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File #: 21-7549    Version: 1 Name: City of Key West Property and Casualty Insurance for FY 2022
Type: Resolution Status: Passed
File created: 9/1/2021 In control: City Commission
On agenda: 9/14/2021 Final action: 9/14/2021
Title: *Authorizing the City Manager to negotiate and place pursuant to Section 2-797(4)(b) of the Code of Ordinances, Exempt Contractual Services, the City’s Property and Casualty Insurance Program for 2021-2022 by Public Risk Management of Florida (PRM) as submitted by World Risk Management (WRM) in the amount of $2,125,675.00; Authorizing acceptance of World Risk Management as the Agent/Broker for the City’s Casualty Insurance Program for policy year 2021-2022; Approving pursuant to Section 2-797(4)(b) of the Code of Ordinances the placement of the City’s Ancillary Policies in the amount not to exceed $107,351.00 from Public Risk Insurance Agency (PRIA) to include: (Estimated Not to Exceed (NTE) premiums based on historical pricing) Westchester Fire Insurance for Aircraft (DRONE) Coverage provided by WRM ($3,351.00), Marine Operators Legal Liability Coverage (NTE $17,000.00), Outer Mole Excess Liability Coverage (NTE $12,000.00), Wharfingers Liability Coverage (NTE $17,000.00), Hull and Ma...
Sponsors: Patti McLauchlin
Attachments: 1. Resolution, 2. Executive Summary, 3. PRM Insurance Renewal Proposal, 4. Consultant Review - Interisk, 5. Consultant Review - Ben Few, 6. Required Ancillary Coverage's - Previous Fiscal Year, 7. 2021 - 2022 Drone Policy provided by WRM

Title

*Authorizing the City Manager to negotiate and place pursuant to Section 2-797(4)(b) of the Code of Ordinances, Exempt Contractual Services, the City’s Property and Casualty Insurance Program for 2021-2022 by Public Risk Management of Florida (PRM) as submitted by World Risk Management (WRM) in the amount of $2,125,675.00; Authorizing acceptance of World Risk Management as the Agent/Broker for the City’s Casualty Insurance Program for policy year 2021-2022; Approving pursuant to Section 2-797(4)(b) of the Code of Ordinances the placement of the City’s Ancillary Policies in the amount not to exceed $107,351.00 from Public Risk Insurance Agency (PRIA) to include: (Estimated Not to Exceed (NTE) premiums based on historical pricing) Westchester Fire Insurance for Aircraft (DRONE) Coverage provided by WRM ($3,351.00), Marine Operators Legal Liability Coverage (NTE $17,000.00), Outer Mole Excess Liability Coverage (NTE $12,000.00), Wharfingers Liability Coverage (NTE $17,000.00), Hull and Machinery Coverage (NTE $17,000.00); Vessel Pollution Coverage (NTE $7,000.00); AD&D Coverage (NTE $9,000.00); Storage Tank Liability (NTE $8,000.00); Pollution Liability (NTE $17,000.00); Authorizing the acceptance of Public Risk Insurance Agency (PRIA) as the Agent/Broker for the City's Ancillary Policies, with the exception of Drone Coverage (WRM); Upon completion of negotiations, Authorizing the City Manager to execute all documents consistent therewith upon the advice and consent of the City Attorney.