Res No 098-23-16031RESOLUTION NO. 098-23-16031
A RESOLUTION OF THE MAYOR AND CITY
COMMISSION OF THE CITY OF SOUTH MIAMI,
FLORIDA, AUTHORIZING THE CITY MANAGER TO
ENGAGE PUBLIC RISK MANAGEMENT OF FLORIDA
FOR PROPERTY AND CASUALTY INSURANCE
SERVICES FOR FISCAL YEAR 2023-2024; PROVIDING
FOR IMPLEMENTATION, CORRECTIONS, AND AN
EFFECTIVE DATE.
WHEREAS, the City is in need of essential property and casualty insurance services for
the 2023-2024 Fiscal Year ("Services") on an expedient basis to maintain continuous coverage;
and
WHEREAS, the City, solicited proposals from various property and casualty insurance
providers and received proposals from Public Risk Management of Florida ("PRM") and Preferred
Governmental Insurance Trust ("PGIT"); and
WHEREAS, Section 5.H. of Article III, of the City's Charter, provides that competitive
bids are not applicable to the purchase of expert services that are approved by the City
Commission; and
WHEREAS, based upon the proposals and City Staff recommendation on the most
beneficial plans available, the City Commission desires to direct the City Manager to engage the
firm of PRM for the Services, and approve the proposal from PRM, attached hereto as Exhibit
"At in the amount of $724,251 for Fiscal Year 2023-2024; and
WHEREAS, the City Commission further desires to authorize the City Manager to execute
any necessary agreements with PRM for the Services; and
WHEREAS, the premium amount shall be paid from various line items from various
departments, as applicable, and charged to their respective account numbers; and
Page 1 of3
Res. No. 098-23-16031
WHEREAS, the City Commission finds that this Resolution is in the best interest and
welfare of the City and its residents.
NOW THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA, AS FOLLOWS:
Section 1. Recitals. The above-stated recitals are true and correct and are incorporated
herein by this reference.
Section 2. Authorizing City Manager to Engage PRM for the Services. The City
Commission hereby authorizes the City Manager to engage PRM for the Services and approves
the proposal from PRM, attached hereto as Exhibit "A," in the amount of$724,251 for Fiscal Year
2023-2024. The premium amount shall be paid from various line items from various departments,
as applicable, and charged to their respective account numbers, with the majority of the premium
paid from the Personnel Division's Liability Insurance line item: 001-1330-513-4510.
Section 3. Authorization. The City Manager is hereby authorized to enter into any
necessary agreements with PRM for the Services, subject to the approval of the City Attorney as
to form and legal sufficiency.
Section 4. Implementation. The City Manager is hereby authorized to take any and
all necessary action to implement the purposes of this Resolution.
Section 5. 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.
Section 6. Effective Date. This Resolution shall become effective immediately upon
adoption.
Page 2 of 3
Res. No. 098-23-16031
PASSED AND ADOPTED this 15 th day of A ugus t, 2023.
ATTEST:
CI~oft
READ AND APPROVE D AS TO FORM,
LANGUAGE, LEGALITY AND
EXECUTION THEREOF
' CITY ATTORNEY
W..YOR
-----
COMM ISS ION VOTE:
Mayor Fe rnandez:
V ice Mayor Bonich:
Commi ssione r Call e:
4-0
Yea
out of room
Yea
Commissioner L ie bma n: Yea
Commissioner Corey: Yea
Page 3 of 3
Agenda Item No:3.
City Commission Agenda Item Report
Meeting Date: August 15, 2023
Submitted by: Samantha Fraga-Lopez
Submitting Department: City Manager
Item Type: Resolution
Agenda Section:
Subject:
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA,
AUTHORIZING THE CITY MANAGER TO ENGAGE PUBLIC RISK MANAGEMENT OF FLORIDA FOR
PROPERTY AND CASUALTY INSURANCE SERVICES FOR FISCAL YEAR 2023-2024; PROVIDING FOR
IMPLEMENTATION, CORRECTIONS, AND AN EFFECTIVE DATE. 3/5 (CITY MANAGER-HUMAN
RESOURCES)
Suggested Action:
Attachments:
Memo_Liability_Insurance_2023-2024.docx
4721174_Insurance_Services.docx
South Miami 2023 - 2024 P&C Renewal Proposal 7-14-23 PROPOSED.pdf
1
CITY OF SOUTH MIAMI
OFFICE OF THE CITY MANAGER
TO:The Honorable Mayor, Vice Mayor, and Members of the City Commission
FROM:Genaro “Chip” Iglesias, City Manager
DATE:August 15, 2023
SUBJECT:Liability Insurance FY 23-24.
RECOMMENDATION:Staff recommends purchasing 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 2023-2024.
