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Res No 097-21-15717RESOLUTION NO. 097-21-15717 A Resolution authorizing the City Manager to purchase Property Insurance including Property and Crime, Boiler and Machinery, General Liability, Law Enforcement Liability, Auto Liability, Public Officials Liability, Employment Practices Liability, Cyber Liability, and Worker's Compensation Insurance from Public Risk Management of Florida (PRM) for Fiscal Year 2021-2022. WHEREAS, the insurance marketplace for Municipalities is limited; and WHEREAS, City staff through World Risk Management, Florida Municipal Insurance Trust, solicited and received independent insurance quotes for Property Insurance including Boiler and Machinery, General Liability Insurance, Automobile Liability and Damage Insurance, Inland Marine Insurance, Crime/Fidelity Insurance, Law Enforcement Liability Insurance and Worker's Compensation Insurance; and WHEREAS, the City is on a two-year rate guarantee with PRM and received a quote in the amount of $611,621 representing a 9.3% increase based on increased property values and anticipated payroll for FY 21-22; and WHEREAS, the City Staff recommends that the City elect coverage with PRM for all of the above listed coverages for 2021-2022 Fiscal Year based upon the current proposal; and WHEREAS, the premium amount shall be charged to departmental line items in their respective account numbers. NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA THAT: Section 1. The foregoing recitals are hereby ratified and confirmed as being true and they are incorporated into this resolution by reference as if set forth in full herein. Section 2. The City Manager is authorized to purchase an insurance policy from PRM for Property Insurance including Boiler and Machinery, General Liability Insurance, Automobile Liability and Damage Insurance, Inland Marine Insurance, Crime/Fidelity Insurance, Law Enforcement Liability Insurance and Worker's Compensation Insurances for the 2021-2022 Fiscal Year. Section 3. Corrections. Conforming language or technical scrivener -type corrections may be made by the City Attorney for any conforming amendments to be incorporated into the final resolution for signature. Page I of 2 Res. No. 097-21-15717 Section 4. Severability. If any section clause, sentence, or phrase of this resolution is for any reason held invalid or unconstitutional by a court of competent jurisdiction, the holding will not affect the validity of the remaining portions of this resolution. Section S. Effective Date. This resolution will become effective immediately upon adoption. PASSED AND ADOPTED this 1711 day of August 2021. ATTEST: APPROVED: 1 CITY dERK MAYOR READ AND APPROVED AS TO FORM, LANGUAGE, LEGALITY, AND EXECUTION THEREOF '-)� %4 ATTORNEY COMMISSION VOTE: 5-0 Mayor Philips: Yea Commissioner Corey: Yea Commissioner Harris: Yea Commissioner Liebman: Yea Commissioner Gil: Yea Page 2 of 2 Agenda item No:8. City Commission Agenda Item Report Meeting Date: August 17, 2021 Submitted by: Samantha Fraga-Lopez Submitting Department: Human Resources Item Type: Resolution Agenda Section: Subject: A Resolution authorizing the City Manager to purchase Property Insurance including Property and Crime, Boiler and Machinery, General Liability, Law Enforcement Liability, Auto Liability, Public Officials Liability, Employment Practices Liability, Cyber Liability, and Worker's Compensation Insurance from Public Risk Management of Florida (PRM) for Fiscal Year 2021-2022. 