TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: Approve Renewal of Property and Casualty and Risk Management Services, and Accidental Death and Dismemberment (AD&D) Insurance and the 1-Year Extension of Contract Award 2018-74 with Brown and Brown/Risk Management Associates for Fiscal Year 2022/2023 in the Budgeted amount $1,429,701.
Recommended Action
Approve Renewal of Property and Casualty and Risk Management Services, and Accidental Death and dismemberment (AD&D) Insurances, and the 1-year extension of Contract Award 2018-74 with Brown and Brown/Risk Management Associates, Inc. for Fiscal Year 2022-2023 in the budgeted amount of $1,429,701.
Background Information
During the City Commission Regular Meeting on September 11, 2018, pursuant to Request for Proposal (RFP) No. 2018-74, which was issued by Ben Few & Company, the City Commission awarded Property and Casualty Insurance and Risk Management Services with Brown and Brown/Risk Insurance Associates, Inc.
The Broker Term is for a period of three (3) years from October 1, 2018, through and including September 30, 2021, with an option to extend/renew for two (2) additional one (1) year periods. However, the policies must be negotiated and renewed on an annual basis. This year the second renewal/extension of the Contract is included.
During the City Commission Regular Meeting on September 14, 2021, the City Commission approved the renewal in the amount of $1,142,701.
The City intends on renewing the current program for the Fiscal Year 2022-2023 with minimal changes in the scope of coverages. The Fiscal Year 2022-2023 overall premium amount has increased from the Fiscal Year 2021-2022 premium amount, individual coverage amounts vary due to the difference in the rating variables, such as increased payroll, number of vehicles and equipment, and property values.
Strategic Plan
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