Background:City staff solicited and received a proposal from Public Risk Management
of Florida (PRM). Staff also solicited a proposal from Florida Municipal
Insurance Trust (FMIT) and Preferred Governmental Insurance Trust
(PGIT). A proposal from FMIT was not received.PGIT’s proposal was
approximately $68k higher than PRM’s proposal and represented higher
deductibles almost across the board. There is a limited market offering the
necessary various insurance coverages to municipalities.
PRM has been the City’s carrier since 2020 and has worked well in
addressing the City’s needs in a timely and professional manner. The PRM
proposal represents an 8.34% increase,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 $301,299
Equipment Breakdown $ 3,110
GL/LEL/AL/E&O/Excess Liability $315,931
Workers’ Compensation $ 114,941
Preferred Member Credit -$11,029
TOTAL $724,251
2
CITY OF SOUTH MIAMI
OFFICE OF THE CITY MANAGER
Funding:The total premium of $724,251 will be paid from various line items from
several departments, with the majority of the premium paid from the
Personnel Division’s Liability Insurance line item: 001-1330-513-4510.
Attachments:Proposed Resolution
PRM Proposal
3
CITY OF
2019-2020 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
DATA
CITY OF
SOUTH MIAMI
Renewal Proposal For
Property & Casualty Insurance Coverage
Effective: 10/01/2023
Expiration: 10/01/2024
THIS DOCUMENT IN ITS ENTIRETY IS CONFIDENTIAL &
PRIVILEGED IN NATURE – NOT FOR PUBLIC RECORD 7
CITY OF
2019-2020 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
DATA
SUBJECT PAGE NUMBER
Named Insured 1
Executive Summary 2
Property, Property Terrorism, Property Active Shooter & Crime
Proposal 3
Ancillary – Equipment Breakdown Proposal 9
General Liability Proposal 10
Auto Liability Proposal 11
Public Officials / Employment Practices Liability 12
Optional - Excess Liability 14
Workers’ Compensation 15
Ancillary – Cyber Liability 17
Ancillary/Optional – Pollution & Remediation Legal Liability 18
Ancillary/Optional – Airport Owners & Operators Liability 19
Exposure Change 20
Proposal Pricing & Binding Authority 21 TABLE OF CONTENTS
8
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
1
NAMED INSURED
NAMED INSURED AND MAILING ADDRESS
CITY OF SOUTH MIAMI
6130 SUNSET DRIVE
SOUTH MIAMI, FL 33143
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.
PREPARED BY
20 NORTH ORANGE AVE, SUITE 500
ORLANDO, FL 32801
PHONE: (407) 445-2414
FAX: (407) 445-2868
TOLL FREE: (888) 501-0014
9
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
2
EXECUTIVE SUMMARY
WHO WE A RE
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, an Accretive Insurance Solutions company. 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 through out the industry for their
commitment to providing clients with prompt responses and solutions.
O UR R EPUTATION
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.
O UR C ORPORATE 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.
BALLATOR INSURANCE GROUP
WORLD RISK MANAGEMENT
FIRST FLORIDA INSURANCE BROKERS
NON-PROFIT INSURANCE SERVICES
LIBERTATE INSURANCE
10
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
3
PROPERTY PROPOSAL
PROPERTY
EXPIRING COVERAGE
10/01/2022 TO 10/01/2023
RENEWAL
10/01/20 23 TO 10/01/2024
COMPANY PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA
TOTAL I NSURED VALUES $36,993,534 $38,199,609
DEDUCTIBLES
▪ ALL OTHER PERILS, E XCEPT:
▪ ALL OTHER FLOOD – PER UNIT
▪ FLOOD – ZONES A&V
▪ NAMED WINDSTORM PER UNIT VALUES SHALL APPLY
$1,000
$1,000
EXCESS OF NFIP
5%
VALUATION
▪ AUTO PHYSICAL DAMAGE
▪ BUSINESS INCOME
▪ COINSURANCE
▪ INLAND MARINE
▪ P ROPERTY
ACTUAL CASH VALUE
ACTUAL LOSS SUSTAINED
NONE
REPLACEMENT COST
REPLACEMENT COST
ASSOCIATION LIMITS
ALL PERILS , COVERAGE’S AND INSURED’S /MEMBERS
COMBINED – PER OCCURRENCE, SUBJECT TO THE
FOLLOWING SUB -LIMITS:
$250,000,000
- FLOOD – PER OCCURRENCE ANNUAL AGGREGATE $50,000,000
- FLOOD SUBLIMIT – ANNUAL AGGREGATE
- CONTRACTORS E QUIPMENT
- FINE ARTS
- LICENSED VEHICLES
- UNLICENSED VEHICLES
$5,000,000
- FLOOD SUBLIMIT
- PER OCCURRENCE
- MISCELLANEOUS UNNAMED LOCATIONS
$10,000,000
- E ARTHQUAKE SHOCK LIMIT
- PER OCCURRENCE & IN THE ANNUAL
AGGREGATE
$50,000,000
- WIND/HAIL LIMIT PER OCCURRENCE N AMED
WINDSTORM $100,000,000 $80,000,000
- AUTO PHYSICAL DAMAGE
- ON AND OFF PREMISES
- OVER THE ROAD
INCLUDED
$10,000,000
✓ P ER EXPIRING
CHANGE OR IMPROVEMENT TO E XPIRING
11
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
4
PROPERTY PROPOSAL
PROPERTY
EXPIRING COVERAGE
10/01/2022 TO 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
ASSOCIATION SUBLIMITS [NOT ALL INCLUSIVE…]
- ACCIDENTAL CONTAMINATION $250,000/$500,000
- ACCOUNT RECEIVABLES INCLUDED
- ANIMALS
- UNSCHEDULED ANIMALS
$50,000 FOR ANY ONE ANIMAL /
$250,000 PER OCCURRENCE
- ASBESTOS CLEAN-UP & REMOVAL (RESULTANT) LIMITED COVERAGE
- AUTOMATIC ACQUISITION LIMIT $25,000,000
- AUTOMATIC ACQUISITION LIMIT FOR
- VEHICLES
- SPECIAL FLOOD H AZARD AREAS
$10,000,000
$10,000,000 ANNUAL AGGREGATE
- BUILDING ORDINANCE
UNDAMAGED PORTION OF BUILDING INCLUDED
- BUSINESS INTERRUPTION $100,000,000
- CIVIL AUTHORITY
WITHIN 10 MILES OF INSURED PREMISE 30 DAYS
- CLAIM PREPARATION EXPENSE $1,000,000
- CONTINGENT BUSINESS INTERRUPTION $5,000,000
E XCEPT TAX INTERRUPTION EXCLUDED
- COURSE OF CONSTRUCTION & ADDITIONS $50,000,000
E XCLUDES FRAME BUILDERS RISK
- DEBRIS REMOVAL INCLUDED
- DEMOLITION INCLUDED
- E ARTH MOVEMENT EXCEPT
- VEHICLES, CONTRACTORS EQUIPMENT ,
FINE ARTS COMBINED
$50,000,000 ANNUAL AGGREGATE
$5,000,000 COMBINED AGGREGATE
- E LECTRONIC DATA PROCESSING (EDP) INCLUDED
- E RRORS & OMISSIONS $25,000,000
- E XPEDITING EXPENSE $50,000,000
- E XTENDED PERIOD OF INDEMNITY 180 DAYS
- E XTRA EXPENSE $50,000,000
- FINE ARTS
- UNSCHEDULED FINE ARTS
INCLUDED
$2,500,000
- FIRE FIGHTING E XPENSE INCLUDED
- FLOOD EXCEPT
- SPECIAL FLOOD H AZARD AREAS
- VEHICLES, CONTRACTORS EQUIPMENT ,
FINE ARTS COMBINED
$50,000,000
INCLUDED
$5,000,000 COMBINED AGGREGATE
- IMPROVEMENT & BETTERMENT INCLUDED
- INCREASED COST OF CONSTRUCTION $25,000,000
✓ PER EXPIRING
CHANGE OR IMPROVEMENT TO E XPIRING
12
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
5
PROPERTY PROPOSAL
PROPERTY
EXPIRING COVERAGE
10/01/2022 TO 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
ASSOCIATION SUBLIMITS [NOT ALL INCLUSIVE…]
- INGRESS & E GRESS
WITHIN 10 MILES OF INSURED PREMISE 30 DAYS
- JEWELRY , FURS , & PRECIOUS METALS –
SEPARATELY $500,000
- LANDSCAPING, TEES, SAND TRAPS, GREENS,
ATHLETIC GREENS EXCEPT
- UNSCHEDULED LANDSCAPING , TEES ,
SAND TRAPS , GREENS , ATHLETIC GREENS
$5,000,000
$1,000,000
- LEASEHOLD INTEREST INCLUDED
- M ISCELLANEOUS UNNAMED LOCATIONS
EXCEPT
