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