HomeMy WebLinkAboutCity of Tamarac Resolution R-95-2031
Temp. Reso. 7206
September 8, 1995
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-95—
A RESOLUTION OF THE CITY COMMISSION
OF THE CITY OF TAMARAC, FLORIDA,
AUTHORIZING THE RENEWAL OF CASUALTY
INSURANCE POLICIES FOR THE CITY OF
TAMARAC; PROVIDING FOR CONFLICTS;
PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Tamarac, Florida deems it to be in the best interests of
the citizens and residents of the City to maintain insurance protection for risk of casualty
loss.
WHEREAS, the casualty insurance policies listed on Exhibit A have an
anniversary date of October 1, 1995.
WHEREAS, all of the insurance companies listed on Exhibit A except for the
property insurer are willing to renew their policys effective October 1, 1995 at current
rates with only a modest increase in premium due to increased exposure e.g. increased
payrolls, revenues and property values.
WHEREAS, the property insurance values increased along with rates, resulting
in an 11% increase in property insurance premiums effective October 1, 1995.
WHEREAS, competitive proposals were obtained on the excess workers'
compensation insurance, the only quote that was lower in price than Midwest
Employers Casualty Insurance Company was from Continental Casualty for .2691 % of
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Temp. Reso. 7206
September 8, 1995
payroll or approximately $6,100 lower but the self -insured retention (deductible) per
occurrence was $50,000 higher or $400,000 per occurrence, which is extremely high.
WHEREAS, Coregis Insurance Company is willing to provide full defense cost
coverage with defense costs no longer being subject to the $25,000 deductible or the
$2,000,000 policy limit; the Risk Manager does not recommend purchasing this
coverage enhancement because the City would no longer be able to unilaterally select
legal counsel and the insurer would not be responsible for the portion of court awards
that exceeded any settlement that the City refused to approve or the defense costs
incurred after the settlement proposal.
WHEREAS, the City's Risk Manager recommends renewal of the City's casualty
insurance policies per Exhibit A effective October 1, 1995.
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.
SECTION 2: The City Commission of the City of Tamarac, authorized the
renewal of the City's casualty insurance policies listed on Exhibit A in accordance with
the premiums listed on Exhibit A.
SECTION 3: All resolutions or parts of resolutions in conflict herewith are hereby
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Temp. Reso. 7206
September 8, 1995
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.
PASSED, ADOPTED AND APPROVED this Day of� .1>
U 995.
,i A AA S
JgOR"MAN ABRAMOWITZ
MAYOR
ATTEST:
CAROL A. EVANS, CMC
CITY CLERK
I HEREBY CERTIFY that I have
approved this Resolutioryas
to farm. 7
MITCHELL S./DRAFT
CITY ATTORNEY
Risk Management/BL
. y 7X'- 0'
MIST. 1:
V / M KATZ
DIST. 2:
COMM. MISHKIN
DIST. 3:
COMM. SCHREIBER
DIST. 4:
COMM. MACHEK
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