3/5 (City Manager) Suggested Action: Attachments: Memo Liability Insurance 2021-2022.docx Reso_Liability_lnsurance_2021-2022CArev (2).docx City of South Miami 2021- 2022 P&C Renewal Proposal.pdf CITY OF SOUTH MIAMI South Miami OFFICE OF THE CITY MANAGER THE CITY OF PLEASANT LIVING INTER -OFFICE MEMORANDUM To: The Honorable Mayor & Members of the City Commission VIA: Shari Karnali, City Manager FROM: Samantha Fraga-Lopez, Assistant City Manager DATE: August 17, 2021 SUBJEcT: A Resolution authorizing the City Manager to purchase Property Insurance including Property and Crime, Boiler and Machinery, General Liability, Law Enforcement Liability, Auto Liability, Public Officials Liability, Employment Practices Liability, Cyber Liability, and Worker's Compensation Insurance from Public Risk Management of Florida (PRM) for Fiscal Year 2021-2022. Background: City staff solicited and received through the incumbent, World Risk Management, a proposal from Public Risk Management of Florida (PRM). Staff also solicited a proposal from Florida Municipal Insurance Trust (FMIT) but did not receive a proposal. PGIT also did not provide a proposal. The City currently has coverages with PRM and is on a two- year rate guarantee. The proposal represents a 9.3% increased based on increased property values and estimated payroll. The following table is the breakdown of the coverages and costs offered by PRM: PRM Summary of Proposed Premiums: Property & Crime $203,092 Boiler and Machinery $ 2,272 GL/LEL/AL/E&O/Excess Liability $296,318 Workers' Compensation $ 109,940 OTAL $611,62 Recommendation: City staff recommends the City renew its policy with PRM for its Property Insurance including Property and Crime, Boiler and Machinery, General Liability, Law Enforcement Liability, Auto Liability, Public Officials Liability, Employment Practices Liability, Cyber Liability, and Worker's Compensation Insurance from Public Risk Management of Florida (PRM) for a total premium of $611,621. Attachments: Proposed Resolution PRM Proposal 2 MANgc\ O,cFLOR �P Hl, :,%II.TC1i ,.i THIS DOCUMENT IN ITS ENTIRETY 15 CONFIDENTIAL & PRIVILEGED IN NATURE - NOT FOR PUBLIC RECCD TABLE OF CONTENTS SUBJECT Named Insured Executive Summary Property, Property Terrorism, Property Active Shooter & Crime Proposal General Liability Proposal Auto Liability Proposal Public Officials / Employment Practices Liability PAGE NUMBER 1 2 3 10 11 12 Workers' Compensation 13 Ancillary —Cyber Liability 1s Ancillary/Optional — Boiler & Machinery Proposal 16 Optional - Excess Liability 17 Ancillary/Optional — Pollution & Remediation Legal Liability 18 Ancillary/Optional —Airport Owners & Operators Liability 19 Exposure Change 20 Proposal Pricing & Binding Authority 21 NAMED INSURED CITY OF SOUTH MIAMI 6130 SUNSET DRIVE SOUTH MIAMI, FL 33143 CITY OF SOUTH MIAMI 2021-2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 This proposal contains most terms, conditions, limits and deductibles provided under the program. However, refer to the PRM Coverage Document for specific and complete terms and conditions. WORLD Risk Management A BALLATOR COMPANY 20 NORTH ORANGE, SUITE 500 ORLANDO, FL 32801 PHONE: (407) 445-2414 FAX: (407) 445-2868 TOLL FREE: (888) 501-0014 WORLD Risk Management 1 7 CITY OF SOUTH MIAMI 2021 — 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 EXECUTIVE SUMMARY WHO WE ARE The WRM management team brings over 100 combined years of insurance industry intellectual capital to our clients dedicated to Public Entity Risk Management and insurance solutions. Knowing that broad insurance resources and strong market relationships are essential, along with industry expertise and experience, WRM tactically sought out well -respected industry talent, with solid reputations and stellar track records to join our leadership ranks. WRM is a member of Ballator Insurance Group, formerly Accretive Insurance Services. Ballator provides insurance program development, pool creation and underwriting, pool administration services and insurance placement to both the Public Entity and Non -Profit sectors. WRM employs a highly professional staff that has a proven record of identifying and satisfying client's needs. WRM's team commitment is reflected in a combined risk management knowledge and experience. WHAT WE DO We bring fresh and innovative ideas into the insurance industry. WRM uses our ability of being a "Boutique Broker" to take advantage