R18-137 1 RESOLUTION NO. R18-137
2
3 A RESOLUTION OF THE CITY OF BOYNTON BEACH,FLORIDA
4 APPROVING THE PROPERTY, CASUALTY AND WORKERS
5 COMPENSATION INSURANCE COVERAGE RENEWALS WITH
6 PREFERRED GOVERNMENTAL INSURANCE TRUST (PGIT)
7 FOR AN ANNUAL AMOUNT OF $944,327; AUTHORIZE THE
8 CITY MANAGER TO SIGN THE REQUIRED DOCUMENTS FOR
9 THE POLICY TERM OCTOBER 1,2018 TO SEPTEMBER 30,2019;
10 AND PROVIDING AN EFFECTIVE DATE.
11
12 WHEREAS, approval of renewing this coverage will allow the City to continue it's
13 established insurance program; and
14 WHEREAS, staff recommends and the City Commission does hereby approve the
15 renewal of the Property, Casualty and Workers Compensation insurance coverage with PGIT
16 for an annual amount of$944,327 for the period of October 1, 2018 to September 30, 2019.
17 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
18 THE CITY OF BOYNTON BEACH, FLORIDA AS FOLLOWS:
19 Section 1. Each Whereas clause set forth above is true and correct and incorporated
20 herein by this reference.
21 Section 2. The City Commission hereby approves the renewal of the Property,
22 Casualty and Workers Compensation insurance coverage with PGIT for an annual amount of
23 $944,327 and authorizes the City Manager to sign the required documents for the policy term
24 October 1, 2018 to September 30, 2019.
25 Section 3.. This Resolution shall become effective immediately upon passage.
26
27 PASSED AND ADOPTED this 20th day of September, 2018.
28
29 CITY OF BOYNTON BEACH, FLORIDA
30 YES NO
31
32 Mayor— Steven B. Grant �-
33
34 Vice Mayor—Christina L. Romelus
35
36 Commissioner—Mack McCray
37
38 Commissioner—Justin Katz
39
40 Commissioner—Joe Casello
41
42 VOTE
43 ATTEST:
44
45 i
46 Judit . Pyle, CMC
47 City erk
C:\Users\Stanzionet\Appdata\Local\Microsoft\Windows\Temporary Internet
Files\Content.IE5\VAGZE6PO\Property_And_Casualty_General_L iabillty_Insurance_Renewal(2018)_-_Reso.Docx
City of Boynton Beach
Property,Casualty&Workers'Compensation Insurance Coverages C GEHRING GROUP
.-
2018-2019 Evaluation
Program:2 Year Rate Guarantee
Preferred Governmental Insurance Trust-2017-2018 Preferred Governmental Insurance Trust-2018-2019
Policy SIR/Deductible Limits/TIV Premiums SIR/Deductible Limits/TIV Premiums
$25,000 AOP $141,406,998 AOP $25,000 AOP $141,602,306 AOP
Property(Inc!Contents) 5%TIV;min.$35,000(NS) Including Wind/Named Storm $ 418,857 I 5%TIV;min.$35,000(NS) Including Wind/Named Storm $ 405,714
$25,000 AOP Included in $25,000 AOP Included in
Boiler&Machinery 5%TIV;min.$35,000(NS) $ 50,000,000 Property premium 5%TIV;min.$35,000(NS) $ 50,000,000 Property premium
$25,000 Per Flood,Excl. Included in 1 $25,000 Per Flood,Excl. Included in
Flood A,V,Excess of NFIP $ 5,000,000 Property premium° A,V,Excess of NFIP $ 5,000,000 Property premium
Included in Included in
Business Income/Extra Expense 72 hours $1,000,000/$1,000,000 Property premium 1 72 hours $1,000,000/$1,000,000 Property premium
Inland Marine# Scheduled $ 6,347,567 $ 14,815 1 Per Schedule $ 6,643,835 $ 14,053
Unscheduled $ 1,000,000 Included' UnScheduled $ 1,000,000 Included
Included in Inland 1 Included in Inland
Marine Hull and P&I Per Schedule Included in Inland Marine Marine premium Per Schedule Included in Inland Marine Marine premium
$50,000-Empl Theft $50,000-Empl Theft
$50,000-Forgery $50,000-Forgery
$50,000-Theft of Money 1 $50,000-Theft of Money
Crime/Employee Dishonesty $ 1000 $ 917 t $ 1,000 $ 897
x - .,.. fx s• r-,^' �� x.A. r 'A 3 <,. .' .. , a -',_;:''',,::: ';'1'
.
pw s • , �.
$2,000,000 per occ./ �. z �
$2,000,000 per occ./
General Liability $200,000/$300,000 No Aggregate Limit $ 46,829 1 $200,000/$300,000 No Aggregate Limit $ 52,608
Payroll Basis: $37,000,000-! $41,843,530
Public Officials Liability/
Employment Practices Liability $4,000,000 per claim/ $4,000,000 per claim/
(Claims-Made) $200,000/$300,000 $4,000,000 agg. $ 61,941 1 $200,000/$300,000 $4,000,000 agg. $ 72,837
$2,000,000 per occ./ $2,000,000 per occ./
Law Enforcement Liability _ $200,000/$300,000 No Aggregate Limit $ 111,317 i $200,000/$300,000 No Aggregate Limit $ 183,325
Included inl Included in
Cyber Liability $ 200,000 $ 2,000,000 POL/EPLI t $ 200,000 $ 2,000,000 POL/EPLI
$2,000,000 per occ./ $2,000,000 per occ./
Automobile Liability $ 100,000 No Aggregate Limit $ 41,981 I $ 100,000 No Aggregate Limit $ 44,020
Automobile Physical Damage $ 10,000 Per Schedule $
,µ .»
32,74 $ 10,000 z.-
$ 26,302
No.of Autos 619
3
Actual Cash Value $29,139,850 $29,993,089
,,.k. :Y.-�2 . a s r acto.r' ,v» > _' ';`°e**r' r'.'441,..' tWa�a €a ��,. . I r'RJ , -mtax' #�;x :' v`
Payroll: $50,913,800.55 Payroll: $68,647,698
Excess Workers'Compensation $500,000 All Employees Statutory $ 130,872 1 $500,000 All Employees Statutory $ 144,571
`vc s?k' z$9 r�`.*�_ - ..:1 r -'. . ati ,h _: i,r#�m. ems.' az µ;4t . ...-moi ..- 7ly' 7:..:
Total Annual Premium $ 860,272 1 $ 944,327
$Increase/Decrease N/A f $ 84,055
%Increase!Decrease N/A a 10%