HomeMy WebLinkAboutCity of Tamarac Resolution R-2010-1201
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Temp. Reso. #11921
September 2, 2010
Page 1 of 4
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2010- /,�J
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, 2010 AT A COST
OF $971,139 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, 2010; 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. #11921
September 2, 2010
Page 2 of 4
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 2008-2009 Fund Year and the City of Tamarac can expect to
receive at least $156,467 in return of premium should the City elect to renew
coverages for the 2010-2011 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,
2010 based on the renewal quote of $971,139 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, 2010 as outlined above.
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Temp. Reso. #11921
September 2, 2010
Page 3of4
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, 2010 at a cost of $971,139 per the renewal quote
(attached as Exhibit 1) with said lines of coverage to expire on October 1, 2011,
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. #11921
September 2, 2010
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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 �' day of 011.
BEN TALABISC
MAYOR
ATTEST:
PATRrIA TEUF L
INTERIM CITY CLERK
I HEREBY CERTIFY that
I have approved this
RESOLUTION as to form.
$,4MUEL-S.(f OREN
CITY ATTORNEY
Record of COMMISSION VOTE:
MAYOR TALABISCO
DIST 1: COMM BUSHNEIL��-' '
DIST 2: COMM GOMEZ_L���
DIST 3: COMM GLASSER
DIST 4: VM DRESSLER
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EXHIBI"I' 1. TR11921
Department of Insurance and Financial Services
P. O. Box 530065
Orlando, FI 32853-0065
Cover
General/Professional Liability
StopLoss Amount
Automobile Liability
StopLoss Amount
Automobile Physical Damage
StopLoss Amount
Property
RENEWAL QUOTE FOR 2010-2011
City of Tamarac
FMIT 0584
DeductibI Limit
$25,000 StopLoss $2,000,000
$376,802
$25,000 StopLoss
$75, 000
$10,000 StopLoss
$30, 000
$50, 000
Workers' Compensation $25.000 StopLoss
Experience Modification 0.90 10/1/10
StopLoss Amount $279,084
GRAND TOTAL PREMIUM
RETURN OF PREMIUM
REDUCED GRAND TOTAL PREMIUM
$2, 000, 000
$72,504,321
Total Payroll
$22,617,674
Premium
$249, 936
$85,483
$14, 737
$368.185
$252, 798
$971,139
156 467
$814,672
The FMIT Board of Trustees has approved a $10,000,000 return of premium for members that
had property coverage in the 2008-2009 Fund Year. The directive of the Board was to return
property premium on the renewing members for 2010-2011 that participated in the Trust's property
program in 2008-2009. At the members choice, either a check will be Issued in mid -November
2010 or a credit can be taken on the 2010-2011 second Installment payment which wlll be
billed In early December and due on January 1, 2011. A preliminary calculation has been made to
establish a minimum amount the member can expect to be used for budget purposes. Based on
the property premiums paid in 2008-2009 the City of Tamarac can expect at least $166,467 In return
premium should they elect to renew coverages for the 2010-2011 policy year,
"Includes: Drug Free Credit: Yes
Safety Credit: Yes
REVISED 9/2/2010