Item C29
BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: March 21-22. 2001
Bulk Item: Yes lL No
Division: Management Services
Department: Administrative ServicesIRisk Management
AGENDA ITEM WORDING: Approval to Advertise Request for Proposals for Excess Liability
Insurance over the County's $100,000 Self-Insured Retention for General, Public Officials and Automobile
Liability Claims,
ITEM BACKGROUND: County Purchasing policy requires competitive bids for insurance every three
years, however, based on the information received from our Risk Consultant, it appears to be in the
County's best interest to go out for competitive bids for the upcoming year. (see letter attached)
PREVIOUS RELEVANT BOCC ACTION: None
STAFF RECOMMENDATION: Approval to Advertise
TOT AL COST:
Unknown
BUDGETED: Yesl No
COST TO COUNTY: Unknown
REVENUE PRODUCING: Yes
No X AMOUNT PER MONTH
YEAR
APPROVED BY: County Atty _ OMBlPurchasing _ Risk Management_
DIVISION DIRECTOR APPROv0J> --=::7 ~k--
James L. Roberts
DOCUMENTATION: Included:.lL- To Follow:
Not Required: _
Agenda Item #: l:(lq
DISPOSITION:
82/14/2~U1 15:88
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I NTERISK CORPORA TION
ConeulWl18
1111 North Westalson: IJe,QI_ard
Suite 208
Tampa. fL 33607-4711
Phone (813) 287-1040
Facsimile (813) 287.1041
Risk Man.meol
Employee Benelite
February 13, 2001
Mr, Wayne Robertson
Risk Manager
Monroe County
5100 College Road, Room 205
Key West, Florida 33040
Re: Florid4 LeogNe of Cities
Dear Wayne;
The Florida League of Cities recently advised that they will Clq)Crience ~ reduction in ils Policy
Holders Sutplus (Net Worth), nus follows a reduction of nearly 545 million last year. The full extent 0(
the reduction will not be known UDtil their actuaries ~nc1ude their review ofthc Tnast's tmdcrwriciog and
invcst1nem results, It is lDticipated that this willllOt be finalized until JUDe or July of this year.
The league has indicated that higher than anticipated Geoera1 L.i.abi1ity and Public 0f8cia1s loaa may
result in higber premiums aDd 1o~'U participation cre4its. Both of these itemS will bave ID advmle effect
on the County's costs for the 200112002 policy year, It is uncertain if the Surplus rcdudiOD will cfIbct the
fi.naDciallIability of the Trusr.
Effective OctOOer 1,2000, the Cowtty selected the Florida League of Cities as its Excess Liability iDIuret
for a period of ODe year with an option to renew the program for ~ (3) ~ ~ at the
discretion of the County. If all three options were exercised, the Cowdy v.wld re-market i1I Excess
LUbillty program for the 20041200~ policy year,
Based on the information regarding the financiJll results of the Leasue. the County may want to ~
re-madtc:ting its program for the 200112002 policy year, Not ooly may the County face ID iDcn:ue in its
iDSUraltQ: oost.s, the filUlnl"i"1 stability of the League has significantly reduced. over the past two years.
While it is anticipaled that the lA:aguc will swvivc and contiDlJIC to be a viable provider ~ ~ for
~ cmities, DO assurances can be offered at this time.
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PAGE 03
Mr. Wayne Robertson
The Florida League of Cities
Februazy 13,2001
Page 2 of2
Normally a more effective program can be developed if insurers an: gWen betwoeJs 90 aDd 120 days [0
review an underwriting submission. It is therefore recommended that if the County elects to obtain
competitive proposals for its 200 1/2002 program the actached timetable be followed.
~ al\\.'3y$, if}'OU have any questions or concerns, please do DOt hesitate to call
Cordially,
INIERISK CORPORATION
~:~
SidneyG. Webber
CPCU, ARM
82/16/2881 14:25
Mid March
March 12 2001
March 19 2001
May 7, 2001
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PAGE 82
MONROE COUNTY
RECOMMENDED TIME TABLE
FOR
RE-MARKETlNG OF EXCESS LIABILITY INSURANCE
Date
Am .
Run Public Notice of the County's intent to
receive com etitive
Distribute RFP
Ass' Markets
Deadline for insurers to submit requests for
additional information
Issue addendum if nea:s
Bid
E"8luation Committed
Finalize evaluation I'
Presentation of recommendations to Board