- SPECIAL FLOOD H AZARD AREAS
$25,000,000
$10,000,000 ANNUAL AGGREGATE
- M OLD (RESULTANT ) $35,000 AGGREGATE
- M ONEY AND SECURITIES $2,500,000
- O FF PREMISES SERVICE INTERRUPTION
INCLUDING EXTRA E XPENSE $25,000,000
- P ERSONAL E FFECTS INCLUDED
P ERSONAL PROPERTY OF OTHERS INCLUDED
- P ERSONAL PROPERTY OUTSIDE THE USA $1,000,000
- P ROTECTION AND PRESERVATION OF
P ROPERTY INCLUDED
- P ROPERTY OFF PREMISES INCLUDED
- SIGNS INCLUDED
- TRANSIT $25,000,000
- TUNNELS , BRIDGES, DAMS, CATWALKS –
UNSCHEDULED $500,000
- VALUABLE PAPERS AND RECORDS INCLUDED
- WATERCRAFT
- UP TO 27 FEET, UNSCHEDULED
- OVER 27 FEET, SCHEDULED
$250,000 UNSCHEDULED
ALL SCHEDULED INCLUDED
EXCLUSIONS [INCLUDING BUT NOT LIMITED TO]
- RUST, WET/DRY ROT, LAND & LAND VALUES,
COMMUNICABLE DISEASE , PROPERTY CYBER &
DATA
EXCLUDED
✓ PER EXPIRING
CHANGE OR IMPROVEMENT TO E XPIRING
13
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
6
PROPERTY PROPOSAL
RATING EXPOSURES
PROPERTY INFORMATION
TOTAL INSURANCE VALUES 2022 – 2023 2023 – 2024
TOTAL BUILDING VALUES $27,065,619 $27,877,588
TOTAL CONTENT VALUES $1,562,201 $1,609,067
DECLARED /PROP IN OPEN $2,821,273 $2,905,911
EDP EQUIPMENT (HARDWARE) $445,578 $458,945
BUSINESS INTERRUPTION /EXTRA EXPENSE $500,000 $500,000
EQUIPMENT VALUES $1,126,443 $1,126,443
AUTOMOBILE VALUES – ACTUAL CASH VALUE $3,472,420 $3,721,655
AUTOMOBILE VALUES – REPLACEMENT COST $0 $0
RENTAL VALUES $0 $0
MISCELLANEOUS PROPERTY $0 $0
TOTAL INSURABLE VALUES $36,993,534 $38,199,609
14
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
7
PROPERTY TERRORISM & SABOTAGE PROPOSAL
PROPERTY TERRORISM & SABOTAGE
EXPIRING COVERAGE
10/01/2022 TO 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
CARRIER LLOYDS OF LONDON LLOYDS OF LONDON
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 S UBLIMITS [NOT A LL I NCLUSIVE ]
- BUSINESS INTERRUPTION SUBLIMIT $25,000,000
- CIVIL OR MILITARY AUTHORITY SUBLIMIT $1,000,000, 30 DAY(S), AND 1 MILE(S)
- DEBRIS REMOVAL E XPENSES SUBLIMIT $250,000
- DECONTAMINATION COSTS E XCLUDING NCBR SUBLIMIT $250,000
- DEMOLITION & INCREASED COST OF CONSTRUCTION
SUBLIMIT $1,000,000
- E RRORS & OMISSIONS SUBLIMIT $250,000
- E LECTRONIC DATA PROCESSING MEDIA SUBLIMIT $1,000,000
- E XTENDED PERIOD OF INDEMNITY SUBLIMIT $0 AND 180 DAY(S)
- FINE ART SUBLIMIT $ 250,000
- INGRESS /EGRESS SUBLIMIT $ 1,000,000, 30 DAY(S), AND 1 MILE(S)
- P RESERVATION OF PROPERTY SUBLIMIT $ 250,000
- P ROFESSIONAL FEES SUBLIMIT $ 250,000
- RELOCATION EXPENSE SUBLIMIT $ 250,000
- SERVICE INTERRUPTION SUBLIMIT $ 1,000,000, 30 DAY(S), AND 1 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 E XPENSE 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)
- M ISCELLANEOUS UNNAMED LOCATIONS SUBLIMIT $ 1,000,000 AND 30 DAY(S)
- NEWLY ACQUIRED LOCATIONS SUBLIMIT $ 1,000,000 AND 90 DAY(S)
- P ROPERTY IN COURSE OF CONSTRUCTION SUBLIMIT $1,000,000
- RENTAL INCOME SUBLIMIT NOT INCLUDED
- SOFT COST SUBLIMIT $250,000
✓ PER E XPIRING
CHANGE OR IMPROVEMENT TO EXPIRING
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
15
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
8
ACTIVE SHOOTER & MALICIOUS ATTACK PROPOSAL
ACTIVE SHOOTER & MALICIOUS ATTACK
EXPIRING COVERAGE
10/01/2022 TO 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
CARRIER LLOYDS OF LONDON LLOYDS OF LONDON
ACTIVE S HOOTER & MALICIOUS ATTACK $1,000,000 PER OCCURRENCE