of the ever -changing insurance market opportunities. WRM has the expertise that most small private agents and brokers do not have, and the large publicly traded brokers cannot take advantage of due to their size and corporate structure. WRM offers clients a thorough and meticulous insurance need analysis, plus delivers competitive cutting -edge products and services from nationally recognized insurance carriers based on realistic and reasonable fee and/or commissions. WRM's dedicated Management/Service Team is recognized throughout the industry for their commitment to providing clients with prompt responses and solutions. OUR REPUTATION WRM's management team has an industry wide reputation for professionalism, quality service, knowledge, and client involvement on a daily basis at all levels, plus a genuine commitment to protect and shield employees and property of public entity groups and other businesses. WRM believes in its ability to lead in the field of risk management and loss management and provide innovative solutions. OUR CORPORATE PARTNERS World Risk Management along with its partner companies' mission is to maintain success through commitment, honest and timely communication, vision innovation and customer satisfaction. RALLATOR INSURANCE GROUP WORLD RISK MANAGEMENT, LLC FIRST FLORIDA INSURANCE BROKERS NON-PROFIT INSURANCE SERVICES UBERTATE INSURANCE, LLC WORLD Risk Management . <y 8 CITY OF SOUTH MIAMI 2021— 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 PROPERTY EXPIRING COVERAGE RENEWAL 1 1 1 1 TO 1 1 1 1 1 1 TO10/01/2022 COMPANY PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA TOTAL INSURED VALUES $27,348,544 $35,648,893 DEDUCTIBLES • ALL OTHER PERILS, EXCEPT: $1,000 ✓ • ALL OTHER FLOOD — PER UNIT $1,000 ✓ FLOOD — ZONEs A&V EXCESS OF N FIP ✓ NAMED WINDSTORM PER UNIT VALUES SHALL APPLY 5% ✓ VALUATION AUTO PHYSICAL DAMAGE ACTUAL CASH VALUE ✓ BUSINESS INCOME ACTUAL LOSS SUSTAINED ✓ COINSURANCE NONE ✓ INLAND MARINE REPLACEMENT COST ✓ PROPERTY REPLACEMENT COST ✓ ASSOCIATION LIMITS ALL PERILS, COVERAGE'S AND INSURED'S/M EMBERS COMBINED— PER OCCURRENCE, SUBJECT TO THE $250,000,000 ✓ FOLLOWING SUB -LIMITS: FLOOD— PER OCCURRENCE ANNUAL AGGREGATE $50,000,000 ✓ FLOOD SUBLIMIT— ANNUAL AGGREGATE - CONTRACTORS EQUIPMENT - FINE ARTS $5,000,000 ✓ LICENSED VEHICLES - UNLICENSED VEHICLES FLOOD SUBLIMIT - PER OCCURRENCE $10,000,000 ✓ - MISCELLANEOUS UNNAMED LOCATIONS EARTHQUAKE SHOCK LIMIT - PER OCCURRENCE & IN THE ANNUAL $50,000,000 ✓ AGGREGATE WIND/HAIL LIMIT PER OCCURRENCE NAMED $100,000,000 ✓ WINDSTORM AUTO PHYSICAL DAMAGE 100%OF $2,500,000 AND 80%OF INCLUDED - ON AND OFF PREMISES $7,500,000 EXCESS OF$2,500,000 $10,000,000 - OVER THE ROAD ♦ PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management . n BARAIDR C0111Idu1 p CITY OF SOUTH MIAMI 2021 — 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST B, 2021 PROPERTY EXPIRING COVERAGE RENEWAL I I 1 1 TO I I • 1 1 I TO10/01/2022 ASSOCIATION SUBLIMITS [NOT ALL INCLUSIVE... ACCIDENTAL CONTAMINATION $250,000/$500,000 ✓ ACCOUNT RECEIVABLES INCLUDED ✓ ANIMALS $56,600 FOR ANY ONE ANIMAL - UNSCHEDULED ANIMALS $250,000 PER OCCURRENCE ASBESTOS CLEAN-UP & REMOVAL (RESULTANT) LIMITED COVERAGE ✓ AUTOMATIC ACQUISITION LIMIT $25,000,000 ✓ AUTOMATIC ACQUISITION LIMIT FOR VEHICLES $10,000,000 ✓ - SPECIAL FLOOD HAZARD AREAS $10,000,000 ANNUAL AGGREGATE BUILDING ORDINANCE ✓ UNDAMAGED PORTION OF BUILDING INCLUDED BUSINESS INTERRUPTION $100,000,000 ✓ Ova AUTHORITv 30 DAYS ✓ WITHIN 10 MILES OF INSURED PREMISE CLAIM PREPARATION EXPENSE $1,000,000 ✓ - CONTINGENT BUSINESS INTERRUPTION $5,000,000 ✓ EXCEPTTAX INTERRUPTION EXCLUDED COURSE OF CONSTRUCTION & ADDITIONS $50,000,000 ✓ EXCLUDES FRAME BUILDERS RISK DEBRIS REMOVAL INCLUDED ✓ DEMOLITION INCLUDED ✓ EARTH MOVEMENT EXCEPT $50,000,000 ANNUAL AGGREGATE VEHICLES, CONTRACTORS EQUIPMENT, $5,000,000 COMBINED AGGREGATE ✓ FINE ARTS COMBINED - ELECTRONIC DATA PROCESSING (EDP) INCLUDED ✓ ERRORS & OMISSIONS $25,000,000 ✓ - EXPEDITING EXPENSE $50,000,000 ✓ - EXTENDED PERIOD OF INDEMNITY 180 DAYS ✓ - EXTRA EXPENSE $50,000,000 ✓ FINE ARTS INCLUDED ✓ UNSCHEDULED FINE ARTS $2,500,000 - FIREFIGHTING EXPENSE INCLUDED ✓ FLOOD EXCEPT $50,000,000 - SPECIAL FLOOD HAZARD AREAS INCLUDED ✓ VEHICLES, CONTRACTORS EQUIPMENT, $5,000,000 COMBINED AGGREGATE FINE ARTS COMBINED I MF ROVEM ENT & BETTERMENT INCLUDED ✓ INCREASED COST OF CONSTRUCTION $25,000,000 ✓ V PER ENPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management . 