HomeMy WebLinkAboutResolution No. 26-119RESOLUTION NO. 26-119
A RESOLUTION OF THE CITY OF ATLANTIC BEACH, FLORIDA,
AUTHORIZING THE RENEWAL OF THE CITY'S PROPERTY,
CASUALTY, LIABILITY, WORKERS' COMPENSATION, FIDUCIARY
LIABILITY, FLOOD, AND RELATED INSURANCE COVERAGES FOR
THE POLICY YEAR BEGINNING OCTOBER 1, 2026; AUTHORIZING
THE CITY MANAGER TO EXECUTE DOCUMENTS NECESSARY TO
BIND AND MAINTAIN COVERAGE; AUTHORIZING THE
EXPENDITURE OF BUDGETED FUNDS; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City of Atlantic Beach maintains insurance coverage to protect City
property, operations, employees, public officials, and the public from a variety of insurable risks
and liabilities; and
WHEREAS, Arthur J. Gallagher Risk Management Services, LLC ("Gallagher"), the
City's insurance broker, has presented a renewal proposal dated September 4, 2026, for
insurance coverage effective October 1, 2026; and
WHEREAS, the proposed renewal includes a Commercial Package and Workers'
Compensation coverage through Preferred Governmental Insurance Trust (PGIT), Fiduciary
Liability coverage through Hudson Insurance Company, flood coverage through Auto -Owners
Insurance Company, and related multi-year coverages as identified in the renewal proposal; and
WHEREAS, Gallagher reports a total annual program cost of $804,628.50 for the
renewal program, including the annual broker fee and certain multi-year policy components
previously prepaid, compared with $995,638.45 for the expiring program, representing a
reported decrease of $191,009.95, or approximately 19.2 percent; and
WHEREAS, the City Commission finds that renewal of the insurance program is in the
best interests of the City and provides appropriate risk transfer for City operations and assets.
NOW, THEREFORE, be it resolved by the City Commission of the City of Atlantic
Beach, Florida as follows:
SECTION 1. APPROVAL OF RENEWAL. The City Commission hereby approves the
FY 2026-27 insurance renewal program presented by A.J.Gallagher Risk Management Services,
LLC, with coverage effective October 1, 2026, substantially in accordance with the proposal
dated September 4, 2026, at a reported total annual program cost not to exceed $804,628.50,
subject to the terms, conditions, exclusions, deductibles, and final policies issued by the
applicable carriers.
SECTION 2. AUTHORITY TO BIND COVERAGE. The City Manager is authorized
to execute the Client Authorization to Bind Coverage and any other documents reasonably
necessary to bind, renew, administer, or maintain the approved insurance coverages, with the
assistance of the City's Director of HR, Safety & Risk Management and Finance staff.
SECTION 3. ADMINISTRATIVE CHANGES. The City Manager is further
authorized to approve routine additions, deletions, endorsements, schedule changes, and
premium adjustments occurring during the policy year that are necessary to reflect changes in
City property, vehicles, equipment, payroll, staffing, or operations, provided that sufficient funds
are available within the adopted budget and such changes do not materially alter the insurance
program approved by the City Commission.
SECTION 4. FUNDING. The Finance Director is authorized to pay the premiums,
broker fee, and related charges actually due for FY 2026-27 from lawfully appropriated and
budgeted funds. The City acknowledges that certain multi-year policy premiums identified in the
Gallagher proposal were prepaid in 2025 and are included in the proposal's annual program
comparison for informational purposes.
SECTION 5. EFFECTIVE DATE. This Resolution shall take effect immediately upon
its passage and adoption.
PASSED AND ADOPTED by the City of Atlantic Beach, this 14th day of September,
2026.
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Curtis Ford, Mayor
Attest:
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Donna L. Bartle, City Clerk
Approved as to form and correctness:
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Jaso Ga 'el, City Attorney