Title
RESOLUTION NO. 19R-08-160: 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, 2019 THROUGH SEPTEMBER 30, 2020 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 $931,160.00 FROM APPROPRIATE BUDGET CODE NUMBERS; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY CITY MANAGER CHARLES FARANDA).
Body
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, 2019 THROUGH SEPTEMBER 30, 2020 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 $931,160.00 FROM APPROPRIATE BUDGET CODE NUMBERS; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY CITY MANAGER CHARLES FARANDA).
Request Action:
Request the approval of Preferred Governmental Insurance Trust to provide Protected Self-Insurance products through broker, Publik Risk Insurance Agency, for the fiscal year October 1, 2019 through September 30, 2020.
Need:
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 and Machinery, Errors and Omissions, Law Enforcement, Inland Marine, Crime, Employers Liability and Sexual Misconduct.
Summary Explanation/ Background:
This coverage has always been provided, through an insurance provider, above the City's Self-Insured Retention (SIR) to enable the City to conduct business with a certain level of insurance protection.
Attachments:
PRIA Package binder
Premium Comparison
Cost Summary/ Fiscal Impact:
The fiscal year 2019-2020 premiums are $931,160.00. These premiums are budgeted in our 162 accounts. This contract was initiated on 10/1/18. No increase for the new coverage period.
Estimated Time for Presentation:
Less than 10 Minutes
Master Plan:
Goal 1: Clean, Green Sustainable Environment
[ ] Increase mass transit ridership [ ] Reduce City energy consumption
[ ] Reduce water consumption
Goal 2: Safe and Secure City of Lauderhill
[ ] Crime in lower 50% in Broward [ ] Residents feel safe in neighborhood
[ ] Reduce emergency fatalities
Goal 3: Open Spaces and Active Lifestyle for all ages
[ ] Increase participation in youth sports [ ] Add new park land and amenities
[ ] Increase attendance at cultural programs and classes
Goal 4: Growing Local Economy, Employment and Quality of Commercial Areas
[ ] Increase commercial tax base [ ] Increase employment in Lauderhill businesses
[ ] Decrease noxious and blighted uses in commercial areas
Goal 5: Quality Housing at all Price Ranges and Attractive Communities
[ ] Neighborhood signs and active HOAs [ ] Housing & streets improved, litter reduced
[ ] Increase proportion of single family homes and owner occupied housing
Goal 6: Efficient and Effective City Government, Customer Focused & Values Diversity
[x ] Improves City efficiency [ ] Increase use of Information Technology
[ ] Increases residents perception of Lauderhill as an excellent place to live