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File #: R-2020-214    Version: 1 Name: 2020 Renewal of Various Flood Policies
Type: Resolution Status: Passed
File created: 8/25/2020 In control: Office of Human Resources
On agenda: 9/16/2020 Final action: 9/16/2020
Title: A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Bind Renewal Policies With Hartford Fire Insurance Company For Flood Insurance For Various Locations, For An Amount Not To Exceed $58,601.00.
Attachments: 1. Resolution 2020 Flood Insurance Renewal Policies.pdf, 2. Back Up 2020 Renewal of Flood Insurance Policies, 2020 Annual Premium.pdf, 3. Back Up 2020 Renewal of Flood Insurance Policies, 2019 Annual Premium.pdf, 4. terinsflood.pdf

Title

A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Bind Renewal Policies With Hartford Fire Insurance Company For Flood Insurance For Various Locations, For An Amount Not To Exceed $58,601.00.

 

 

Strategic Plan Focus

Financial Management & Administration

 

 

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 38.41(C) (10), 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.   

 

The total renewal cost is for a not to exceed amount of $58,601.00

 

 

Fiscal Impact:

The renewal cost includes a 4% premium.  Funding will be budgeted in the FY 2021 Operating Budget in account number 558.112006.51900.591940.000000.000.000 (Property Insurance) subject to approval and adoption by the City Commission.

 

 

Recommended for inclusion on the agenda by:

Tammie L. Hechler, Director, Human Resources

George R. Keller, Jr., Deputy City Manager