$1,000,000 AGGREGATE
$2,000,000 PER OCCURRENCE
$2,000,000 AGGREGATE
DEDUCTIBLE $10,000 $10,000
ASSOCIATION S UBLIMITS [NOT A LL I NCLUSIVE ]
- ADDITIONAL SECURITY MEASURES SUBLIMIT $250,000
- COUNSELING SUBLIMIT $250,000
- P UBLIC RELATIONS COSTS SUBLIMIT $250,000
- M ISCELLANEOUS CRISIS MANAGEMENT E XPENSES
SUBLIMIT $250,000
- WAITING PERIOD 0 HOURS
✓ P ER EXPIRING
CHANGE OR IMPROVEMENT TO E XPIRING
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
16
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
9
ANCILLARY– EQUIPMENT BREAKDOWN PROPOSAL
EQUIPMENT BREAKDOWN
EXPIRING COVERAGE
10/01/2022 TO 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
CARRIER TRAVELERS ENERGY MAX 21 TRAVELERS ENERGYMAX21
NAMED I NSURED PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA
DEDUCTIBLES
▪ ALL OBJECTS
▪ TRANSFORMERS 10,000 KVA
$1,000
$10,000
VALUATION
▪ ALL OTHER E QUIPMENT
▪ EQUIPMENT 20 YEARS OR OLDER
REPAIR AND/OR REPLACEMENT
ACTUAL CASH VALUE
EQUIPMENT & PROPERTY 25 YEARS OR
OLDER ACV
ASSOCIATION LIMITS
LIMIT PER ACCIDENT $50,000,000
ASSOCIATION SUBLIMITS [NOT ALL I NCLUSIVE ]
▪ CONTINGENT BUSINESS INTERRUPTION/EXTRA
EXPENSE $250,000 $100,000 BUSINESS INCOME
▪ DEMOLITION/INCREASED COST $1,000,000
▪ ERRORS IN DESCRIPTION POLICY LIMIT
▪ EXPEDITING E XPENSE POLICY LIMIT
▪ H AZARDOUS SUBSTANCE $2,000,000
▪ MEDIA $500,000
▪ N EWLY ACQUIRED LOCATION POLICY LIMIT
▪ ORDINANCE OR LAW INCL . DEMOLITION $1,000,000
▪ REFRIGERANT CONTAMINATION POLICY LIMIT
▪ WATER DAMAGE POLICY LIMIT $100,000
MAJOR PERILS EXCLUDED
▪ EARTHQUAKE E XCLUDED
▪ EC PERILS E XCLUDED
▪ FLOOD E XCLUDED
▪ FREEZE E XCLUDED
▪ FURNACE EXPLOSION E XCLUDED
▪ LIGHTNING E XCLUDED
✓ PER E XPIRING
CHANGE OR IMPROVEMENT TO EXPIRING
17
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
10
CRIME PROPOSAL
CRIME
EXPIRING COVERAGE
10/01/2022 TO 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
COMPANY PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA
DEDUCTIBLE $1,000
LIMIT S
▪ EMPLOYEE THEFT-PER LOSS COVERAGE $500,000
▪ 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
▪ IMPERSONATION FRAUD/SOCIAL
ENGINEERING $100,000
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
▪ N O MINIMUM E ARNED PREMIUM INCLUDED
✓ PER EXPIRING
CHANGE OR IMPROVEMENT TO E XPIRING
18
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
11
GENERAL LIABILITY PROPOSAL
*COMMUNICABLE DISEASE SUB-LIMIT & AGGREGATES APPLIES TO ALL LIABILITY COVERAGES COMBINED
GENERAL LIABILITY
EXPIRING COVERAGE
10/01/2022 TO 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
COMPANY PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA
COVERAGE FORM OCCURRENCE OCCURRENCE
DEDUCTIBLE $0
LIMIT S
LIMIT OF LIABILITY $2,000,000
COVERAGE [INCLUDING BUT NOT LIMITED TO ]
▪ EMPLOYEE BENEFIT LIABILITY INCLUDED
▪ LAW E NFORCEMENT LIABILITY INCLUDED
▪ MISCELLANEOUS PROFESSIONAL INCLUDED
TERMS [INCLUDING BUT NOT LIMITED TO ]
▪ ASSAULT & BATTERY INCLUDED
▪ BLANKET CONTRACTUAL-H OLD H ARMLESS INCLUDED
▪ BODILY INJURY /PROPERTY DAMAGE INCLUDED
▪ EMT/PARAMEDICAL COVERED INCLUDED
▪ FALSE ARREST/IMPRISONMENT INCLUDED
▪ H OST & 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 P OOL AGG
EXCLUSIONS [INCLUDING BUT NOT LIMITED TO ]
▪ AIRCRAFT LIABILITY E XCLUDED
▪ MEDICAL PAYMENTS (NOT LEGAL LIABILITY) E XCLUDED
▪ PRODUCT RECALL, TAMPERING OR
