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File #: R-2021-196    Version: 1 Name: 2021 Renewal of flood insurance for Beach Maintenance Facility
Type: Resolution Status: Passed
File created: 7/26/2021 In control: Office of Human Resources
On agenda: 8/25/2021 Final action: 8/25/2021
Title: A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Bind The Renewal Of Flood Insurance Policy With American Bankers Insurance Company of Florida For The City-Owned Beach Maintenance Facility, Located At 102 South Ocean Drive, For An Amount Not To Exceed $1,261.00.
Attachments: 1. Resolution 2021 Renewal for flood Insurance for Beach Maintenance Facility, 102 S. Ocean Drive.pdf, 2. Backup 2021 Flood Insurance for Beach Maintenance Facility.pdf

Title

A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Bind The Renewal Of Flood Insurance Policy With American Bankers Insurance Company of Florida For The City-Owned Beach Maintenance Facility, Located At 102 South Ocean Drive, For An Amount Not To Exceed $1,261.00.

 

 

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 American Bankers Insurance Company of Florida that exceed the City Manager authority limits.

 

The coverage provided by American Bankers Insurance Company of Florida is for the Beach Maintenance Facility, 102 South Ocean Drive, for a total renewal cost not to exceed the amount of $1,261.00, which is a 0.72% increase from the previous year.

 

 

Fiscal Impact:

Funding for the 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 0.72% or $9 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