R21-132 1 RESOLUTION NO. R21-132
2
3 A RESOLUTION OF THE CITY OF BOYNTON BEACH, FLORIDA
4 APPROVING THE RENEWAL OF PROPERTY, CASUALTY, AND
5 WORKERS' COMPENSATION INSURANCE COVERAGE WITH FLORIDA
6 MUNICIPAL INSURANCE TRUST (FMIT) AND AUTHORIZE CITY
7 MANAGER TO SIGN ALL REQUIRED DOCUMENTS FOR THE TERM OF
8 THE POLICY: OCTOBER 1, 2021 - SEPTEMBER 30, 2022; AND
9 PROVIDING AN EFFECTIVE DATE.
10
11 WHEREAS, The Gehring Group, the City's Risk Consultant, has The Gehring Group, the
12 City's risk broker, negotiated a renewal with an 8.6%increase in premiums for FY 21/22 totaling
13 $1,030,067 for the City's self-insured risk management program; and
14 WHEREAS, staff recommends and the City Commission does hereby approve the
15 renewal of Property, Casualty and Workers Compensation insurance coverage with EMIT for an
16 annual amount of $1,030,067 for the period of October 1, 2021 to September 30, 2022.
17 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
18 BOYNTON BEACH, FLORIDA AS FOLLOWS:
19 Section 1. Each Whereas clause set forth above is true and correct and
20 incorporated 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 FMIT for an annual amount of
23 $1,030,067 and authorizes the City Manager to sign the required documents for the policy term
24 October 1, 2021 to September 30, 2022.
25
S:\CA\RESO\Property And Casualty General Liability Insurance Renewal(2021-22)-Reso.Docx
26 Section 3. This Resolution shall become effective immediately upon passage.
27
28 PASSED AND ADOPTED this 21st day of September, 2021.
29 CITY OF BOYNTON BEACH, FLORIDA
30
31 YES NO
32
33 Mayor–Steven B. Grant ✓
34
35 Vice-Mayor–Woodrow L. Hay
36
37 Commissioner–Justin Katz
38
39 Commissioner–Christina L. Romelus +�
40
41 Commissioner–Ty Penserga
42
43 VOTE
44
45 ATTEST:
46
47
48
49 Aajw..-
50 C stal Gibson, MMC
51 City Clerk
52
53
54 (Corporate Seal)
55
•
S:\CA\RESO\Property And Casualty General Liability Insurance Renewal(2021-22)-Reso.Docx
City of Boynton Beach
I G E H R I N G GROUP
Property,Casualty&Workers Compensation Insurance Evaluation
EMPLOYEE BENEFITS I RISK MANAGEMENT
2021-2022 Renewal Evaluation
Current Renewal
Florida Municipal Insurance Trust Florida Municipal Insurance Trust
2020-2021 2021-2022
Coverage Type Deductible Coverage Limits Premium Deductible Coverage Limits
$25,000 AOP $193,141,806 TIV $25,000 AOP $211,971,098 TIV
Property 5%per Loc;min. Including Wind/Named $ 473,451 5%TIV;min.$35,000 Including Wind/Named $ 594,012
$35,000(NS) Storm (Named Storm) Storm
Boiler&Machinery $25,000 AOP $ 50,000,000 Included in Property $25,000 AOP $ 50,000,000 Included in Property
Excess Flood $25,000 Per Flood, $ 5,000,000 Included in Property $25,000 Per Flood, $ 5,000,000 Included in Property
Excl.A,V,Excess of NAP Excl.A,V,Excess of NAP
Inland Marine Included in Property Included in Property
Scheduled Varies $ 2,062,037 Varies $ 2,123,963
Unscheduled Varies $ 1,000,000 Varies $ 1,000,000
Equipment Breakdown. $25,000 AOP; $ 50,000,000 Included in Property $25,000 AOP; $ 50,000,000 Included in Property
5%Named Storm 5%Named Storm
Crime Coverage Included in Property Included in Property
Employee Dishonesty: $ 1,000 $_ 50,000 $ 1,000 $ 50,000
Theft of Money&Securities: $ 1,000 $ 50,000 ,_$ 1,000 $ 50,000
Faithful Performance of Duty: $ 1,000 $ 50,000 $ 1,000 $ 50,000
Sub Total-Property $ -473,451
t 594,0121
General Liability $ 200,000 $2,000,000 per occ./ $ 153,005 $ 200,000 $2,000,000 per occ./ $ 161,446
No Aggregate Limit No Aggregate Limit
Payroll Basis $53,404,863.00
Jetwork Security&Privacy Liability $ 200,000 $ 2,000,000 Included in POL/EPLI $ 200,000 $ 2,000,000 Included in POL/EPU
Public Official Liability& $ 200 000 $4,000,000 per claim/ Included in POL/EPU $ 200,000 $4.000,000 per claim/ Included in POL/EPU
Employment Practices Liability $4,000,000 au. $4,000,000 egg.
