1To:
Via:
From:
Date:
CITY OF SOUTH MIAMI
OFFICE OF THE CITY MANAGER
INTER-OFFICE MEMORANDUM
The Honorable Mayor & Members of the City Commission
Steven Alexander, City Manager
LaTasha Nickle, Human Resources Director
September 25,2013 Agenda Item No.:L
South Miami
hOd imp
2001
Subject: Workers' Compensation Insurance
Request: A Resolution authorizing the City Manager to execute the renewed policy with the
Florida League of Cities, through the Florida Municipal Insurance Trust (FMIT)
for Workers' Compensation Insurance.
ReasonlNeed: The City solicited and received proposals for the City's Workers' Compensation,
Insurance coverage for FY 2013-2014 from carriers currently writing municipal business
in South Florida. The City's present carrier, the Florida League of Cities, through the
Florida Municipal Insurance Trust proposes to renew the City's existing coverage for a
total premium of $203,756. This represents a reduction from the prior fiscal years'
premium of $229,796.
FMIT's competitor, Preferred Governmental Insurance Trust did not provide a proposal
for Workers' Compensation coverage. FMIT offers the most competitive rates for
Workers' Compensation Insurance. The City continues to receive the company's
preferred rating because of the continuing coverage, including a 5% credit for its Drug
Free Work Place policy and a 2% credit for its Safety Policy.
The City Manager recommends that the City renew its Workers' Compensation policy
with FMIT.
Backup Documentation:
Cl Proposed resolution.
Cl Renewal Quote from FMIT
1 RESOLUTION NO. ____ _
2 A Resolution authorizing the City Manager to execute the renewed policy
3 with the Florida League of Cities, through the Florida Municipal Insurance
4 Trust (FMIT) for Workers' Compensation Insurance.
5 WHEREAS, the City has received insurance quotes for Workers' Compensation
6 Coverage.
7 WHEREAS The City received a renewal quote from FMIT for the continuation of the
8 existing coverage, but received no other proposals for the necessary coverage;
9 WHEREAS, the City Administration recommends that the City continue coverage with
10 the Florida League of Cities through FMIT for Workers' Compensation Coverage for the 2013-
11 2014 Fiscal Year based upon the current proposal;
12 NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY
13 COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA THAT:
14 Section 1. That the City Commission hereby authorizes the City Manager to execute
15 the renewal insurance policy for Workers' Compensation with FMIT for the 2013-2014
16 Fiscal Year.
17
18
19
20
21
Section 2. This resolution shall take effect immediately upon adoption.
22 PASSED AND ADOPTED this __ day of ____ , 2013.
23
24
25 ATTEST: Approved:
26
27
28 CITY CLERK MAYOR
29
30 READ AND APPROVED AS TO FORM COMMISSION VOTE:
31 LANGUAGE, EXECUTION AND Mayor Stoddard:
32 LEGALITY: Vice Mayor Liebman:
33 Commissioner Newman:
34 Commissioner Harris:
35 Commissioner Welsh:
36
37
38 CITY ATTORNEY
Department of Insurance and Financial Services
FLORIDA MUNICIPAL INSURANCE TRUST
WORKERS' COMPENSATION AND EMPLOYERS' LIABILITY
Renewal Quote for 2013-2014
City of South Miami
LIMIT OF LIABILITY:
Workers' Compensation: Statutory
Employers'Liability: $1,000,000 Each Accident
$1,000,000 By Disease
$1,000,000 Aggregate by Disease
Deductible: $0
Total Payroll: $7,531,670
*Drug Free Workplace Credit (5%) Yes
*Safety Credit (2%) Yes
Experience Modification 10/1/13 1.04
NET PREMIUM: $203,756
Premium calculation includes 5% Drugfree Credit and 2% Safety Credit -Requires receipt of approved applications.