Item C05BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: September 21, 2012 Division: Employee Services
Bulk Item: Yes X No _ Department: Risk Manaizement
Staff Contact Person: Maria L. Slavik x3178
AGENDA ITEM WORDING: Approval to renew policy with the Florida Municipal Insurance Trust
as being proposed by the Florida League of Cities to provide General Liability, Vehicle Liability and
Public Officials/Employee Practices Liability.
ITEM BACKGROUND: The policy provides insurance coverage for sums which the County may
become legally obligated to pay as a result of bodily injury, property damage, or personal injury arising
out of its operations. The policy also provides for reimbursement percentage of legal fees incurred in
the defense of criminal, civil or ethics proceedings.
PREVIOUS REVELANT BOCC ACTION: Coverage was previously bid in 2011 and the BOCC
approved to accept the bid proposal with FMIT. This will be the first renewal of the policy.
CONTRACT/AGREEMENT CHANGES: The League has slightly enhanced the coverage. None of
the enhancements are viewed as being significant. 2.7% reduction in premium.
STAFF RECOMMENDATIONS: Approval to accept proposal from Florida League of Cities at a
cost of $205,957 to be paid in quarterly installments for the period of October 1, 2012 to September 30,
2013. This represents a reduction in premium of $5,682 (2.7%).
TOTAL COST: $205,957 BUDGETED: Yes X No
COST TO COUNTY: $205,957 SOURCE OF FUNDS: Internal Service Fund
Primarily Ad Valorem
REVENUE PRODUCING: Yes _ No X AMOFNT PER MONTH Year
pp
APPROVED BY: County Atty OIVYB:ur/Pasin Risk Mana ement L ,
DOCUMENTATION: Included X Not Required
DISPOSITION:
Revised 2/27/01
AGENDA ITEM #
MONROE COUNTY BOARD OF COUNTY COMMISSIONERS
CONTRACT SUMMARY
Contract with: FMIT #386 Co
Contract #
Effective Date:
10/1/2012
Contract Purpose/Description:
Expiration Date:
9/30/2013
General Liability Insurance Renewal
Contract Manager: Maria Slavik
3178
Risk Management #7
(Name)
(Ext.)
(Department/Stop #)
for BOCC meeting on 9/21/12
Agenda Deadline: 9/6/2011
CONTRACT COSTS
Total Dollar Value of Contract: $ $205,957 Current Year Portion: $ _
Budgeted? YesN No ❑ Account Codes: 503-08502-530-450-
Grant: $
County Match: $
ADDITIONAL COSTS
Estimated Ongoing Costs: $ /yr For:
(Not included in dollar value above) (ecr maintPnanro
CONTRACT REVIEW
213.110
Changes Date Out
Date In Needed JR. viewer
Division Director 2. f Yes❑ No
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O.M.B./PJU ing - ' ) ZYes❑ No® J962LLfbZ a,
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County Attorney \ ` Yes❑ NoE� To/
Comments:
nUR Fnrm T? n�,;eo.i 'f h'1 /n t rnn un
I NTERISK CORPORATION
Consultants
Risk Management
Employee Benefits
August 17, 2012
Ms. Maria Slavik, CPM
Risk Administrator
Monroe County
1100 Simonton St.
Suite 268
Key West, Florida 33040
Subject: Renewal of Liability Insurance
Dear Maria:
1111 North Westshore Boulevard Suite 208
Tampa, FL 33607-4711
Phone (813) 287-1040
Facsimile (813) 287-1041
The County's Excess Liability policy expires on October 1, 2012. The policy, provided by the Florida
Municipal Insurance Trust (Florida League of Cities), provides the following coverages:
➢ Commercial General Liability
➢ Business Automobile Liability
➢ Public Officials and Employment Practices Liability
➢ Automobile Physical Damage for selected vehicles
An overall limit of $5 Million applies to the Commercial General Liability, Business Automobile Liability and
the Public Officials and Employment Practices Liability coverages. A $200,000 Self Insured Retention
(Deductible) applies to each claim. The County's Automobile Physical Damage coverage provides coverage
on an Actual Cash Value (ACV) basis and each claim is subject to a $1,000 deductible. The annual premium
for the County's current policy (10/1/11 to 10/1/12) is $211,639.
The Florida League of Cities has offered to renew the County's policy for the 10/1/12 to 10/1/13 policy
period for an annual premium of $205,957. This represents a reduction in the premium of $5,682 (2.7%).
While the League has slightly enhanced their coverages for the 2012/13 policy period, none of the
enhancements are viewed as being significant.
It is recommended that the County renew its Excess Liability policy for the 2012/13 policy year with the
Florida Municipal Insurance Trust as being proposed by the Florida League of Cities.
Please give me a call if you have any questions or wish to discuss this issue in more detail.
Cordially,
INTERISK CORPORATION
Sidney G. Webber
CPCU, ARM
CC: Teresa Aguiar