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Home My WebLink AboutDocumentation_Regular_Tab 19_09/13/2012 VILLAGE CLERK'S OFFICE AGENDA ITEM TRANSMITTAL FORM Meeting Date: Meeting Type: Regular Ordinance #: 9/13/2012 Consent Agenda: No Resolution #: Originating Department: Human Resources AGENDA IT'EM TITLE: (Wording form the SUBJECT line of your staff report) Approval for the renewal of a 1-year agreement with the Florida Municipal Insurance Trust (FMIT) for Property, Liability, Automobile and Workers' Compensation BUDGET / FINANCIAL IMPACT: Account #: Various Amount of this item: $322,070 Current Budgeted Amount Available: Amount Remaining after item: $322,070 budgeted for FY2012-13 $0.00 Budget Transfer Required: No Appropriate Fund Balance: No DCECUIIYE SUMMARY OF MAJOR ISSUES: (This is a snap shot description of the agenda item) Consideration and approval of $322,070 for Property and Casualty Insurance for FY2012/13. APPROVALS: SIGNATURE: Department Head %� ' '' � ��, Finance Director ' � Reviewed for Financial Sufficiency Li] � �� ; �„ , No Financial Impact ❑ -- Attorney: (for legal sufficiency) See attached Village Manager: Submit for Council Discussion: [�� _ , Approve Item: ❑ Deny Item: � _. SPECIAL INSTRUCTIONS FOR CLERK: ('rf you wish to have agreements signed, be sure to includ8 the number of copies you want signed and place "Sign Here" sticker on them) Form Amended: 10/20/11 . • � Memo To: Michael R Couzzo, Jr., Village Manager From: Merlene Reid, HR Director ✓ r ! •` � �,�, Date: August 27, 2012 Re: Property & Casualty Insurance Renewals 2012/13 I have attached the Florida Municipal Insurance Trust (FMIT) Property and Casualty Evaluation schedule, prepared by our Brokers, The Gehring Group, which shows a 4.9% increase of $14,182.00 in insurance premiums (inclusive of broker fees), up from $307,552 in FY2011 /12, to $321,570 for the upcoming 2012/13 Fiscal year (Exhibit A). The increase is due to the 12.3% increase of $14,513 in workers' compensation premium, attributable to 3 onqoinq larqe claims which have moved our current experience ratinq to 1.13, alonq with an estimated 3% qavroll increase for FY2012/13. The costs of the other lines of insurance (property, general liability and automobile) also covered by FMIT, have offset each other. The minimal savings quoted (at our request) for increased deductible levels on these lines were not worth the significant exposure to the Village. The Village retains a total of 7% credit for actively maintaining its Safety program (2%) and enforcing its drug free work �lace policy (5%). We will also receive a minimum refund of premium of $15,675 in the 2" quarter of this year. In addition to the premium of to $321,570 outlined, a further $500 is being requested to cover the premium for 1 new car in the Police department, making a total of $322,070. Based on the foregoing analysis, I am recommending that the Village renews the 2012/13 insurance with the Florida Municipal Insurance Trust (FMIT), with a view to going out to bid in the following year. EXHIBIT A VILLAGE OF TEQUESTA FMIT PROPERTY & CASUALTY EVALUATION $2,500 Deductible 2012-2013 FISCAL YEAR � � �9�rent ��:�ewal . � � � � Coverege Type Deductible Liability Limits Premium Deductible Liabflity Llmits Premium Property $ 100,000 $ 15,236,352 �$ 58,451 $ 100,000 5 15,286,829 $ 61,316 4.9°.6 * - -- - - __ _-- -- ---------- -- --- "5°� TIV Wind "5%TIV Wind Deductibie Deductible Inciuded in FMIT Included in FMIT Iniand Marine $500/$5,000 Per Schedule Premium $500/$5,000 Per Schedule Premium General Liability $ 2,500 $ 2,000,000 $ 35,386 $ 2,500 $ 2,000,000 $ 