10 CITY OF SOUTH MIAMI 2021- 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 PROPERTY EXPIRING COVERAGE RENEWAL 1 1 1 1 TO 1 1 1 1 1 1 TO10/01/2022 ASSOCIATION SUBLIMITS [NOT ALL INCLUSIVE... INGRESS & EGRESS 30 DAYS ✓ WITHIN 10 MILES OF INSURED PREMISE - JEWELRY, FURS, & PRECIOUS METALS $500,000 $500,000 ✓ LANDSCAPING, TEES, SAND TRAPS, GREENS, $5,000,000 ATHLETIC GREENS EXCEPT ✓ - UNSCHEDULED LANDSCAPING, TEES, $1,000,000 SAND TRAPS, GREENS, ATHLETIC GREENS - LEASEHOLD INTEREST INCLUDED ✓ - MISCELLANEOUS UNNAMED LOCATIONS $25,000,000 EXCEPT ✓ - SPECIAL FLOOD HAZARD AREAS $10,000,000 ANNUAL AGGREGATE MOLD (RESULTANT) $3S,000 AGGREGATE ✓ MONEY AND SECURITIES $2,500,000 ✓ OFF PREMISES SERVICE INTERRUPTION $2S,000,OOO ✓ INCLUDING EXTRA EXPENSE PERSONAL EFFECTS INCLUDED ✓ PERSONAL PROPERTY OF OTHERS INCLUDED ✓ PERSONAL PROPERTY OUTSIDE THE USA $1,000,000 ✓ PROTECTION AND PRESERVATION OF ✓ PROPERTY INCLUDED PROPERTY OFF PREMISES INCLUDED ✓ SIGNS INCLUDED ✓ TRANSIT $25,000,000 ✓ TUNNELS, BRIDGES, DAMS, CATWALKS - $500,000 ✓ UNSCHEDULED VALUABLE PAPERS AND RECORDS INCLUDED ✓ - WATERCRAFT - UP TO 27 FEET, UNSCHEDULED $250,000 UNSCHEDULED ✓ - OVER 27 FEET, SCHEDULED ALL SCHEDULED INCLUDED EXCLUSIONS [INCLUDING BUT NOT LIMITED TO] - RUST, WET/DRY ROT, LAND & LAND VALUES, COMMUNICABLE DISEASE, PROPERTY CYBER & EXCLUDED ✓ DATA � PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management . 11 CITY OF SOUTH MIAMI 2021 — 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 RATING EXPOSURES PROPERTY.. TO1 > . INSURANCE VALUES 2020 —2021 2021— 2022 TOTAL BUILDING VALUES $20,567,948 $26,277,300 TOTAL CONTENT VALUES $1,276,700 $1,516,700 DECLARED/PROP IN OPEN $1,246,657 $2,739,100 EDP EQUIPMENT (HARDWARE) $0 $432,600 BUSINESS INTERRUPTION/EXTRA EXPENSE $500,000 $500,00 EQUIPMENT VALUES $710,479 $710,479 AUTOMOBILE VALUES —ACTUAL CASH VALUE $3,046,760 $3,472,714 AUTO MOBILE VALUES — REPLACEMENT COST $0 $0 RENTAL VALUES $0 $ MISC;:LLANEOU5 PROPERTY $0 $ TOTAL INSURABLE VALUES 48 4 WORLD Risk Management . 12 CITY OF SOUTH MIAMI 2021 — 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 TERRORISM & SABOTAGE $25,000,000 PER OCCURRENCE $25,000,000 AGGREGATE $25,000,000 PER OCCURRENCE $25,000,000 AGGREGATE DEDUCTIBLE $10,000 $10,000 ASSOCIATION SUBLIMITS [NOT ALL INCLUSIVE] BUSINESS INTERRUPTION SUBLIMIT $93,624,718 ✓ - CIVIL OR MILITARY AUTHORITY SUBLIMIT $1,000,000, 30 DAY(S), AND 1 MILE(S) ✓ - DEBRIS REMOVAL EXPENSES SUBLIMIT $250,000 ✓ DECONTAMINATION COSTS EXCLUDING NCBR SUBLIMIT $250,000 ✓ DEMOLITION & INCREASED COST OF CONSTRUCTION SUBLIMIT $1,000,000 ✓ ERRORS & OMISSIONS SUBLIMIT $250,000 ✓ ELECTRONIC DATA PROCESSING MEDIA SUBLIMIT $1,000,000 ✓ - EXTENDED PERIOD OF INDEMNITY SUBLIMIT $O AND 180 DAY(s) ✓ - FINE ART SUBLIMIT $ 2SO,000 ✓ INGRESS/EGRESS SUBLIMIT $ 1,000,000, 30 DAY(S), AND 1 MILE(S) ✓ PRESERVATION OF PROPERTY SUBLIMIT $ 250,000 ✓ PROFESSIONAL FEES SUBLIMIT $ 250,000 ✓ RELOCATION EXPENSE SUBLIMIT $ 250,000 ✓ SERVICE INTERRUPTION SUBLIMIT $ 1,000,000,30 DAY(S), AND I MILE(S) ✓ TRANSIT SUBLIMIT $ 250,000 ✓ - VALUABLE PAPERS SUBLIMIT $ 250,000 ✓ ACCOUNTS RECEIVABLE SUBLIMIT $ 250,000 ✓ - ASBESTOS SUBLIMIT $ 500,000 ✓ - AUTOMATIC COVERAGE SUBLIMIT $ 1,000,000 AND 30 DAY(S) ✓ COMMISSIONS, PROFITS, & ROYALTIES SUBLIMIT $ 250,000 ✓ DELAY IN STARTUP COSTS SUBLIMIT $ 250,000 ✓ FIRE PROTECTIVE SYSTEMS SUBLIMIT $ 10,000 ✓ - GREEN BUILDING ADDITIONAL EXPENSE SUBLIMIT $250,000 ✓ - KEY & LOCK EXPENSE SUBLIMIT $250,000 ✓ - LANDSCAPING SUBLIMIT $10,000 ✓ - LOSS OF ATTRACTION SUBLIMIT $0, 0 DAY(S), AND 0 MILE(S) ✓ - MISCELLANEOUS UNNAMED LOCATIONS SUBLIMIT $ 1,000,000 AND 30 DAY(S) ✓ NEWLY ACQUIRED LOCATIONS SUBLIMIT $1,000,000 AND 90 DAY(S) ✓ PROPERTY IN COURSE OF CONSTRUCTION SUBLIMIT $1,000,000 - RENTAL INCOME SUBLIMIT $93,024,718 ✓ - SOFT COST SUBLIMIT $10,000 ✓ UNLESS OTHERWISE SPECIFIED, ALL SUB -LIMITS LISTED ABOVE APPLY ON A PER OCCURRENCE BASIS AND ARE A PART OF, AND NOT IN ADDITION TO, THE MUNICIPALITIES TERRORISM AND SABOTAGE LIMIT OF LIABILITY ✓ PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management 13 CITY OF SOUTH MIAMI ACTIVESHOOTER & MALICIOUS ATTACK $1,000,000 PER OCCURRENCE $1,000,000 PER OCCURRENCE $1,000,000 AGGREGATE $1,000,000 AGGREGATE DEDUCTIBLE $10,000 $10,000 AssoCIATION SUBLIMITS [NOT ALL INCLUSIVE] A : ITIONAL SECURITY MEASURES SUBLIMIT $250,000 ✓ COL NSELING SUBLIMIT $250,000 ✓ PUBLIC RELATIONS COSTS SUBLIMIT $250,000 ✓ MIS -ELLANEOUS CRISIS MANAGEMENT EXPENSES $250,000 ✓ SUBiJMIT WAITING PERIOD 0 HOURS ✓ UNLESS OTHERWISE SPECIFIED, ALL SUB -LIMITS LISTED ABOVE APPLY ON A PER OCCURRENCE BASIS AND ARE A PART OF, AND NOT IN ADDITION TO, THE ACTIVE SHOOTER AND MALICIOUS ATTACK LIMIT OF LIABILITY ✓ PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management . LL :E 1 14 CITY OF SOUTH MIAMI DEDUCTIBLE $1,000 ✓ EMPLOYEE THEFT -PER LOSS COVERAGE $500,000 ✓ EMPLOYEE THEFT -PER EMPLOYEE COVERAGE NOT COVERED ✓ FORGERY OR ALTERATION $500,000 ✓ INSIDE PREMISES -THEFT OF MONEY & SECURITIES $500,000 ✓ INSIDE PREMISES -ROBBERY, SAFE BURGLARY - OTHER PROP $500,000 ✓ OUTSIDE THE PREMISES $500,000 ✓ COMPUTER FRAUD $500,000 ✓ FUNDS TRANSFER FRAUD $500,000 ✓ MONEY ORDERS AND COUNTERFEIT PAPER CURRENCY $500,000 ✓ CONDITIONS [NOT ALL INCLUSIVE] FAITHFUL PERFORMANCE OF DUTY INCLUDED INCLUDED ✓ 45 DAY NOTICE OF CANCELLATION/10 DAYS NON-PAYMENT INCLUDED ✓ 60 DAY LOSS REPORT REQUIREMENT INCLUDED ✓ NO MINIMUM EARNED PREMIUM INCLUDED ✓ PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management . SAL WE 121 15 CITY OF SOUTH MIAMI 2021 - 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 IOSAL GENERAL LIABILITY EXPIRING COVERAGE RENEWAL 1 1 1 1 TO 1 1 1 1 1 1 TO10/01/2022 PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA COMPANY COVERAGE FORM OCCURRENCE OCCURRENCE DEDUCTIBLE $0 ✓ LIMIT OF LIABILITY $2,000,000 ✓ COVERAGEr • r EMPLOYEE BENEFIT LIABILITY INCLUDED ✓ LAW ENFORCEMENT LIABILITY INCLUDED ✓ MISCELLANEOUS PROFESSIONAL INCLUDED ✓ [INCLUDINGTERMS • r ASSAULT & BATTERY INCLUDED ✓ BLANKET CONTRACTUAL -HOLD HARMLESS INCLUDED ✓ BODILY INJURY/PROPERTY DAMAGE INCLUDED ✓ EMT/PARAMEDICAL COVERED INCLUDED ✓ FALSE ARREST/IMPRISONMENT INCLUDED ✓ HOST & LIQUOR LIABILITY INCLUDED ✓ INVASION OF RIGHT OF PRIVACY INCLUDED ✓ MALICIOUS PROSECUTION INCLUDED ✓ MENTAL ANGUISH INCLUDED ✓ MENTAL INJURY INCLUDED ✓ PROPERTY IN THE CARE, CUSTODY & CONTROL INCLUDED ✓ COMMUNICABLE DISEASE' $200,000 PER CLAIMANT/$300,000 PER OCC/$300,000 MEMBER AGG/$3,000,000 POOL AGG ✓ EXCLUSIONSr • • AIRCRAFT LIABILITY EXCLUDED ✓ MEDICAL PAYMENTS (NOT LEGAL LIABILITY) EXCLUDED ✓ PRODUCT RECALL, TAMPERING OR GUARANTEE EXCLUDED ✓ WAR, NUCLEAR HAZARDS EXCLUDED ✓ ASSOCIATION AGGREGATE $100,000,000 FOR ALL LIABILITY COVERAGES `LOMMUNICABLE UISEASE SUB -LIMIT 6r AGGREGATES APPLIES TO ALL LIABILITY LOVERAGES LOMBINEO v PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management . 10 M, CITY OF SOUTH MIAMI 2021- 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 AUTO LIABILITY PROPOSAL AGE FORM OCCURRENCE OCCURRENCE TIBLE $0 4LIABILITY COMBINED SINGLE LIMIT $2,000,000 ✓ COVERAGE [INCLUDING BUT NOT LIMITED TO] PERSONAL INJURY PROTECTION STATUTORY ✓ PHYSICAL DAMAGE - COLLISION - COMPREHENSIVE EXCLUDED- COVERED UNDER PROPERTY EXCLUDED- COVERED UNDER PROPERTY ✓ HIRED/BORROWED LIABILITY $2,000,000 ✓ HIRED/BORROWED PHYSICAL DAMAGE INCLUDED ✓ NON -OWNED LIABILITY $2,000,000 ✓ NON -OWNED PHYSICAL DAMAGE INCLUDED ✓ EXCLUSIONS [INCLUDING BUT NOT LIMITED TO] AUTO PHYSICAL DAMAGE EXCLUDED -COVERED UNDER PROPERTY ✓ MEDICAL PAYMENTS EXCLUDED ✓ UNINSURED/UNDERINSURED MOTORIST EXCLUDED ✓ ASSOCIATION AGGREGATE $100,000,000 FOR ALL LIABILITY COVERAGES � PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management . 