HomeMy WebLinkAboutCity of Tamarac Resolution R-2015-091C
Temp. Reso #12671
September 10, 2015
Page 1 of 5
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2015- d /
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA; AUTHORIZING THE
RENEWAL OF GENERAL LIABILITY, AUTOMOBILE
LIABILITY, AUTOMOBILE PHYSICAL DAMAGE,
WORKERS' COMPENSATION, AND PROPERTY LINES
OF COVERAGE WITH THE FLORIDA MUNICIPAL
INSURANCE TRUST (FMIT) FOR A ONE (1) YEAR
PERIOD BEGINNING OCTOBER 1, 2015 AT A COST
OF $857,677 AND PAYMENT OF ANY INCREASE
RESULTING FROM THE ANNUAL PREMIUM AUDIT;
PROVIDING FOR CONFLICTS; PROVIDING FOR
SEVERABILITY, AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the City of Tamarac currently holds several lines of insurance
coverage with the Florida Municipal Insurance Trust (FMIT); and
WHEREAS, the City's policies with the FMIT for General Liability,
Automobile Liability, Automobile Physical Damage, Workers' Compensation, and
Property expire October 1, 2015; and
WHEREAS, the FMIT has submitted renewal premiums to the City; and
WHEREAS, if the City renews its lines of coverage, the FMIT will provide
payment for all defense costs incurred with the City being responsible for
Temp. Reso #12671
September 10, 2015
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settlement and judgment costs up to $10,000 for Automobile Physical Damage,
$25,000 per claim for General Liability, Automobile Liability, and Workers'
Compensation claims, and $50,000 for Property Damage; and
WHEREAS, the City's policies with the FMIT for General Liability,
Automobile Liability, Automobile Physical Damage, Workers' Compensation and
Property are quoted as an estimated premium, and are subject to an adjustment
based on the annual premium audit; and
WHEREAS, the FMIT's Board of Trustees has approved the return of
property premium for renewing members that participated in the Trust's property
program in the 2013-2014 Fund Year and the City of Tamarac can expect to
receive at least $61,438 in return of premium should the City elect to renew
coverages for the 2015-2016 policy year; and
WHEREAS, it is the recommendation of the City Manager and the Director
of Human Resources that the City renew its General Liability, Automobile
Liability, Automobile Physical Damage, Workers' Compensation and Property
lines of coverage with the FMIT for a one year period beginning on October 1,
2015 based on the renewal quote of $857,677 as submitted by the FMIT
(attached as Exhibit 1) and to pay any additional premium resulting from the
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Temp. Reso #12671
September 10, 2015
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annual premium audit which has been approved by the City Manager after
notification to the City Commission; and
WHEREAS, the City Commission of the City of Tamarac, Florida, deems it
to be in the best interest of the citizens and residents of the City of Tamarac to
renew the City's General Liability, Automobile Liability, Automobile Physical
Damage, Workers' Compensation and Property lines of coverage with the FMIT
for a one year period beginning on October 1, 2015 as outlined above.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF TAMARAC, FLORIDA:
SECTION 1: The foregoing "WHEREAS" clauses are hereby
ratified and confirmed as being true and correct and are hereby made a specific
part of this Resolution. All exhibits attached hereto are incorporated herein and
made a specific part of this Resolution.
SECTION 2: The appropriate City officials of the City of Tamarac
are authorized to renew the City's General Liability, Automobile Liability,
Automobile Physical Damage, Workers' Compensation and Property lines of
coverage with the Florida Municipal Insurance Trust (FMIT) for a one year period
beginning on October 1, 2015 at a cost of $857,677 per the renewal quote
Temp. Reso #12671
September 10, 2015
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(attached as Exhibit 1) with said lines of coverage to expire on October 1, 2016,
and to pay any additional premium resulting from the annual premium audit
which has been approved by the City Manager after notification to the City
Commission.
SECTION 3: All resolutions or parts of resolutions in conflict
herewith are hereby repealed to the extent of such conflict.
SECTION 4: If any clause, section, other part or application of this
Resolution is held by any court of competent jurisdiction to be unconstitutional or
invalid, in part or application, it shall not affect the validity of the remaining
portions or applications of this Resolution.
SECTION 5: This Resolution shall become effective immediately
upon its passage and adoption.
Temp. Reso #12671
September 10, 2015
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PASSED, ADOPTED AND APPROVED this day of; 1
2015.
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HARRY DRE SLER
MAYOR
ATTEST:
POIR
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CITY CLERK
1
I HEREBY CERTIFY THAT I HAVE
APPROVED THIS RESOLUTION
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SAMU L S. G REN
CITY ATTORNEY
1
RECORD OF COMMISSION VOTE:
MAYOR DRESSLER
DIST 1: VICE MAYOR BUSHNELL ✓
DIST 2: COMM. GOMEZ .�
DIST 3: COMM. GLASSER
DIST 4: COMM. PLACKO�'
EXHIBIT I
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Department of Insurance and Financial Services
FLORIDA MUNICIPAL INSURANCE TRUST
RENEWAL QUOTE FOR 2015-2016
City of Tamarac
FMIT 0584
Coverage
Deductible
Limit
Premium
General/Professional Liability
$25,000
$2,000,000
$230,360
StopLoss Amount:
$501,776
Automobile Liability
$25,000
$2,000,000
$78,266
StopLoss Amount:
$75,000
Automobile Physical Damage
Per Schedule
$12,483
StopLoss Amount:
$30,000
Property
$50,000
$76,166,980
$296,230
Workers' Compensation
$25,000
Total Payroll
Experience Modification 0.77
10/1115
$24,933,564
$240,338
StopLoss Amount:
$325,715
GRAND TOTAL PREMIUM
RETURN OF PREMIUM
REDUCED GRAND TOTAL PREMIUM
$857,677
$61,438
$796,239
The FMIT Board of Trustees has approved a $6,000,000 return of premium for members that had property
coverage in the 2013-2014 Fund Year. The directive of the Board was to return property premium on the
renewing members for 2016-2016 that participated in the Trust's property program in 2013-2014. Based on
the property premiums paid in 2013-2014 the City of Tamarac can expect $61,438 in return premium should they
elect to renew coverage for the 2015-2016 policy year.
*Includes: Drug Free Credit: Yes
Safety Credit: Yes
dote; Coverage summaries provided herein are intended as an outline of coverage only and are
iecessarily brief. In the event of loss, all terms, conditions, and exclusions of actual Agreement and/or
:1olicies will apply.