GUARANTEE E XCLUDED
▪ WAR, NUCLEAR HAZARDS E XCLUDED
✓ PER EXPIRING
CHANGE OR IMPROVEMENT TO E XPIRING
ASSOCIATION AGGREGATE $100,000,000 FOR ALL LIABILITY COVERAGES
19
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
12
AUTO LIABILITY PROPOSAL
AUTO LIABILITY
EXPIRING COVERAGE
10/01/2022 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
COMPANY PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA
COVERAGE FORM OCCURRENCE OCCURRENCE
DEDUCTIBLE $0
LIMIT S
LIABILITY 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
▪ H IRED/BORROWED LIABILITY $2,000,000
▪ H IRED/BORROWED PHYSICAL DAMAGE INCLUDED
▪ N ON-OWNED LIABILITY $2,000,000
▪ N ON-OWNED PHYSICAL DAMAGE INCLUDED
EXCLUSIONS [INCLUDING BUT NOT LIMITED TO ]
▪ AUTO PHYSICAL DAMAGE EXCLUDED – COVERED UNDER PROPERTY
▪ MEDICAL PAYMENTS E XCLUDED
▪ UNINSURED/UNDERINSURED MOTORIST E XCLUDED
✓ PER E XPIRING
CHANGE OR IMPROVEMENT TO EXPIRING
ASSOCIATION AGGREGATE $100,000,000 FOR ALL LIABILITY COVERAGES
20
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
13
PUBLIC OFFICIALS / EMPLOYMENT PRACTICES LIABILITY PROPOSAL
*COMMUNICABLE DISEASE SUB-LIMIT & AGGREGATES APPLIES TO ALL LIABILITY COVERAGES COMBINED
PUBLIC OFFICIALS / EMPLOYMENT PRACTICES LIABILITY
EXPIRING COVERAGE
10/01/2022 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
COMPANY PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA
COVERAGE FORM CLAIMS MADE CLAIMS MADE
RETROACTIVE DATE 10/01/201 0 10/01/2010
DEDUCTIBLE $0
PUBLIC OFFICIALS LIABILITY
LIMIT OF LIABILITY $2,000,000
ANNUAL AGGREGATE $6,000,000
EMPLOYMENT PRACTICES LIABILITY
LIMIT OF LIABILITY $2,000,000
ANNUAL AGGREGATE $6,000,000
SUBLIMITS [INCLUDING BUT NOT LIMITED TO ]
▪ BERT H ARRIS: RETRO DATE : 10/01/2015 $300,000/$300,000
▪ INVERSE CONDEMNATION: RETRO DATE :
10/01/2015 $100,000/$100,000
▪ N ON-MONETARY DAMAGE S RETRO DATE:
10/01/2015 $100,000/$100,000
COVERAGE [INCLUDING BUT NOT LIMITED TO ]
▪ ELECTED OFFICIALS , APPOINTED OFFICERS INCLUDED
▪ ERRORS AND OMISSIONS INCLUDED
▪ MISFEASANCE, MALFEASANCE &
N ONFEASANCE INCLUDED
▪ N EGLIGENCE INCLUDED
▪ SEXUAL HARASSMENT INCLUDED
▪ SEXUAL MISCONDUCT RETRO DATE IF INCL E XCLUDED
▪ W RONGFUL ACTS OF PUBLIC OFFICIALS INCLUDED
▪ COMMUNICABLE DISEASE*
$200,000 PER CLAIMANT/$300,000 PER
OCC/$300,000 MEMBER
AGG/$3,000,000 P OOL AGG
▪ ETHICS VIOLATIONS REIMBURSEMENT
$5,000 PER COMMISSIONER/$15,000
MEMBER AGGREGATE/$500,000 ANNUAL
POOL AGGREGATE
DISCLAIMER
BOTH PUBLIC OFFICIALS LIABILITY AND EMPLOYMENT PRACTICES LIABILITY IS SUBJECT TO A PER MEMBER COMBINED AGGREGATE OF $6,000,000
✓ Per Expiring
Improvement to Expiring
ASSOCIATION AGGREGATE $100,000,000 FOR ALL LIABILITY COVERAGES
21
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
14
OPTIONAL – EXCESS LIABILITY PROPOSAL
EXCESS LIABILITY
RENEWAL
10/0/1/2023 TO 10/01/202 4
COMPANY PUBLIC RISK MANAGEMENT OF FLORIDA
COVERAGES INCLUDED
▪ AUTO LIABILITY ▪ E MPLOYMENT PRACTICES LIABILITY ▪ GENERAL LIABILITY
▪ EMPLOYEE BENEFITS LIABILITY ▪ E RRORS & OMISSIONS LIABILITY ▪ LAW ENFORCEMENT LIABILITY
EXCLUSIONS [INCLUDING BUT NOT LIMITED TO ]
▪ ABUSE OR MOLESTATION ▪ E MPLOYERS’ LIABILITY/WORKERS’
COMPENSATION
▪ POLLUTION LIABILITY EXCLUSION-
HOSTILE FIRE COVERAGE
▪ AIRPORT LIABILITY ▪ FAILURE TO SUPPLY EXCLUSION -
UTILITIES ▪ SILICA OR DUST
▪ ASBESTOS ▪ FUNGI OR BACTERIA ▪ WAR
