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County Administrator's Report 10. 5.
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| BCC Regular Meeting |
Budget & Finance Consent |
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| RECOMMENDATION: |
Recommendation Concerning Commercial Property, Boiler and Machinery, Crime & Accidental Death and Dismemberment (Statutory Death Benefits) Insurance - Robert Dye, Manager, Risk Management Office
That the Board approve the payment to USI Insurance Services, LLC, broker/agent of record, in the amount of $1,210,548, to place commercial property insurance through AmWins Brokerage of Alabama, LLC for the period of December 1, 2017, through November 30, 2018. The boiler and machinery, commercial crime and accidental death and dismemberment insurance renew separately.
[Funding: Fund 501, Internal Service, Cost Center 140835, Object Code 54501] |
| BACKGROUND: |
The terms and conditions of the commercial property policy renewal remain favorable with a $25,000 deductible, blanket coverage for real property, agreed value for vehicles and equipment, over the road comprehensive and collision coverage for vehicles, and a flood limit level with the all risks property limit of $75,000,000.
An increase in the property rates was incurred as a direct result of our loss history and the negative impact the Insurance markets have experienced this year from losses due to major hurricanes Irma and Harvey |
| BUDGETARY IMPACT: |
| Funds are available in Fund 501, Internal Service, Cost Center 140835, Object Code 54501 |
| LEGAL CONSIDERATIONS/SIGN-OFF: |
| This recommendation does not require legal sign off. |
| PERSONNEL: |
| Risk Management will be the contract administrator. No additional personnel will be required. |
| POLICY/REQUIREMENT FOR BOARD ACTION: |
| County Ordinance, Chapter 46, Article II, Section 46-64, providing for Board approval of contracts of fifty thousand dollars ($50,000.00). |
| IMPLEMENTATION/COORDINATION: |
| Upon approval by the Board of County Commissioners a purchase order will be issued by the Purchasing Office to provide payment for services rendered from the contract. |
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