11 17 CITY OF SOUTH MIAMI 2021— 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 )LOYMENT PRACTICES LIABILITY PROPOSAL PUBLIC OFFICIALS / EMPLOYMENT PRACTICES LIABILITY EXPIRING COVERAGE RENEWAL F F 1 TO 1 1 1 1 TO10/01/2022 PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA COMPANY COVERAGE FORM CLAIMS MADE CLAIMS MADE RETROACTIVE DATE 10/01/2010 10/01/2010 DEDUCTIBLE $0 - ✓ PUBLIC OFFICIALS LIABILITY LIMIT OF LIABILITY $2,000,000 ✓ ANN.JAL AGGREGATE $6,000,000 ✓ EMPLOYMENT PRACTICES LIABILITY LIMIT OF LIABILITY $2,000,000 ✓ ANNJAL AGGREGATE $6,000,000 ✓ NOT LIMITED TO] • BERT HARRIS: RETRD DATE 10/1/2015 $300,000/$300,000 ✓ • INVERSE CONDEMNATION:RETRO DATE 10/O1/2015 $100,000/$100,000 ✓ N]N-MONETARY DAMAGES:10/01/2015 $100,000/$100,000 ✓ COVERAGE [INCLUDING BUT NOT LIMITED TO] ELECTED OFFICIALS, APPOINTED OFFICERS INCLUDED ✓ ERRORS AND OMISSIONS INCLUDED ✓ V ISFEASANCE, MALFEASANCE & NONFEASANCE INCLUDED ✓ NEGLIGENCE INCLUDED ✓ SEXUAL HARASSMENT INCLUDED ✓ • SEXUAL MISCONDUCT RETRD DATE IF INCL EXCLUDED ✓ • WRONGFUL ACTS OF PUBLIC OFFICIALS INCLUDED ✓ COMMUNICABLE DISEASE* $200,000 PER CLAIMANT/$300,000 PER OCC/$300,000 MEMBER AGG/$3,000,000 POOL AGG ✓ BOTH PUBLIC OFFICIALS LIABILITY AND EMPLOYMENT PRACTICES LIABILITY IS SUBJECT TO A PER MEMBER COMBINED AGGREGATE OF $6,000,000 ASSOCIATION AGGREGATE $100,000,000 FOR ALL LIABILITY COVERAGES *COMMUNICABLE DISEASE SUB -LIMIT & AGGREGATES APPLIES TO ALL LIABILITY COVERAGES COMBINED V PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management . 12 18 CITY OF SOUTH MIAMI 2021 - 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 ION PROPOSAL WORKERS' COMPENSATION EXPIRING COVERAGE RENEWAL F F F F• F F F TO10/01/2022 COMPANY PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA DEDUCTIBLE NIL NIL WORKERS' COMPENSATION - MEDICAL STATUTORY ✓ - DISABILITY DEATH EMPLOYERS' LIABILITY - EACH ACCIDENT $2,000,000 ✓ EACH EMPLOYEE FOR DISEASE $2,000,000 ✓ TERMS & CONDITIONS [NOT ALL INCLUSIVE] BROAD FORM ALL STATES INCLUDED ✓ MARITIME COVERAGE ENDORSEMENT INCLUDED ✓ VOLUNTARY COMPENSATION ENDORSEMENT INCLUDED ✓ • JECTTO • ANNUAL POLICY AUDIT- PLEASE NOTE THE 10/01/2021TO 10/01/2022 WC COVERAGE PERIOD WILL BE AUDITED AT A INCLUDED ✓ RATE OF 0.0126668 PER DOLLAR OF PAYROLL ON THE TOTAL WC PREMIUM, BEFORE ANY PARTICIPATION CREDITS ✓ PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management 13 19 CITY OF SOUTH MIAMI 2021-2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 ION PROPOSAL CLASS CODE DESCRIPTION 2020 —2021 ESTIMATED PAYROLL 2021-1 ESTIMATED PAYROLL 5509 STREET OR ROAD PAVING $233,322 $262,368 7720 POLICE OFFICERS & DRIVERS $4,157,100 $4,159,575 8380 AUTOMOBILE SERVICE OR REPAIR CENTER & DRIVERS $150,560 $153,574 8810 CLERICAL OFFICE EMPLOYEES $2,575,080 $2,000,461 9015 BUILDINGS OPERATIONS BY OWNER - ALL OTHER EMPLOYEES $104,809 $105,740 9102 PARK NOC - ALL EMPLOYEES & DRIVERS $777,592 $1,098,691 9403 GARBAGE ASHES OR REFUSE COLLECTION & DRIVERS $329,200 $333,451 9410 MUNICIPAL, TOWNSHIP, O OR STATE EMPLOYEE NOC $260,504 $565,470 TOTAL PAYROLL $8,588,167 $8,679,330 WORLD Risk Management 14 20 CITY OF SOUTH MIAMI 2021— 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 MLITY PROPOSAL CYBER LIABILITY EXPIRING COVERAGE RENEWAL • 1 TO 1 1 F F F TO10/01/2022 GREAT AMERICAN INSURANCE GREAT AMERICAN INSURANCE CARRIER NAMED INSURED PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA COVERAGE FORM CLAIMS MADE CLAIMS MADE RETROACTIVE DATE 10/01/2020 10/01/2020 DEDUCTIBLE $10,000 $10,000 LIMIT OF LIABILITY $1,000,000 ✓ ANNUAL AGGREGATE $10,000,000 POOL AGGREGATE $5,000,000 COVERAGE (INCLUDING BUT NOT LIMITED TO] BUSINESS INCOME/EXTRA EXPENSE INCLUDED ✓ CYBER EXTORTION THREATS INCLUDED ✓ MEDIA LIABILITY INCLUDED ✓ PUBLIC RELATIONS EXPENSE INCLUDED ✓ REPLACEMENT/RESTORATION OF ELECTRONIC DATA INCLUDED ✓ • SECURITY BREACH EXPENSE INCLUDED ✓ • SECURITY BREACH LIABILITY [INCLUDES REGULATORY FINES/PENALTIES AND PCI FINES] INCLUDED ✓ ✓ PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management 15 21 CITY OF SOUTH MIAMI 2021 — 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 OACHINERY PROPOSAL BOILER & MACHINERY EXPIRING COVERAGE RENEWAL TRAVELERS ENERGYMAX 21 TRAVELERS ENERGYMAX21 CARRIER NAMED INSURED PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA DEDUCTIBLES • ALL OBJECTS • TRANSFORMERS 10,000 KVA $1,000 $10,000 ✓ ✓ VALUATION ALL OTHER EQUIPMENT EQUIPMENT 20 YEARS OR OLDER REPAIR AND/OR REPLACEMENT ACTUAL CASH VALUE ✓ ✓ ASSOCIATION LIMITS LIMIT PER ACCIDENT $50,000,000 ✓ ASSOCIATION SUBLIMITS [NOT ALL INCLUSIVE] CONTINGENT BUSINESS INTERRUPTION/EXTRA EXPENSE $250,000 ✓ DEMOLITION/INCREASED COST $1,000,000 ✓ ERRORS IN DESCRIPTION POLICY LIMIT ✓ EXPEDITING EXPENSE POLICY LIMIT ✓ H AZARDOUS SUBSTANCE $2,000,000 ✓ MEDIA $500,000 ✓ NEWLY ACQUIRED LOCATION POLICY LIMIT ✓ ORDINANCE OR LAW INCL. DEMOLITION $1,000,000 ✓ R 3FRIGERANT CONTAMINATION POLICY UMIT ✓ WATER DAMAGE POLICY LIMIT ✓ MAJOR PERILS EXCLUDED EARTHQUAKE EXCLUDED ✓ E = PERILS EXCLUDED ✓ FLOOD EXCLUDED ✓ FREEZE EXCLUDED ✓ FJRNACE EXPLOSION EXCLUDED ✓ LIGHTNING EXCLUDED ✓ PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management WA 22 COMPANY IILITY PROPOSAL— NOT PURCHASED ExCEss LIABILITY CITY OF SOUTH MIAMI 2021-2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 PUBLIC RISK MANAGEMENT OF FLORIDA AUTO LIABILITY EMPLOYMENT PRACTICES LIABILITY GENERAL LIABILITY EMPLOYEE BENEFITS LIABILITY ERRORS & OMISSIONS LIABILITY LAW ENFORCEMENT LIABILITY EMPLOYERS' LIABILITY/WORKERS' POLLUTION LIABILITY EXCLUSION - • ABUSE OR MOLESTATION COMPENSATION HOSTILE FIRE COVERAGE FAILURE TO SUPPLY EXCLUSION- • AIRPORT LIABILITY SILICA OR DUST UTILITIES • ASBESTOS FUNGI OR BACTERIA WAR • AUTOMOBILE FIRST PARTY COVERAGE NURSING HOME WHARFINGERS' LIABILITY PROPERTY DAMAGE EXCLUSION -REAL DAMS, LEVEES, DIKES OR RESERVOIRS AND/OR PERSONAL PROPERTY AUTO LIABILITY $3,000,000 $2,000,000 PER ACCIDENT EMPLOYEE BENEFIT LIABILITY $3,000,000 $2,000,000 PER CLAIM EMPLOYMENT PRACTICES LIABILITY $3,000,000 $2,000,000 PER CLAIM GENERAL LIABILITY INCL. LAW ENFORCEMENT $3,000,000 $2,000,000 PER OCCURRENCE MISCELLANEOUS PROFESSIONAL $3,000,000 $2,000,000 PER CLAIM '$3,000,000 COMBINED EXCESS LIABILITY AGGREGATE APPLIES PER MEMBER FOR EMPLOYEE BENEFITS LIABILITY, PUBLIC OFFICIALS ERRORS & OMISSIONS AND EMPLOYMENT PRACTICES LIABILITY ONLY* ASSOCIATION AGGREGATE $100,000,000 FOR ALL LIABILITY COVERAGES WORLD Risk Management 17 23 CITY OF SOUTH MIAMI 2021 — 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 I & REMEDIATION LIABILITY PROPOSAL— NOT PURCHASED CARRIER POLLUTION AND REMEDIATION LEGAL LIABILITY EXPIRING COVERAGE RENEWAL INDIAN HARBOR INSURANCE CO. INDIAN HARBOR INSURANCE CO. NAMED INSURED PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA COVERAGE FORM CLAIMS MADE CLAIMS MADE RETROACTIVE DATE TBD TBD SELF -INSURED RETENTION $25,000 $25,000 LIMIT OF LIABILITY EACH POLLUTION CONDITION $1,000,000 ✓ TOTAL LIMIT OF LIABILITY ANNUALAGGREGATE $2,000,000 ✓ EMERGENCY REMEDIATION EXPENSE $250,000 ✓ EMERGENCY REMEDIATION EXPENSE AGGREGATE $1,000,000 ✓ COVERAGE (INCLUDING BUT NOT LIMITED TO) • CONTINGENT TRANSPORTATION COVERAGE INCLUDED ✓ • LEGAL DEFENSE EXPENSE INCLUDED ✓ • ON PREMISES & OFF PREMISES REMEDIATION LEGAL LIABILITY INCLUDED ✓ • POLLUTION LEGAL LIABILITY INCLUDED ✓ STORAGE TANKS INCLUDED ✓ PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management 18 24 CITY OF SOUTH MIAMI 2021— 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 OWNERS & OPERATORS LIABILITY PROPOSAL- NOT PURCHASED AIRPORT OWNERS AND OPERATORS LIABILITY EXPIRING COVERAGE RENEWAL 1 1 L 1 TO 10/01/20211 110/01/2022 CARRIER ACE PROPERTY & CASUALTY INSURANCE CO ACE