File #: 24R-5893    Version: 1 Name: Preferred Property & Liability Insurance
Type: Resolution Status: Passed
File created: 9/19/2024 In control: City Commission Meeting
On agenda: 9/26/2024 Final action:
Title: RESOLUTION . NO 24R-09-233: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LAUDERHILL APPROVING THE RENEWAL FOR PREFERRED GOVERNMENTAL INSURANCE TRUST TO PROVIDE PROTECTED SELF-INSURANCE PRODUCTS THROUGH THE BROKER, PUBLIC RISK INSURANCE AGENCY. FOR THE FISCAL YEAR OCTOBER 1, 2024 THROUGH SEPTEMBER 30, 2025 FOR FIRST AND THIRD-PARTY CLAIMS BASED UPON THE FOLLOWING LOSSES: GENERAL LIABILITY, PROPERTY, AUTO LIABILITY AND PHYSICAL DAMAGE, WORKERS' COMPENSATION, BOILER AND MACHINERY, ERRORS AND OMISSIONS, LAW ENFORCEMENT, INLAND MARINE, CRIME, EMPLOYERS LIABILITY AND SEXUAL MISCONDUCT; PROVIDING FOR A TOTAL PAYMENT IN THE AMOUNT OF $2,284,373 FROM APPROPRIATE BUDGET CODE NUMBERS; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY CITY MANAGER DESORAE GILES-SMITH).
Sponsors: Desorae Giles
Attachments: 1. RES-24R-09-233-PGIT Insurance first and third party claims 2024.pdf, 2. AR 24R-09-233, 3. Lauderhill Premium comparison 24-25

Title

RESOLUTION . NO 24R-09-233: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LAUDERHILL APPROVING THE RENEWAL FOR PREFERRED GOVERNMENTAL INSURANCE TRUST TO PROVIDE PROTECTED SELF-INSURANCE PRODUCTS THROUGH THE BROKER, PUBLIC RISK INSURANCE AGENCY.  FOR THE FISCAL YEAR OCTOBER 1, 2024 THROUGH SEPTEMBER 30, 2025 FOR FIRST AND THIRD-PARTY CLAIMS BASED UPON THE FOLLOWING LOSSES: GENERAL LIABILITY, PROPERTY, AUTO LIABILITY AND PHYSICAL DAMAGE, WORKERS' COMPENSATION, BOILER AND MACHINERY, ERRORS AND OMISSIONS, LAW ENFORCEMENT, INLAND MARINE, CRIME, EMPLOYERS LIABILITY AND SEXUAL MISCONDUCT; PROVIDING FOR A TOTAL PAYMENT IN THE AMOUNT OF $2,284,373 FROM APPROPRIATE BUDGET CODE NUMBERS; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY CITY MANAGER DESORAE GILES-SMITH).

 

 

Body

Pass a Resolution to approve the renewal of Preferred Governmental Insurance Trust to provide Protected Self-Insurance products though broker, Public Risk Insurance Agency, for the fiscal year October 1, 2024 through September 30, 2025.

 

 

Request Action:

Request the approval of Preferred Governmental Insurance Trust to provide Protected Self-Insurance products though broker, Public Risk Insurance Agency, for the fiscal year October 1, 2024 through September 30, 2025.

 

 

Need Summary Explanation/ Background:

To protect the City in the pursuit of first and third-party claims based on the following losses: General Liability, Property, Auto Liability and Physical Damage, Workers' Compensation, Boiler & Machinery, Errors and Omissions, Law Enforcement, Inland Marine, Crime, Employers Liability and Sexual Misconduct.

 

 

Cost Summary/ Fiscal Impact:

The fiscal year 2024-2025 premiums are $2,284,373, representing a $290,976 (14.60%) increase.  These premiums are budgeted in our 162 accounts.

 

 

Attachments:

Premium Comparison

 

 

Budget Code Number(s): _001.162.4521, 001.162.4522 and 001.162.4523__

 

Procurement Information: [check all that apply]

[    ] RFP/Bid                                                               [    ] Emergency Purchase                                           [    ] SBE

[    ] Proposal/Quote                                          [   ] State Grant Funds                                          [    ] Local Preference

[    ] Piggyback Contract                     [   ] Federal Grant Funds                                         

[    ] Sole Source                                          [   ] Matching Required