HomeMy WebLinkAboutCity of Tamarac Resolution R-2014-088Temp. Reso #12532
August 27, 2014
Page 1 of 4
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2014-_�
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, 2014 AT A COST
OF $993,476 AND PAYMENT O
FLICTS;
PROVID
F
WHEREAS, the City of Tamarac currently holds several lines of insurance
coverage with the Florida Municipal Insurance Trust (EMIT); and
WHEREAS, the City's policies with the FMIT for General Liability,
Automobile Liability, Automobile Physical Damage, Workers' Compensation-, and
Property expire October 1, 2014; 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
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
Temp. Reso #12532
August 27, 2014
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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 2012-2013 Fund Year and the City of Tamarac can expect to
receive at least $67,750 in return of premium should the City elect to renew
coverages for the 2014-2015 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,
2014 based on the renewal quote of $993,476 as submitted by the FMIT
(attached as Exhibit 1) 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; 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, 2014 as outlined above.
Temp. Reso #12532
August 27, 2014
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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 (EMIT) for a one year period
beginning on October 1, 2014 at a cost of $993,476 per the renewal quote
(attached as Exhibit 1 with said lines of coverage to expire on October 1, 20151
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.
Temp. Reso #12532
August 27, 2014
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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.
PASSED ADOPTED AND APPROVED this da of
y , 2014.
r
HAFtRY"bRESSLER
MAYOR
ATTEST:
PATRICIA TEUFEL, CIVIC
CITY CLERK
RECORD OF COMMISSION VOTE:
MAYOR DRESSLER
DIST 1: COMM. BUSHNELL
DIST 2: VICE MAYOR GOMEZ
DIST 3: COMM. GLASSER � --�-
DIST 4: COMM. P LAC KO -�.--�
041,
I HEREBY CERTIFY THAT I HAVE
APPROVED THIS RESOLUTION
AS TO FORM
SAMUEL S. GOREN
CITY ATTORNEY
EXHIBIT 1
AouE o�
was
Department of Insurance and Financial Services
FLORIDA MUNICIPAL INSURANCE TRUST
RENEWAL QUOTE FOR 2014-2015
City of Tamarac
FM IT 0584
Coverage
General/Professional Liability
StopLoss Amount:
Automobile Liability
StopLoss Amount:
Automobile Physical Damage
StopLoss Amount:
Property
Deductible
$25,000
$450,241
$25,000
$75,000
Per Schedule
$30,000
$50,000
Workers' Compensation $25,000
Experience Modification 0.75 10/1 /14
StopLoss Amount: $329,915
GRAND TOTAL PREMIUM
RETURN OF PREMIUM
REDUCED GRAND TOTAL PREMIUM
Limit Premium
$2,000,000 $275,132
$2,000,000 $71,667
$13,885
$76,4481589 $367,586
Total Payroll
$239541,833 $265,206
$993,476
67 750
$925,726
The FMIT Board of Trustees has approved a $7,000,000 return of premium for members that had property
coverage in the 2012-2013 Fund Year. The directive of the Board was to return property premium on the
renewing members for 2014-2015 that participated in the Trust's property program in 2012-2013. Based on
the property premiums paid in 2012-2013 the City of Tamarac can expect $67,760 in return premium should they
elect to renew coverage for the 2014-2016 policy year.
*Includes: Drug Free Credit: Yes
Safety Credit: Yes
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.
8/20/2014