▪ AUTOMOBILE FIRST PARTY COVERAGE ▪ NURSING HOME ▪ WHARFINGERS’ LIABILITY
▪ DAMS , LEVEES, DIKES OR RESERVOIRS ▪ PROPERTY DAMAGE E XCLUSION-REAL
AND/OR PERSONAL PROPERTY
LINE OF C OVERAGE LIMIT EXCESS OF LIMITS COVERAGE TRIGGER
▪ 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 E XCESS LIABILITY AGGREGATE APPLIES PER M EMBER FOR EMPLOYEE BENEFITS LIABILITY, PUBLIC OFFICIALS
ERRORS & OMISSIONS AND EMPLOYMENT PRACTICES LIABILITY ONLY*
QUOTATION AVAILABLE UPON REQUEST
ASSOCIATION AGGREGATE $100,000,000 FOR ALL LIABILITY COVERAGES
22
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
15
WORKERS’ COMPENSATION PROPOSAL
WORKERS’ COMPENSATION
EXPIRING COVERAGE
10/01/2022 TO 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
COMPANY PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA
DEDUCTIBLE NIL NIL
LIMITS
▪ WORKERS’ COMPENSATION
- MEDICAL
- DISABILITY
- DEATH
STATUTORY
▪ EMPLOYERS ’ LIABILITY
- EACH ACCIDENT
- EACH E MPLOYEE FOR DISEASE
$2,000,000
$2,000,000
TERMS & C ONDITIONS [NOT ALL INCLUSIVE ]
▪ BROAD FORM ALL STATES INCLUDED
▪ MARITIME COVERAGE ENDORSEMENT INCLUDED
▪ VOLUNTARY COMPENSATION E NDORSEMENT INCLUDED
SUBJECT TO
▪ ANNUAL POLICY AUDIT – PLEASE NOTE THE
10/01/2023 TO 10/01/2 024 WC
COVERAGE PERIOD WILL BE AUDITED AT A
RATE OF 0.0115142 PER DOLLAR OF PAYROLL
ON THE TOTAL WC PREMIUM, BEFORE ANY
PARTICIPATION CREDITS
INCLUDED
✓ P ER EXPIRING
CHANGE OR IMPROVEMENT TO E XPIRING
23
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
16
WORKERS’ COMPENSATION PROPOSAL
CLASS
C ODE DESCRIPTION
2022 – 2023
ESTIMATED
PAYROLL
2023 – 2024
ESTIMATED
PAYROLL
5509 STREET OR ROAD PAVING $300,609 $320,963
7720 POLICE OFFICERS & DRIVERS $4,544,429 $4,611,030
8380 AUTOMOBILE SERVICE OR REPAIR CENTER & DRIVERS $150,190 $176,202
8810 CLERICAL OFFICE E MPLOYEES $2,199,416 $2,413,202
9015 BUILDINGS OPERATIONS BY OWNER - ALL OTHER EMPLOYEES $114,699 $126,147
9102 PARK NOC - ALL E MPLOYEES & DRIVERS $1,213,185 $1,367,048
9403 GARBAGE ASHES OR REFUSE COLLECTION & DRIVERS $364,382 $384,323
9410 MUNICIPAL , TOWNSHIP, D OR STATE E MPLOYEE NOC $531,854 $583,627
TOTAL PAYROLL $9,418,764 $9,982,542
24
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
17
ANCILLARY – CYBER LIABILITY PROPOSAL
CYBER LIABILITY
EXPIRING COVERAGE
10/01/2022 TO 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
CARRIER GREAT AMERICAN INSURANCE GREAT AMERICAN INSURANCE
NAMED I NSURED PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA
COVERAGE FORM CLAIMS MADE CLAIMS MADE
RETROACTIVE DATE 10/01/20 20 10/01/20 20
DEDUCTIBLE $100,000 $20,000
LIMITS
LIMIT OF LIABILITY $1,000,000
ANNUAL AGGREGATE $5,000,000 POOL AGGREGATE
COVERAGE (INCLUDING BUT NOT LIMITED TO ]
▪ BUSINESS INCOME/EXTRA E XPENSE INCLUDED
▪ CYBER E XTORTION THREATS INCLUDED
▪ MEDIA LIABILITY INCLUDED
▪ PUBLIC RELATIONS EXPENSE INCLUDED
▪ REPLACEMENT /RESTORATION OF ELECTRONIC
DATA INCLUDED
▪ SECURITY BREACH E XPENSE INCLUDED
▪ SECURITY BREACH LIABILITY [INCLUDES
REGULATORY FINES/PENALTIES AND PCI FINES] INCLUDED
✓ P ER EXPIRING
CHANGE OR IMPROVEMENT TO E XPIRING
25
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
18
ANCILLARY– POLLUTION & REMEDIATION LIABILITY PROPOSAL
POLLUTION AND REMEDIATION LEGAL LIABILITY
EXPIRING COVERAGE
10/01/2022 TO 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
CARRIER INDIAN HARBOR INSURANCE CO. INDIAN HARBOR INSURANCE CO.
