Item 3C - Insurance RenewalAGENDA ITEM:
SUBMITTED BY:
DATE:
BACKGROUND:
BUDGET:
CITY OF ATLANTIC BEACH
CITY COMMISSION MEETING
STAFF REPORT
Renewal of Liability and Workers' Compensation Insurance
Catherine Berry, Esq., Director of Human Resources
August 26, 2015
AGENDA ITEM# 3C
SEPTEMBER 28, 2015
There are currently two carriers that provide liability and workers' compensation coverage for
municipalities: Preferred Governmental Insurance Trust and Florida Municipal Insurance
Trust. Our insurance broker, Harden and Associates, got bids from both carriers two year's
ago and the City chose Florida Municipal Insurance Trust for our Workers' Compensation
insurance and Preferred Governmental Insurance Trust (PGIT) for all other liability coverages.
We have received prompt and efficient service from both carriers and they have provided
exceptional renewal rates, with a slight (1 %) decrease in overall premium for next year.
Public Officials & Employment Practices Liability (EEOC Claims)
Auto
Workers' Compensation
Statutory Benefits: Accidental Death & Dismemberment
Environmental Legal Liability
Fiduciary Liability
Flood
Premium decrease of just over 1%, for a total premium decrease of $4,982.31 (from
$432,987.31 in 2015 to $428,005 in 2016).
RECOMMENDATIONS:
1. Approve renewal of all liability and workers' compensation insurances for the next year.
2. Authorize City Manager to sign related insurance renewal documents.
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REVIEWED BY CITY MANAGER: --;/t {/a..,y, /~