Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Bind The Renewal Policies For, Three Flood Insurance Policies Expiring In February And March 2016, Terrorism Insurance, A Surety Bond For The Finance Director, A Fuel Tax Bond, A Surety Bond For Certain Trustees Of The General Employees Retirement Fund, Marina Hull Coverage, Marina Operators Legal Liability, And Medical Professional Liability For A Not To Exceed Amount Of $125,000.00.
Body
Staff Recommends: Approval of the attached Resolution
Explanation:
The City desires to protect its assets through the purchase of various insurance products. 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. On April 17, 2013, through RFP 4344-13-IS and Resolution R-2013-086, the City designated as its broker of record, Arthur J. Gallagher Risk Management Services.
The City seeks to renew the insurance policies for, three flood policies expiring in February and March 2016 for the locations set forth in Exhibit A, terrorism insurance, a surety bond for the Finance Director, a surety bond for certain trustees of the General Employees Retirement Fund, a fuel tax bond, marina hull coverage, marina operators legal liability and medical professional liability.
The aforementioned lines of coverage are currently being marketed by Arthur J. Gallagher under the general terms and conditions of the expiring policies and the premiums are not expected to exceed $125,000.00.
Recommended for inclusion on the agenda by:
Dr. Wazir Ishmael, City Manager
George Keller, Assistant City Manager, Finance/Administration
Raquel Elejabarrieta, Director, Labor Relations