NAMED I NSURED PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA
COVERAGE FORM CLAIMS MADE CLAIMS MADE
RETROACTIVE DATE TBD TBD
SELF-I NSURED R ETENTION $25,000 $25,000
LIMITS
LIMIT OF LIABILITY EACH P OLLUTION CONDITION $1,000,000
TOTAL LIMIT OF LIABILITY ANNUAL AGGREGATE $2,000,000
▪ EMERGENCY REMEDIATION E XPENSE $250,000
▪ EMERGENCY REMEDIATION E XPENSE
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
✓ P ER EXPIRING
CHANGE OR IMPROVEMENT TO E XPIRING
26
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
19
OPTIONAL – AIRPORT OWNERS & OPERATORS LIABILITY PROPOSAL
AIRPORT OWNERS AND OPERATORS LIABILITY
EXPIRING COVERAGE
10/01/2022 TO 10/01/2023
RENEWAL
10/01/2023 TO 10/01/2024
CARRIER ACE PROPERTY & CASUALTY INSURANCE CO ACE PROPERTY & CASUALTY INSURANCE CO
NAMED I NSURED PUBLIC RISK MANAGEMENT OF FLORIDA PUBLIC RISK MANAGEMENT OF FLORIDA
FAA ID S TATE N AME
COVERAGE FORM OCCURRENCE OCCURRENCE
DEDUCTIBLE NIL NIL
LIMITS
LIMIT OF LIABILITY $2,000,000
▪ EXTENDED COVERAGE -WAR, H I-JACKING
& OTHER PERILS ANNUAL AGGREGATE $2,000,000
▪ FIRE DAMAGE LIMIT ANY ONE FIRE $100,000
▪ H ANGARKEEPERS NOT “IN FLIGHT” LIMIT
ANY ONE OCCURRENCE $1,000,000
▪ H ANGARKEEPERS NOT “IN FLIGHT” LIMIT
ANY ONE AIRCRAFT $1,000,000
▪ MALPRACTICE ANNUAL AGGREGATE $2,000,000
▪ MEDICAL EXPENSE LIMIT ANY ONE PERSON $1,000
▪ N ON-OWNED AIRCRAFT LIABILITY $2,000,000
▪ PERSONAL INJURY AND ADVERTISING
INJURY ANNUAL AGGREGATE $2,000,000
▪ PRODUCTS-COMPLETED OPERATIONS
ANNUAL AGGREGATE $2,000,000
CONDITIONS [NOT ALL INCLUSIVE ]
▪ 60 DAYS NOTICE OF CANCELLATION , NON-
RENEWAL OR REDUCTION IN COVERAGE BY
INSURER, BUT 10 DAYS NOTICE FOR NON -
PAYMENT OF PREMIUM
✓ P ER EXPIRING
CHANGE OR IMPROVEMENT TO E XPIRING
27
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
20
EXPOSURE CHANGE
EXPOSURE CHANGE
EXPOSURE 2022 – 2023 2023 – 2024 % CHANGE
PROPERTY TIV $36,993,534 $38,199,609 3.26%
NUMBER OF A UTOMOBILES 139 149 7.19%
NUMBER OF EMPLOYEES 123 123 0.00%
TOTAL PAYROLL $9,418,764 $9,982,542 5.99%
28
CITY OF SOUTH MIAMI
2023 - 2024 RENEWAL PROPOSAL
PROPERTY & CASUALTY INSURANCE
PRESENTED: JULY 14, 2023
21
PROPOSAL PRICING & BINDING AUTHORITY
A FTER CAREFUL CONSIDERATION OF THE REFERENCED PROPOSAL , WE ACCEPT YOUR INSURANCE PROGRAM AS
INDICATED WITH AN “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 AC TUAL POLICIES WILL CONTAIN THE COMPLETE TERMS , CONDITIONS, DEDUCTIBLES , EXCLUSIONS ,
ETCETERA . PLEASE REVIEW POLICY LANGUAGE FOR A FULL UNDERSTANDING OF PURCHASED PROGRAM .
________________________________ _______________________________
Member Signature Date
________________________________
Print Member Name
SIGNED BINDING AUTHORITY TO BE RETURNED BY 09/15/2023
THIS DOCUMENT IN ITS ENTIRE TY IS CONFIDENTIAL & PROPRIETARY IN NATURE - NOT FOR PUBLIC RECORD.
PROPERTY & CASUALTY COVERAGES
PREMIUM BREAKDOWN BIND
2022 – 2023 2023 – 2024 % CHANGE YES NO
PRM PROPERTY & C RIME $224,451 $301,299
PRM EQUIPMENT B REAKDOWN $2,516 $3,110
PRM GL/LEL/AL/E&O $331,209 $315,931
PRM WORKERS’ C OMPENSATION $120,499 $114,941
PREFERRED MEMBER PARTICIPATION CREDIT -$10,180 -$11,029
GRAND TOTAL $668,495 $724,251 8.34%
OPTIONAL/ANCILLARY C OVERAGES
CYBER LIABILITY INCLUDED INCLUDED
POLLUTION LIABILITY N/A N/A
AVIATION LIABILITY N/A N/A
29