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 $79,703.00.
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 Code, 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.
Commission approval is requested as the City has other flood insurance policies with Hartford Fire Insurance Company that exceed the City Manager authority limits.
The coverage provided by Hartford Fire Insurance Company for various locations includes; 1451 Taft St. Clubhouse and Restroom Shelter, 1600 Johnson Street Golf and Country Club, 1621 North 14th Avenue Bar Screen Building, Grit Tank #3 Pump, Grit Tank Pump Room 1 and 2, Influent Pump Station, Main Electrical Service Building, Oxygen Generator Tower Slab, Remote Control Building, Secondary Clarifiers Electrical and Wetair Oxidation Building, 3250 Hollywood Boulevard Police Station, 3401 Hollywood Boulevard Fire Station, 400 Entrada Drive Orangebrook, and 327 Nebraska Street.
The total renewal cost is for a not to exceed amount of $79,703.00.
Fiscal Impact:
Funding for this service is available in the FY 2021 Operating Budget in account number 558.112006.51900.591940.000000.000.000 (Property Insurance). The new premium is 5.7% or $3,920 higher than the previous year.
Recommended for inclusion on the agenda by:
Tammie L. Hechler, Director, Human Resources
George R. Keller, Jr....
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