HomeMy WebLinkAboutCity of Tamarac Resolution R-2006-183Temp. Reso. #11043
September 11, 2006
Page 1 of 4
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2006-11
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, 2006 AT A COST
OF $1,486,026 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, 2006; 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
WHEREAS, the City's policies with the. FMIT for General Liability,
Automobile Liability, Automobile Physical Damage, Workers' Compensation and
Temp. Reso. #11043
September 11, 2006
Page 2 of 4
Property are quoted as an estimated premium, and are subject to an adjustment
based on the annual premium audit; 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,
2006 based on the renewal quote of $1,486,026 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, 2006 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.
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Temp. Reso. #11043
September 11, 2006
Page 3 of 4
SECTION 2: That 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, 2006 at a cost of $1,486,026, per the
renewal quote (attached as Exhibit 1) with said lines of coverage to expire on
October 1, 2007, 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.
Temp. Reso. #11043
September 11, 2006
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SECTION 5: This Resolution shall become effective immediately
upon its passage and adoption.
PASSED, ADOPTED AND APPROVED this a h day of Sc�eM�cf ,2006.
ATTEST:
MARION SWENSON, CMC
CITY CLERK
I HEREBY CERTIFY that
I have approved this
RESOLUTION as to form.
BETH FLANSBAUM-TALABISCO,
SC�
MAYOR
RECORD OF COMMISSION VOTE:
MAYOR FLANSBAUM-TALABISCO
DIST 1: V/M PORTNER
DIST 2: COMM ATKINS-GRAD
DIST 3: COMM. SULTANOF
DIST 4: COMM. DRESSLER
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FLORIDA LEAGUE OF CITIES, INC.
Public Risk Services
P. O. Box $30065
Orlando, VI 32853-0065
FL LEAGUE OF CITIES
RENEWAL QUOTE FOR 2006-2007
City of Tamarac
FMIT 0584
REVISED
Coverage
Deductible
Limit
General/Professional Liability
$26,000 Deductible Stoploss
$2,000,000
StopLoss Amount
$544,416
Automobile Liability
$25,000 Deductible Stoploss
$2,000,000
StopLoss Amount
$75,000
Automobile Physical damage
$10,000 Deductible Stoploss
StopLoss Amount
$30,000
Property
$50,000 Deductible Stoploss
$72,561,363
StopLoss Amount
$448,175
Workers' compensation
$25,000 Deductible Stoploss
Total Payroll
Experience Modification 0.73
10/1/06
$23,479,639
StopLoss Amount
$496,177
TOTAL PREMIUM
"Includes: Drug Free Credit: —Yes
Safety Credit: Yes
PAGE 02/03
EXHIBIT
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Prernigm
$288,726
$67,892
$23,571
$688,590
$517,247
$1,486, 026
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Re, 2006-2007 Renewal Quote - Renewal premiums are based on the coverages, limits and
deductibles as expiring,
General Liability - If updated exposures were not provided to us, the renewal premiums were
developed using the greater of current year exposures or the exposures
reported an the 2004-05 final audit.
Automobile Liability - Renewal premiums include all changes sent to us as of this date,
& Physical Damage the actual billed premium may reflect additional changes received
after this date.
Property - Building and Personal Property values include all changes requested to
be made as of this date, the actual billed premium may reflect
additional changes received after this date.
Property coverage is not offered on a stand alone basis.
LOCATIONS GREA ER THAN 112 MILE I"ROM CO STA AT ;
NAMED STORM DEDUCTIBLE: 5% OF THE 100% VALUE OF REAL AND PERSONAL PROPERTY, PERSONAL
PROPERTY OF OTHERS AND BUSINESS INCOME VALUES AT THE TIME OF LOSS OR DAMAGE AT THE
LOCATIONS WHERE THE PHYSICAL DAMAGE OCCURRED SUBJECT TO A MINIMUM OF THE POLICY DEDUCTIBLE
WHICHEVER IS GREATER.
Workers' Compensation Renewal premiums were developed using the payrolls reported on
the 2004-05 final audit or projected payrolls submitted and the
10/1/06 experience modification factor.
*AVAILABLE CREDITS: Drug Free Credit 5%
Safety Credit 2%
*ARE YOU RECEIVING ALL AVAILABLE CREDITS? IF NOT, CALL YOUR REPRESENTATIVE
FOR INFORMATION,
Your PHR Representative is available to discuss any questions you may have or changes
YOU wish to make.
911412006