Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving And Authorizing The Appropriate City Officials To Execute The Renewal Of Flood Insurance Policies With Various Flood Insurance Companies For Multiple City Locations And Facilities For A Not-To-Exceed Amount Of $259,688.28, In Accordance With Section 38.41(C)(10) Of The Procurement Code. (Insurance)
Strategic Plan Focus
Infrastructure & Facilities
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
The City desires to protect its assets through the purchase of flood insurance. In accordance with the City’s Procurement Code, Section 38.41(C)(10), purchases of insurance through the City’s “Agent of Record” are exempt from competitive bid and competitive proposal requirements. Utilizing RFP 060-23-WV and Resolution R-2023-225, the City designated AON Risk Services, Inc. as its agent of record.
The total estimated renewal cost is for a not to exceed amount of $259,688.28.
Fiscal Impact:
Funding for the purchase of flood insurance will be available in the FY 2027 Operating Budget in account number 558.112006.51900.591940.00000.000.000, subject to approval and adoption by the City Commission.
Recommended for inclusion on the agenda by:
Tammie L. Hechler, Director, Human Resources
Adam Reichbach, Deputy City Manager