R2021-61 Property, Casualty and Worker's Compensation InsuranceRESOLUTION 2021-61
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
NORTH PALM BEACH, FLORIDA, ACCEPTING A PROPOSAL FROM FIRST
FLORIDA INSURANCE BROKERS TO PROVIDE PROPERTY, CASUALTY
AND WORKERS' COMPENSATION INSURANCE THROUGH PUBLIC RISK
MANAGEMENT OF FLORIDA AND AUTHORIZING VILLAGE
ADMINISTRATION TO TAKE ALL ACTIONS NECESSARY TO
IMPLEMENT SUCH COVERAGE; PROVIDING FOR CONFLICTS; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the Village. is currently a member of the Public Risk Management of Florida risk
management and self-insurance pool for property and casualty coverage; and
WHEREAS, Village Staff received a proposal from First Florida Insurance Brokers ("FFIB") for
property, casualty and workers' compensation insurance through Public Risk Management of
Florida for Fiscal Year 2022; and
WHEREAS, the Village Council determines that the adoption of this Resolution, including the
waiver of any conflicting purchasing policies and procedures, is in the best interests of the Village
and its residents.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM
BEACH, FLORIDA as follows:
Section 1. The foregoing recitals are hereby ratified and incorporated herein.
Section 2. The Village Council hereby accepts the proposal submitted by First Florida
Insurance Brokers for property, casualty and workers' compensation insurance through Public
Risk Management of Florida for Fiscal Year 2022 at a total estimated annual cost of $755,962.00.
The Village Council further authorizes and directs Village Administration to take all actions
necessary to implement such coverage.
Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to
the extent of such conflict.
Section 4. This Resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED THIS 22NDDAY OF JULY, 2021.
(Village Seal)
ATTEST:
� J
JVILLAGE CLERK
A /?./u 0 (] "",-
AYOR
VILLAGE OF NORTH PALM BEACH
PROPERTY & CASUALTY RENEWAL PROPOSAL
PACKAGE PROPOSAL PRICING & BINDING AUTHORITY OCTOBER 1, 2021 TO OCTOBER 1, 2022
After careful consideration of reference proposal dated July 7, 2021,
we accept your insurance program per indicated with and "X" below:
PAYMENT PLAN: PRM ALLOWS THEIR MEMBERS TO PAY THEIR TOTAL COSTS IN FOUR (4) QUARTERLY INSTALLMENTS. THE FIRST INSTALLMENT IS
DUE AT INCEPTION AND IS EQUAL TO 25% OF ALL COSTS. THE REMAINING COSTS WILL BE PAID OVER THE NEXT THREE (3) QUARTERS.
THIS WARRANTS THAT YOU HAVE NO KNOWLEDGE OF ANY CLAIM, OR INCIDENT THAT MAY RESULT IN A CLAIM, THAT HAS NOT BEEN REPORTED TO
THE INSURANCE CARRIER.
IT IS UNDERSTOOD AND AGREED THAT REFERENCED PROPOSAL PROVIDES ONLY A SUMMARY OF THE INSURANCE PROGRAM OPTIONS OFFERED. THE
ACTUAL POLICIES WILL CONTAIN THE COMPLETE TERMS, CONDITIONS, DEDUCTIBLES, EXCLUSIONS, ETCETERA. PLEASE REVIEW POLICY LANGUAGE FOR
A FULL UNDERSTANDING OF PURCHASED PROGRAM.
-22-2(
Member Signature Date
Print Member Name
*SIGNED BINDING AUTHORITY TO BE RETURNED BY 07/30/2021
THIS DOCUMENT IN IT'S ENTIRELY IS CONFIDENTIAL & PROPRIETARY IN NATURE - NOT FOR PUBLIC RECORD.
