Item O073
CM
ounty of onroe
BOARD OF COUNTY COMMISSIONERS
Mayor Heather Carruthers, District 3
Mayor Pro Tem George Neugent, District 2
TheFloridaKeys
Danny L. Kolhage, District 1
David Rice, District 4
Sylvia J. Murphy, District 5
County Commission Meeting
April 20, 2016
Agenda Item Number: O.7
Agenda Item Summary #1525
BULK ITEM: DEPARTMENT:
Yes Risk Management
TIME APPROXIMATE:STAFF CONTACT:
Maria Slavik
None
AGENDA ITEM WORDING:
Approval to accept proposal from Marsh USA for Property
Insurance package through Lloyds of London Insurance Company and Landmark American
Insurance Company.
ITEM BACKGROUND:
Provides replacement cost property insurance coverage for county
buildings, contents, communication towers and contractors equipment with a current value of
$230,034,883. Coverage for wind and flood losses limited to $5 million in excess of the limits
provided by the State administered wind program (Citizens) and the National Flood Insurance
Program (NFIP). The maximum limits under the Citizens program are $1 million per building and
maximum limits under the NFIP are $500,000 per building.
PREVIOUS RELEVANT BOCC ACTION:
On April 20, 2011, the BOCC approved the bid proposal with Marsh USA through Lexington
Insurance Company and Landmark American Insurance Company.
CONTRACT/AGREEMENT CHANGES:
Marsh proposed an annual premium of $542,192. This represents a decrease of $54,275, (9.1%) in
the County's annual premium.
DOCUMENTATION:
3/31/16 Proposal for Renewal of Monroe County's Property Insurance
FINANCIAL IMPACT:
Effective Date: 5/1/16
Expiration Date: 5/1/17
Total Dollar Value of Contract:
Total Cost to County: $542,192
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Current Year Portion: $542,192
Budgeted:
yes
Source of Funds: Internal Service Fund/Primarily Ad Valorem
CPI: N/A
Indirect Costs:
Estimated Ongoing Costs Not Included in above dollar amounts: N/A
Revenue Producing: No If yes, amount:
Grant:
N/A
County Match
: N/A
Insurance Required:
N/A
Additional Details:
04/20/16 503-08502 · RISK MGMT INSURANCE $542,192.00
Property Renewal
STAFF RECOMMENDATION:
Approval to renew the policy as submitted by Marsh Insurance
Company for the period of 5/1/16 -5/1/17.
REVIEWED BY:
Maria Slavik Completed 04/04/2016 1:23 PM
Chris Ambrosio Completed 04/04/2016 1:23 PM
Budget and Finance Completed 04/04/2016 4:01 PM
Kathy Peters Completed 04/04/2016 8:56 PM
Board of County Commissioners Pending 04/20/2016 9:00 AM
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