Title
A Resolution Of The City Commission Of The City of Hollywood, Florida, Authorizing The Appropriate City Officials To Increase The Limits Of The Emergency Medical Technician / Medical Professional Liability Insurance Policy, For An Additional Amount Not To Exceed $11,000.00.
Body
Staff Recommends: Approval of 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 increase the limits of the Emergency Medical Technician “EMT” insurance policy for medical professional liability from $250,000.00 each claim/$500,000.00 aggregate to $1,000,000.00 each claim/$1,000,000.00 aggregate. The current policy is set to expire on October 1, 2019. The current premium cost of $35,235 was approved by the City on September 20, 2018. The increased limits will result in an additional annual premium of $21,350. As the request to adjust the policy and increase the limits is occurring mid-year, the prorated amount of this additional premium will not exceed $11,000.
Funding has been identified and is available in the Fiscal Year 2019 budget in the City’s Self Insurance Fund (Fund 58).
Recommended for inclusion on the agenda by:
Peter Junker, Risk Manager
Tammie L. Hechler, Director of Human Resources
Adam S. Reichbach, Assistant City Manager for Finance & Administration