Creating Unique Risk Solutions
FFIB
Page 120 First Florida Insurance Brokers
A B-A'iA C01-i'lY
2020/2021 1 % Change
%
$206,116 $209,891 1.83%
1
$789,251 I
P RM PROPERTY AND CRIME
I (5.77%)
PRM GL/AL/E&O/LEL & EXCESS LIABILITY
$185,167
$185,704
.29%
PRM BOILER & MACHINERY
$3,206
$3,540
10.42%
GRAND TOTAL
$799,251 j$753,748
I i(I
PRM Workers Compensation
$394,762 (PGIT)
$344,613
(12.70%)
PAYMENT PLAN: PRM ALLOWS THEIR MEMBERS TO PAY THEIR TOTAL COSTS IN FOUR (4) QUARTERLY INSTALLMENTS. THE FIRST INSTALLMENT IS
DUE AT INCEPTION AND IS EQUAL TO 25% OF ALL COSTS. THE REMAINING COSTS WILL BE PAID OVER THE NEXT THREE (3) QUARTERS.
THIS WARRANTS THAT YOU HAVE NO KNOWLEDGE OF ANY CLAIM, OR INCIDENT THAT MAY RESULT IN A CLAIM, THAT HAS NOT BEEN REPORTED TO
THE INSURANCE CARRIER.
IT IS UNDERSTOOD AND AGREED THAT REFERENCED PROPOSAL PROVIDES ONLY A SUMMARY OF THE INSURANCE PROGRAM OPTIONS OFFERED. THE
ACTUAL POLICIES WILL CONTAIN THE COMPLETE TERMS, CONDITIONS, DEDUCTIBLES, EXCLUSIONS, ETCETERA. PLEASE REVIEW POLICY LANGUAGE FOR
A FULL UNDERSTANDING OF PURCHASED PROGRAM.
-22-2(
Member Signature Date
Print Member Name
*SIGNED BINDING AUTHORITY TO BE RETURNED BY 07/30/2021
THIS DOCUMENT IN IT'S ENTIRELY IS CONFIDENTIAL & PROPRIETARY IN NATURE - NOT FOR PUBLIC RECORD.
Creating Unique Risk Solutions
FFIB
Page 120 First Florida Insurance Brokers
A B-A'iA C01-i'lY
PREMIUM TOTAL:
$789,251 I
$743,748
I (5.77%)
Agent's Fee
$10,000
$10,000
GRAND TOTAL
$799,251 j$753,748
Fyber Liability
Included
Included
PAYMENT PLAN: PRM ALLOWS THEIR MEMBERS TO PAY THEIR TOTAL COSTS IN FOUR (4) QUARTERLY INSTALLMENTS. THE FIRST INSTALLMENT IS
DUE AT INCEPTION AND IS EQUAL TO 25% OF ALL COSTS. THE REMAINING COSTS WILL BE PAID OVER THE NEXT THREE (3) QUARTERS.
THIS WARRANTS THAT YOU HAVE NO KNOWLEDGE OF ANY CLAIM, OR INCIDENT THAT MAY RESULT IN A CLAIM, THAT HAS NOT BEEN REPORTED TO
THE INSURANCE CARRIER.
IT IS UNDERSTOOD AND AGREED THAT REFERENCED PROPOSAL PROVIDES ONLY A SUMMARY OF THE INSURANCE PROGRAM OPTIONS OFFERED. THE
ACTUAL POLICIES WILL CONTAIN THE COMPLETE TERMS, CONDITIONS, DEDUCTIBLES, EXCLUSIONS, ETCETERA. PLEASE REVIEW POLICY LANGUAGE FOR
A FULL UNDERSTANDING OF PURCHASED PROGRAM.
-22-2(
Member Signature Date
Print Member Name
*SIGNED BINDING AUTHORITY TO BE RETURNED BY 07/30/2021
THIS DOCUMENT IN IT'S ENTIRELY IS CONFIDENTIAL & PROPRIETARY IN NATURE - NOT FOR PUBLIC RECORD.
Creating Unique Risk Solutions
FFIB
Page 120 First Florida Insurance Brokers
A B-A'iA C01-i'lY