R25-257 RESOLUTION NO. R25-257
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOYNTON
2 BEACH, FLORIDA, APPROVING THE RENEWAL OF THE CITY'S
3 INSURANCE POLICIES FOR PROPERTY, INLAND MARINE, CRIME,
4 GENERAL LIABILITY, LAW ENFORCEMENT LIABILITY, AUTOMOBILE,
5 PUBLIC OFFICIALS, CYBER LIABILITY, AND WORKERS'
6 COMPENSATION COVERAGE WITH PREFERRED GOVERNMENTAL
7 INSURANCE TRUST (PGIT) THROUGH INSURANCE BROKER BROWN
8 &BROWN FOR THE POLICY TERM BEGINNING OCTOBER 1, 2025,AND
9 ENDING SEPTEMBER 30, 2026; AND FOR ALL OTHER PURPOSES.
10
11
12 WHEREAS, Brown & Brown Inc. is the City's insurance broker; and
13 WHEREAS, the City desires to renew insurance coverage with Preferred Governmental
14 Insurance Trust. The renewal cost for fiscal year 2025/2026 is approximately $2,262,101.00,
15 compared to $2,490,797.00 for fiscal year 2024/2025, reflecting a decrease of approximately
16 9.2%. The number of vehicles on the auto schedule decreased slightly by 0.3%. While the auto
17 premium increased by about 5.8%, the property premium decreased by approximately 12.8%,
18 contributing significantly to the overall reduction in cost; and
19 WHEREAS, the City Commission, upon the recommendation of staff, has deemed it in the
20 best interests of the City's citizens and residents to approve the renewal of the City's insurance
21 policies for property, inland marine, crime, general liability, law enforcement liability, automobile,
22 public officials, cyber liability, and workers' compensation coverage with Preferred Governmental
23 Insurance Trust (PGIT) through Insurance Broker Brown & Brown for the policy term beginning
24 October 1, 2025, and ending September 30, 2026.
25
26 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BOYNTON
27 BEACH, FLORIDA, THAT:
28 SECTION 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
29 being true and correct and are hereby made a specific part of this Resolution upon adoption.
30 SECTION 2. The City Commission of the City of Boynton Beach, Florida, does hereby
31 approve the renewal of the City's insurance policies for property, inland marine, crime, general
32 liability, law enforcement liability, automobile, public officials, cyber liability, and workers'
33 compensation coverage with Preferred Governmental Insurance Trust (PGIT) through Insurance
RESOLUTION NO. R25-257
34 Broker Brown & Brown for the policy term beginning October 1, 2025, and ending September 30,
35 2026, as further detailed in attached Exhibit A.
36 SECTION 3. The City Commission of the City of Boynton Beach, Florida, hereby
37 authorizes the Mayor to execute any necessary documents needed to accomplish the purpose of
38 this Resolution.
39 SECTION 4. This Resolution shall take effect in accordance with the law.
40
41
42
43
44 [SIGNATURES ON THE FOLLOWING PAGE]
45
RESOLUTION NO. R25-257
46 PASSED AND ADOPTED this ) U day of_,% YY&c 2025.
47 CITY OF BOYNTON BEACH, FLORIDA
48 YES/ NO
49 Mayor- Rebecca Shelton ,/
50
51 Vice Mayor-Woodrow L. Hay
52
53 Commissioner-Angela Cruz
54 tZ
55 Commissioner-Thomas Turkin
56
57 Commissioner-Aimee Kelley
58
59 4TE -0
60 ATE T:
1
6 iAalt Cn ..
63 Mayle� esus, MP/ MMC Rebecca Shelton
64 City C er Mayor
65
66 F g0YNT0� APPROVED AS TO FORM:
67 (Corporate Seal) e:*oaPCRaTF.�'F�4
68 %� •
�• SEAL( INDr , �6
'
70 S 1920 ' Shawna G. Lamb
71 'tt •••.....•••• : City Attorney
'%,LORIDP
Covered Party: (City of Boynton Beach
Effective Date: 110/1/2025 121 & Brown
Version Date: 19/5/2025
Coverage& Premium Comparison
2024/2025 2025/2026 Changes In Exposures
LINE OF COVERAGE LIMIT DEDUCTIBLE/SIR ANNUAL LIMIT DEDUCTIBLE/SIR ANNUAL 2024/2025 2025/2026
PREMlym PREMIUM
Property: I I
Preferred Governmental Insurance Trust
Blanket Buildings&Contents $ 260.289,652 $ 25,000 $ 1.676,312 $ 269.306.300 $ 25,000 $ 1,438.111 I Property
Equipment Breakdown $ 100.000,000 $ 25,000 $ 100.000,000 $ 25,000 Exposure $ 9,016,648
Excess Flood $ 5,000,000 $25,000/Except Zones A,V $ 5,000,000 $25.000/Except Zones A,V Difference 3.46%
Earth Movement $ 5,000,000 $ 25,000 $ 5,000,000 $ 25,000
Terrorism $ 5,000,000 $ 25,000 $ 5,000,000 $ 25,000 Premium
$ (236,201i
Named Windstorm $ 260,289,652 $ 25,000 $ 259,362,352 $ 25,000 Difference -14.21%
