Agenda

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County Administrator's Report 7. 8.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	09/19/2019
Issue: Workers’ Compensation Insurance Renewal
From:	ROBERT DYE
Department:	Asst County Administrator
CAO Approval:

RECOMMENDATION:

Recommendation Concerning Workers’ Compensation Insurance Renewal - Robert Dye, Manager, Risk Management Office

That the Board approve the payment to the Florida Municipal Insurance Trust for the Workers’ Compensation Insurance renewal for Escambia County, effective October 1, 2019, through September 30, 2020, in the amount of $1,425,041, with a $100,000 per occurrence deductible.

[Funding: Fund 501, Internal Service, Cost Center 140834, Object Code 54501]

BACKGROUND:

Florida Municipal Insurance Trust (FMIT) has agreed to renew the County’s Workers Compensation Policy with the same terms and deductible as last year. Our Agent of Record sought competitive proposals from the marketplace, but no other insurers were willing or able to compete with the terms, conditions, and rates offered by FMIT. The only competing insurer from last year, PGIT, was unwilling to formally quote the business but offered an indication at near double FMIT’s premium with unspecified changes in policy conditions.

The renewal premium represents a $223,589 increase over last year’s premium. The increase is attributed to the experience mod calculated by NCCI and an overall increase in payroll.

BUDGETARY IMPACT:

Funding: Fund 501, Internal Service, Cost Center 140834, Object Code 54501

LEGAL CONSIDERATIONS/SIGN-OFF:

N/A

PERSONNEL:

Risk Management will be the contract administrator.

POLICY/REQUIREMENT FOR BOARD ACTION:

This Recommendation is in compliance with the provisions of the Code of Ordinances of Escambia County, Florida, Chapter 46, Finance, Article II, Purchase and Contracts.

IMPLEMENTATION/COORDINATION:

Upon approval by the Board of County Commissioners, a Purchase Order will be issued to provide payment for services rendered from the Contract.

Attachments
WC Invoice
PGIT 2020 Indication