PROPERTY & CASUALTY INSURANCE CO NAMED INSURED PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA FAA ID STATE NAME COVERAGE FORM OCCURRENCE OCCURRENCE DEDUCTIBLE Nit NIL LIMIT OF LIABILITY $2,000,000 ✓ EXTENDED COVERAGE -WAR, HI -JACKING $2,000,OOO ✓ & OTHER PERILS ANNUAL AGGREGATE FIRE DAMAGE LIMIT ANYONE FIRE $100,000 ✓ HANGARKEEPERS NOT "IN FLIGHT" LIMIT $1,000,OOO ✓ ANYONE OCCURRENCE HANGARKEEPERS NOT "IN FLIGHT" LIMIT $1,000,OOD ✓ ANY ONE AIRCRAFT MALPRACTICE ANNUAL AGGREGATE $2,000,000 ✓ MEDICAL EXPENSE LIMIT ANY ONE PERSON $1,000 ✓ NON -OWNED AIRCRAFT LIABILITY $2,000,000 ✓ PERSONAL INJURY AND ADVERTISING $2,000,000 ✓ INJURY ANNUAL AGGREGATE PRODUCTS -COMPLETED OPERATIONS $2,000,000 ✓ ANNUAL AGGREGATE CONDITIONS [NOT ALL INCLUSIVE] 60 DAYS NOTICE OF CANCELLATION, NON - RENEWAL OR REDUCTION IN COVERAGE BY ✓ ✓ INSURER, BUT 10 DAYS NOTICE FOR NOW PAYMENT OF PREMIUM PER EXPIRING CHANGE OR IMPROVEMENT TO EXPIRING WORLD Risk Management 19 25 CITY OF SOUTH MIAMI 2021— 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 EXPOSURE CHANGE ExPOSURE/ 1 1 1 1 PROPERTY TIV $27,348,544 $35,648,893 30.35% NUMBER OF AUTOMOBILES 139 145 4% NUMBER OF EMPLOYEES 125 123 -0.02% TOTAL PAYROLL $8,588,167 $8,679,330 1.06% WORLD Risk Management . 20 26 CITY OF SOUTH MIAMI 2021 - 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9,2021 PRICING BREAKDOWN ExPOSURE F F F F F PRM PROPERTY $27,348,544 $35,648,893 30.35% RATING BASIS: TIV RATE OF INSURANCE .56970 .56970 0% PREMIUM $1SS1805 $203,092 30% PRM BOILER & MACHINERY $21,844,648 $27,794,000 27.23% RATING BASIS: TIV RATE OF INSURANCE .00818 .00818 0% PREMIUM $1,786 $2,272 .28% PRM GL/LEL/AL/E&O $8,588,167 $8,679,330 -0.02% RATING BASIS: PAYROLL RATE OF INSURANCE .03414061 .03414061 0% PREMIUM $293,20S $296,318 .01% PRIM WORKERS' COMPENSATION $8,588,167 $8,679,330 1.06% RATING BASIS: PAYROLL RATE OF INSURANCE 0126668 .0126668 0% PREMIUM $108,785 $109,940 .01% As a condition of joining PRM, the City of South Miami was provided a two-year (2) rate guarantee on all lines of coverage. Rates, not premium, were guaranteed as part of this agreement. Premiums are determined based upon an increase/decrease of City exposures. Additionally, as part of joining PRM, the City was provided a full comprehensive property appraisal at no additional cost. This appraisal determined items that were previously underinsured or not insured at all. As a result, the City's property values have increased by approximately 30% over last year. The increase in property appraisal values is due to a combination of factors including, but not limited to: inflation, increased cost of materials and increased cost of labor. Had the City not taken advantage of the PRM proposal, the City's rates likely would have increased based on the average property market rates in South Florida or 15%. An additional 15% property rate increase would have resulted in approximately an additional $30,000 in property premium versus the PRM offering. WORLD Risk Management . 21 27 CITY OF SOUTH MIAMI 2021- 2022 RENEWAL PROPOSAL PROPERTY & CASUALTY INSURANCE PRESENTED: AUGUST 9, 2021 PROPOSAL PRICING & BINDING AUTHORITY AFTER CAREFUL CONSIDERATION OF THE REFERENCED PROPOSAL, WE ACCEPT YOUR INSURANCE PROGRAM AS INDICATED WITH AN "X" BELOW: PROPERTY & CASUALTY COVERAGES- PRM PROPERTY & CRIME PREMIUM BREAKDOWN E I21 -2022 CHAN YES No $155,805 $203,092 �30% PRM BOILER & MACHINERY $1,786 $2,272 .28% PRM GL/LEL/AL/E&O $293,205 $296,318 .01% PRM WORKERS' COMPENSATION $108,785 $109,940 .01% PREFERRED MEMBER PARTICIPATION CREDIT ON RATE GUARANTEE ON RATE GUARANTEE OPTIONAL/ANCILLARY CYBER LIABILITY INCLUDED INCLUDED POLLUTION LIABILITY N/A N/A AVIATION LIABILITY N/A N/A 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. Member Signature Print Member Name Date SIGNED BINDING AUTHORITY TO BE RETURNED BY 9/15/2021 THIS DOCUMENT IN ITS ENTIRETY IS CONFIDENTIAL & PROPRIETARY IN NATURE - NOT FOR PUBLIC RECORD. WORLD Risk Management . 22 .�, •j