Accounts Recievable $ 500,000 $ 25,000 $ 500,000 $ 25,000
Additional Expense $ 1,000,000 $ 25,000 $ 1,000,000 $ 25,000
Business Income $ 4,000,000 $ 25,000 $ 4,000,000 $ 25,000
Appraisal Option Effective 10/1/2025 Ippraisal w/Appraised Contents Option:TIV$277,405,900 $ 1,478,259
Inland Marine:
Inland Marine
Unscheduled Blanket Inland Manna $ 1,000,000 $ 1,000 $ 9.808 $ 1,000,000 S 1,000 $ 12.098 $6101.915 $8,759,582
Communications Equipment Included in Blanket $ 1,000 Included in Blanket S 1,000
Mobile Equipment $ 5,480,017 $ 1,000 $ 5,391,553 $ 1,000 I Exposure $ 1,857,667
Electronic Data Processing Included in Blanket $ 1,000 Included in Blanket $ 1.000 i Difference 26.92%
Emergency Services Portable Equip Included in Blanket $ 1,000 Included in Blanket S 1,000
Fine Arts Included in Blanket $ 1,000 $ 2,014.131 $ 1,000 Premium $ 2,290
Other Inland Marine $ 202.339 $ 1,000 $ 202,339 $ 1.000 Difference 23.35%
Rented Borrowed Leased Equipment Not Included N/A Not Included N/A
Valuable Papers Included in Blanket $ 1,000 Included in Blanket $ 1,000
Watercraft $ 219.559 $ 1,000 $ 151.559 $ 1,000
Sub-Total $ 1,686,120 Sub-Total $ 1,450,209
Cf MIM:
Preferred Governmental Insurance Trust
Employee Dishonesty $ 50,000 $ 1,000 $ 964 $ 50,000 $ 1,000 I$ 933
Theft,Disappearance&Destruction In/Out $ 50,000 $ 1,000 $ 50,000 $ 1,000 I
Funds Transfer $ 50,000 $ 1,000 $ 50.000 $ 1,000 I
Computer Fraud $ 50.000 S 1,000 S 50.000 $ 1,000 I _
Forgery/Alterations $ 50,000 $ 1,000 1$ 50,000 $ 1,000I- T Premium
Sub-Total $ 964 Sub-Total I$ 933 Difference i$ -3.22%
General I Payroll
Preferred Governmental Insurance Trust I $64,225,000 - $63,709,281
General Liability $ 5.000,000 $200,000 SIR $ 43,420 $ 5.000,000 I $200,000 SIR $ 41.718Exposure $ (515,719)
Employee Benefits S 5.000,000 $200,000 SIR $ 5.000.000 I $200,000 SIR I Difference -0.80%
Deadly Weapon Protection $ 1,000,000 Included $ 1,000,000 I$ - Included $ (1,702)
Sub-Total $ 43,420 I Sub-Total $ 41,718I Difference -3.92%
Law Enforcement Liability
I *of Officers
Law Enforcement Liability $ 5.000,000 $200,000 SIR $ 182,263 $ 5,000,000 $200,000 SIR $ 209.171 I 141 I 166
Exposure I $ 25
Difference I 17.73%
Premium I $ 26,908
Sub-Total 5 182,263 Sub-Total $ 209,171 Difference I 14.76%
Automotrie:
Vehicles
Preferred Governmental Insurance Trust I
I 657 I 655
Auto Liability $ 2,000,000 I $100,000 SIR $ 125,580 $ 2,000,000 I $100,000 SIR $ 130,320 I TN
Uninsured Motorist Rejected I N/A Rejected I N/A I $47,375,673 I $49,318,625
Comprehensive/Collision Symbol 2.8 I $ 5,000 $ 39.843 Symbol 2.8 I $ 5,000 $ 44,734Exposure I 4%
Hired Physical Damage $ 100.000 I $ 5,000 $ 100,000 I $ 5,000 I Difference I 4.10%
I IPremium I $ 9,631
I Sub-Total $ 165,423 I Sub-Total S 175,054 I Difference I 5.82%
2024/2025 202512026 Changes In Exposures
ANNUAL ANNUAL
LINE OF COVERAGE LIMIT DEDUCTIBLE/SIR PREMIUM LIMIT DEDUCTIBLE/SIR PREMIUM 2024/2025 I 2025/2026
Public Officials:
Payroll
Preferred Governmental insurance Trust I
� $86,225,000 I $82,566,948
Public Officials Liability $ 5.000,000 I $200,000 SIR I $ 99,968 $ 5,000.000 I $200,000 SIR I $ 99,171 Exposure I $ (3,658.052)
Employment Practices Liability $ 5,000,000 I $200,000 SIR I $ 5.000.000 I $200,000 SIR I Difference I -4.24%
I I I I I Premium I $ (797)
Sub-Total I $ 99,968 I Sub-Total I$ 99,171 I Difference I -0.80%
Cyber Liability:
Preferred Governmental Insurance Trust
Cyber Liability
Privacy&Security Liability Coverage Details Exempt from Public Record per HB7057 Coverage Details Exempt from Public Record per HB7057
Cyber Extortion&Ransomware
Excess Workers'Compensation:
Payroll
Preferred Governmental Insurance Trust $86,225,000 I $82,566,951 I
Exposure I $ (3,658,049)
Workers'Compensation I Statutory I $500,000 SIR 1 $ 306.805 I Statutory I $500,000 SIR I$ 279,617 Difference I -4.24%
Employers Liability I $1M/$1M/$1M I $500,000 SIR I Included I $1m/$1m/$1m I $500,000 SIR I Included I I
I I I I I OPTION-$350,000 SIR I $ 408,594 I Premium 1 $ (27,188)
I I Sub-Total I $ 306,805 I I Sub-Total I$ 279,617 I Difference I -8.86%
Difference to Expiring
TOTAL PREMIUM I I $ 2.190.797 I I S 2.262.101 I$ (228,696)1 -9.18%