Law Enforcement Liability $ 200,000 $2,000,000 per / Included in POL/EPU $ 200,000 $2'�'�per / Included in POL/EPLI
No Aggregate Limit No Aggregate Limit
Auto Liability $ 100 000 $2,000,000 per occ./ $ 102, 367 $ 100,000 $2'�'�per°U'/ $ 81,968
No Aggregate Limit No Aggregate Limit
Auto Physical Damage Included in AL $ 31,364
Comprehensive&
$ 5,000 Per Schedule $ 5,000 Per Schedule
Collision Coverage
Sub Total-LkbBky&Automobile $ 255,372 $ 274,778
Workers'Compensation(Excess) Statutory $ 104,246 $ _ - $ 101,277
Payroll Basis $72,211,024.00 $72,850,000.00
SIR 500,000 500,000
Sub Total-Workers'Comp $ 104,246 $ 101,277
Package Premium: $ 833,069 $ 970,067
Service Fee $ 60,000 $ 60,000
Total Annual Premium $ 893,069 $ 1,030,067
$Increase or Decrease N/A $ 76,998
%Increase or Decrease N/A 8.6%
,t_
_ IT Florida Municipal Insurance Trust
Annual Billing - 21/22 Fund Year
rrADITA 1111111111Y.IDAT TATCTIDA3.fl TDIICT
FMIT# 0055 Invoice Date: 8/15/2021 Bank ACH: Capital City Bank
217 N.Monroe St.
Invoice ID#: INV-34410-D4R3 Due Date: 10/1/2021 Tallahassee,FL 32301
RTN#/ABA#:063100688 ACCT#:0032620701
ATTN:Julie Oldbury Acct Type: Checking
City of Boynton Beach Acct Name: Florida Municipal Insurance Trust
100 East Ocean Avenue Please make check payable to:
Boynton Beach,FL 33435 Florida Municipal Insurance Trust
REVISED INVOICE P.O.Box 1757
Tallahassee,FL 32302-1757
Policy Summary
General Liability Auto Liability Auto Physical Property Workers Total
Damage Compensation
Gross Premium $161,446.00 $81,968.00 $31,364.00 $594,012.00 $101,277.00 $970,067.00
Service Fee $15,000.00 $7,500.00 $7,500.00 $15,000.00 $15,000.00 $60,000.00
Total Net Premium $176,446.00 $89,468.00 $38,864.00 $609,012.00 $116,277.00 $1,030,067.00
Previous Activity
Previous Invoices $1,044,067.00
Total Balance Forward $1,044,067.00
Current Installment
Coverage Premium Service Fee Total Net Premium
General Liability Coverage $161,446.00 $15,000.00 $176,446.00
Auto Liability Coverage $81,968.00 $7,500.00 $89,468.00
Auto Physical Damage Coverage $31,364.00 $7,500.00 $38,864.00
Property Coverage $594,012.00 $15,000.00 $609,012.00
Workers Compensation Coverage $101,277.00 $15,000.00 $116,277.00
Total Installment Amount $1,030,067.00
Total Due by 10/1/2021 $2,074,134.00
NOTE: THIS RENEWAL IS BASED ON ALL COVERAGES. IF ANY OF THE LINES OF COVERAGE ARE NOT RENEWED,THE OTHER LINE PRICING
WILL CHANGE OR COVERAGE OFFERINGS ON THE REMAINING LINES COULD BE WITHDRAWN ALTOGETHER.
POLICIES WILL BE MADE AVAILABLE AFTER OCTOBER 1,2021 AND CAN BE VIEWED AND PRINTED ONLINE ONCE PAYMENT IS RECEIVED.
ELECTRONIC POLICIES ARE ALSO AVAILABLE AFTER OCTOBER 1,2021 UPON REQUEST.
Please see below for a copy of our Premium Installment Plan,Penalty Policy and ACH Instructions.
*****Please return a copy of this invoice with your payment to the Tallahassee office or send ACH information,Invoice Number
and Amount Paid in an email to AccountsReceivable@flcities.com.*****
PLEASE READ THIS PAGE CAREFULLY
NO COVERAGES, TERMS OR CONDITIONS ARE TO BE ASSUMED
All Trust Programs are Non-Assessable
Terms of this Agreement:
Premiums shown are subject to year-end audit adjustments
All coverages provided by the Florida Municipal Insurance Trust are on an occurrence format. The Florida Municipal
Insurance Trust does not automatically include prior acts (tail) coverage.
2021 /22 PREMIUM INSTALLMENT PLAN
First Installment Second Installment Third Installment Fourth Installment
25% minimum due 25% minimum due 25% minimum due 25% minimum due
October 1, 2021 January 1, 2022 April 1, 2022 July 1, 2022
NOTE: If the total net premium is under$6,000.00 the installment provision does not apply
Payment is to be forwarded to the League Office in Tallahassee.
For any other coverages, the premium is billed by the Florida League of Cities and due in full at inception, regardless
of the size of the premium
Forty-five(45) Days Notice of Cancellation and Non-Renewal
Ten (10) Days Notice of Cancellation for Non-Payment of Premium
Note: Coverage summaries provided herein are intended as an outline of coverage only and are necessarily brief. In
the event of loss, all terms, conditions, and exclusions of actual Agreement and/or policies will apply.
Florida Municipal Insurance Trust (FMIT)
ACH instructions to remit payment to FMIT
Bank: Capital City Bank
217 N. Monroe St.
Tallahassee, FL 32301
RTN#/ABA#: 063100688
ACCT#: 0032620701
Acct Type: Checking
Acct Name: Florida Municipal Insurance Trust
Payments for insurance deductibles cannot be made via ACH. Deductible payments should be made by check
and mailed to the Florida League of Cities Orlando office. If you have questions, contact the person whose name is
listed on the deductible invoice.
Please note: When making ACH payments to the FMIT, email the invoice number, payment amount,and a
copy of the invoice for which the payment applies to: accountsreceivable@flcities.com. (A PDF image of the
invoice is preferred.)This information will ensure that the funds are applied to your account in a timely
manner.
For questions regarding ACH payments, please contact Mona Davis,Accountant I, for the Florida Municipal
Insurance Trust, at(850)701-3016 or mdavis@flcities.com.