liability and renewal of Pollution Liability with Indian Harbor
Insurance Company, renewal of Dock Property Coverage with Great Lakes Reinsurance
Company, renewal of Storage Tank Coverage with Commerce & Industry Insurance Company,
renewal of FP&L General Liability with Evanston Insurance Company, and renewal of NFIP
Flood coverage with Wright National Flood Insurance for the period October 1, 2017 through
September 30, 2018 with a second year renewal option in a total combined premium amount of
Nine Hundred Seven Thousand Seven Hundred and Fifty Two Dollars ($907,752.00) allowing
for premium adjustments to be made by the City Manager as necessary to properly protect the
City and its assets.
Section 2. That the cost of the Comprehensive Insurance Package and Workers'
Compensation coverage, which anticipates an annual adjustment needed for coverage due to
changes to City real property inventory, is planned, appropriated and has been made available
through appropriate allocations to various City Funds in the proposed Fiscal Year 2017/2018
budget.
Section 3. That all resolutions or parts of resolutions in conflict with this Resolution
are repealed to the extent of such conflict.
Section 4. That this Resolution shall be in force and take effect immediately upon its
passage and adoption.
PASSED AND ADOPTED on September 26, 2017.
ATTEST: t�p`S FIRST cr
LOUISE STILSON, CMC TAMRA JAM
(!�
CITY CLERK MAYOR
dig, 1�
APPROVED AS FO AND CORRECTNESS:
r
THOMA J. +SB1kO
CITY ATTO EY
3 RESOLUTION#2017-115