Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Accept A Two-Year Fixed Rate Group Life And AD&D Insurance Policy Between Symetra Life Insurance Company And The City Of Hollywood For Group Life And AD&D Insurance Coverage For An Amount Not To Exceed 110% Of $408,209.00.
Body
Staff Recommends: Approval of the attached Resolution
Explanation:
A Request was made to the City’s Benefits Consultant, the Gehring Group, to market continued Life and AD&D Insurance coverage for City employees and retirees. Gehring negotiated a renewal for 2019 with Symetra Life Insurance Company, (the City’s current Life and AD&D insurer), with only a 9.8% increase in premium cost. Therefore, the attached Resolution seeks City Commission authorization to accept a two-year fixed rate group life and AD&D insurance policy between Symetra Life Insurance Company and the City of Hollywood, for Group Life and AD&D insurance coverage for a not to exceed amount of 110% of $408,209.00.
Recommended for inclusion on the agenda by:
Dr. Wazir Ishmael, City Manager
Adam Reichbach, Assistant City Manager for Finance & Administration
Tammie L. Hechler, Director of Human Resources