Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Bind Policies For Terrorism Liability Insurance And Terrorism Property Insurance, For A Not To Exceed Amount Of $27,004.00 For Which Quotes Were Solicited By Arthur J. Gallagher Risk Management Services.
Body
Staff Recommends: Approval of the attached Resolution
Explanation:
The City desires to protect its assets through the purchase of terrorism property insurance and terrorism liability insurance. In accordance with the City's Purchasing Ordinance, Section 38.40(C)(9), purchases of insurance through the City's "Agent of Record" are exempt from the competitive bid and competitive proposal requirements. Utilizing RFP 4344-13-IS and Resolution R-2013-086, the City designated as its broker of record, Arthur J. Gallagher Risk Management Services. Arthur J. Gallagher Risk Management Services solicited and/or obtained quotes from different carriers for various levels of the aforementioned insurances on behalf of the City. The loss limits under the terrorism property coverage insurance is $100,000,000.00 and the loss limits under the terrorism liability coverage insurance is $10,000,000.00, subject to the terms, conditions and restrictions set forth in the respective insurance policies attached to this Resolution.
Recommended for inclusion on the agenda by:
Wazier Ishmael, Ph.D., City Manager
Raquel Elejabarrieta, Director, Labor Relations