HomeMy WebLinkAboutCity of Tamarac Resolution R-2009-124Temp. Reso. #11681
August 25, 2009
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2009- Id, 41
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, 2009 AT A COST
OF $1,017,282 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, 2009; 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
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Temp. Reso. #11681
August 25, 2009
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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 2007-2008 and the City of Tamarac can expect to receive at least
$124,164 in return of premium should the City elect to renew coverages for the
2009-2010 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,
2009 based on the renewal quote of $1,017,282 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, 2009 as outlined above.
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Temp. Reso. #11681
August 25, 2009
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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 (FMIT) for a one year period
beginning on October 1, 2009 at a cost of $1,017,282 per the renewal quote=
(attached as Exhibit 1) with said lines of coverage to expire on October 1, 2010,
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. #11681
August 25, 2009
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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 V14�, day of r1� ,2009.
BETH FLANSBAUM-TALABISCO,
MAYOR
ATTEST:
RECORD OF COMMISSION VOTE:
MARIOWSW NSON, C C MAYOR FLANSBAUM-TALABISCO_
QITY CLERK DIST 1: COMM BUSHNELL
DIST 2: VM ATKINS-GRAD e,'
DIST 3: COMM GLASSER '
DIST 4: COMM. DRESSLER t
I HEREBY CERTIFY that
I have approved this
RESOLUTION as to form.
' SAMUEL S. G REN
CITY ATTO NEY
1
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R
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N — ,.
FLORIDA LEAGUE OF CITIES, INC.
Public Risk Services
P. O. Box 530065
Orlando, FI 32853-0065
RENEWAL QUOTE FOR 2009-2010
City of Tamarac
FMIT 0584
Coverage
Deductible
Limit
Premium
General/Professional Liability
$25,000 StopLoss
$2,000,000
$249,170
StopLoss Amount
$375,705
Automobile Liability
$25,000 StopLoss
$2,000,000
$91,139
StopLoss Amount
$75,000
Automobile Physical Damage
Per Schedule
$15,749
StopLoss Amount
$30,000
Property
$50,000
$71,967,928
$382,393
Workers' Compensation
$25,000
Total Payroll
Experience Modification 0.87
10/1/09
$22,392,149
$278,831
GRAND TOTAL PREMIUM
RETURN OF PREMIUM
REDUCED GRAND TOTAL PREMIUM
$1,017,282
124164)
$893,118
The FMIT Board of Trustees has approved an $8,000,000 return of premium for members in good
standing that had property coverage in the 2007-2008 Fund Year. The directive of the Board was to
return property premium on renewing members that participated in the Trust's property program in
2007-2008. Our intent is to establish a formula that would return premium on a pro-rata basis once the
2009-2010 renewals are finalized. A check will be issued in mid -November 2009 or a credit can be
taken on the 2009-2010 second installment payment which will be billed in early December and due on
January 1, 2010. 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 2007-2008 the
City of Tamarac can expect at least $124,164 in return premium should they elect to renew coverages
for the 2009-2010 policy year.
'Includes: Drug Free Credit: Yes
Safety Credit: Yes
IMPORTANT NOTE:
PRICING CONTAINED WITHIN THIS QUOTE IS CONTEMPLATED ON A PACKAGE BASIS. IF ANY OF THE
LINES OF COVERAGE ARE NOT ACCEPTED, PRICING FOR THE OTHER LINES OF COVERAGE MAY
CHANGE OR COVERAGE OFFERINGS ON THE REMAINING LINES COULD BE WITHDRAWN ALTOGETHER.
THE FMIT RESERVES THE RIGHT TO SPLIT COVERAGES AT THEIR DISCRETION AND ADJUST PRICING
IF DEEMED NECESSARY.
REVISED 8/31/2009