Title
RESOLUTION NO. 25R-09-197: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LAUDERHILL, FLORIDA, APPROVING THE PROPOSAL FROM PREFERRED GOVERNMENTAL INSURANCE TRUST TO PROVIDE PROTECTED SELF-INSURANCE PRODUCTS THROUGH THE BROKER, PUBLIC RISK INSURANCE AGENCY, FOR THE FISCAL YEAR OCTOBER 1, 2025 THROUGH SEPTEMBER 30, 2026 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 $2,300,410.00 FROM THE APPROPRIATE BUDGET CODE NUMBERS; AND PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY CITY MANAGER, KENNIE HOBBS, JR.).
Body
Request Action:
Request 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, 2025 through September 30, 2026.
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 and Machinery, Errors and Omissions, Law Enforcement, Inland Marine, Crime, Employers Liability, and Sexual Misconduct.
Cost Summary/ Fiscal Impact:
The premiums are $2,300,410.
Attachments:
#1 - Resolution
#2 - Coverage and Premium Comparison
Budget Code Number(s): 001-01-162-50-4521, 001-01-162-50-4522, and 001-01-162-50-4523.
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