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, Accidental Dismemberment (AD&D) Insurance With The Gehring Group, Inc., a Brown and Brown, Inc. Company for Fiscal Year 2026-2027 in the Amount of $2,242,019.00.
Recommended Action
Option 1: Approve Renewal of Property and Casualty, Accidental Dismemberment (AD&D) Insurance with The Gehring Group, Inc., a Brown and Brown, Inc. company for Fiscal Year 2026-2027 in the amount of $2,242,019.00.
City Commission Options
Option 1: Approve renewal of Property and Casualty, Accidental Dismemberment (AD&D) Insurance with The Gehring Group, Inc., a Brown and Brown, Inc. company for Fiscal Year 2026-2027 in the budgeted amount $2,242,019.00.
Pros: The renewal provides stability by maintaining the City’s existing insurance coverage and ensuring consistent protection for the organization. It also allows the City to continue coverage within the approved budget.
Cons: Failure to approve the renewal could result in the City not having secured and continued Property and Casualty insurance coverage, potentially leaving the City exposed to increased financial and operational risk.
Option 2: Deny renewal of Property and Casualty, Accidental Dismemberment (AD&D) Insurance with The Gehring Group, Inc., a Brown and Brown, Inc. company for Fiscal Year 2026-2027 in the amount of $2,242,019.00.
Pros: Denial of the renewal would avoid committing the budgeted $2,242,019.00 for the proposed Property and Casualty and Accidental Dismemberment (AD&D) insurance coverage for Fiscal Year 2026-2027.
Cons: Denial of the renewal would leave the City without secured and continued Property and Casualty and AD&D insurance coverage, significantly increasing the City’s exposure to financial and operational risks. The City’s insurance broker has already conducted the necessary market research and analysis, and failure to approve the r...
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