Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Bind The Renewal Of The Flood Insurance Policy With Hartford Fire Insurance Company For 1617 N. Surf Road, Garfield Community Center, For A Not To Exceed Amount Of $9,777.00.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of Attached Resolution.
Explanation:
The City desires to protect its assets through the purchase of flood insurance. In accordance with Section 38.41(C)(10) of the City’s Procurement Code, purchases of insurance through the City’s “Agent of Record” are exempt from the competitive bid and competitive proposal requirements. Utilizing RFP 4606-19-AP and Resolution R-2019-116, the City designated Aon Risk Services, Inc. of Florida as its broker of record. Aon Risk Services, Inc. of Florida solicited and/or obtained quotes from different carriers for the various types of coverage on behalf of the City.
Commission approval is requested as the City has other flood insurance policies with Hartford Fire Insurance Company that exceed the City Manager authority limits.
The total renewal cost is for a not to exceed amount of $9,777.00.
Fiscal Impact:
Funding for this service is available in the FY 2021 Operating Budget in account number 558.112006.51900.591940.000000.000.000 (Property Insurance). The new premium is $567.00 more than the previous year.
Recommended for inclusion on the agenda by:
Tammie L. Hechler, Director, Human Resources
George R. Keller, Jr., Deputy City Manager