33,707 -4.7°� Public Official Liability & Employment Practices Liability $ 2,500 $ 2,000,000 $ 27,868 $ 2,500 $ 2,000,000 $ 27,681 -0.7% Law Enforcement Liability $ 2,500 $ 2,000,000 $ 26,813 $ 2,500 $ 2,000,000 $ 24,350 -9Z% Auto Liability $ 2,500 $ 2,000,000 $ 19,663 $ 2,500 $ 2,000,000 $ 19,821 0.8°.G Personal Injury Protection N/A $ 10,000 N/A $ 10,000 Medical Payments N/A $ 5,000 N/A $ 5,000 Physical Damage Comprehensive Coverege $ 1,000 Pe r Schedule $ 6,833 $ 1,000 Per Schedule $ 6,97 2.1% Physical Damage Collision Coverage $ 1,000 Per Schedule Included $ 1,000 Per Schedule Included Workers' Compensation Experience Modification Factor 0.98 Payroll 1.13 Payroll $ 5,323,287 $ 117,893 $ 5,788,950 $ 132,406 123% Total Annual Premium: $ 292,907 $ 306,257 Service Fee: $ 14,645 $ 15,313 Total Net Premium: $ 307,552 $ 321,570 Return Of Premium Credit $ (15,839) $ (15,675) Adjusted Total Annual Premium: $ 291,713 $ 305,895 $ Increase or Decrease: N/A $ 14,182 % I�crease or Decrease: N/A 4.9% Gehring Group receives a 5% Service Fee on all FMIT products *Windstorm Deductible is 59'0 of the Totai Insured Value Per Building Per Ocarrence, subject to policy deducti6le, whichever is greater CrE� ��NG��G Return of Premium Credit Minimum $15,675. Credit will be applied towards 2nd instaliment billing. � � Reid, Merlene From: Timothy McPherson [tmcpherson@jupiter.fl.us] Sent: Monday, August 27, 2012 10:43 AM To: 'Sheryl Stewart'; Reid, Merlene Subject: Employee Clinic Meeting Our meeting today will be held in the First Floor Conference Room at Town Hal! (210 Military Trail). Enter through the main doors and tell our greeters you are here for the HR Meeting and they will get you id badges and direct you to the room. Look forward to seeing you all. TI M Tim McPherson Acting Manager of Human Resources & Risk Management Town of Jupiter 210 Military Trail Jupiter, FL 33458 Office : 561-741-2393 Fax : 561-745-1531 tmcpherson@iupiter.fl.us PLEASE NOTE: Florida has a very broad public records law. Most written communications to or from the Town of Jupiter officials and employees regarding public business are public records available to the public and media upon request. Your e-mail communications may be subject to public disclosure. Under Florida law, e- mail addresses are public records. If you do not want your e-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing This message has been scanned for malware by Websense. www.websense.com i Reid, Merlene From: Keith Davis [KeithC�corbettandwhite.com] Sent: Monday, August 27, 2012 10:48 AM To: Reid, Merlene Subject: RE: AGENDA ITEM - Property & Casualty 2012/13 Approved for legal sufficiency. Keith W. Davis, Esquire �� Tel: (561) 586-7116 Faa�: (561) 586-9611 Email: keith @ corbettandwhite.com From: Reid, Merlene [mailto:mreidCa�tequesta.org] Sent: Monday, August 27, 2012 9:40 AM To: Forsythe, Jody Cc: McWilliams, Lori; Gload, Michelle; Keith Davis Subject: AGENDA ITEM - Property & Casualty 2012/13 Jody, , Original has been sent over to you for your signature. Keith — can you review for legal sufficiency. Thanks Merlene Merlene Reid, M.S., SPHR Human Resources Director Village of Tequesta 345 Tequesta Drive Tequesta, FL 33469-3062 Tel: (561J 768-0415 Fax: (561 J 768-0697 IMPORTANT.• The contents of this email and any attachments are confidential. They are intended for the named recipient(s) only. If you have received this email in error, p/ease notify the system manager or the sender immediate/y and do not disc/ose the contenfs to anyone or make copies thereof. *** eSafe scanned this email for viruses, vandals, and malicious content. *** 1