2010-52 Property Casualty Insurance CoverageRESOLUTION 2010-52
• A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
NORTH PALM BEACH, FLORIDA, ACCEPTING A PROPOSAL
SUBMITTED IN RESPONSE TO THE VILLAGE'S REQUEST FOR
PROPOSALS TO PROVIDE A PROPERTY AND CASUALTY INSURANCE
PROGRAM; PROVIDING FOR CONFLICTS; AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the Village initiated a Request for Proposals to provide a property and casualty
insurance program for the Village; and
WHEREAS, the proposals received by the Village were evaluated by the Village's Audit
Committee; however, the Committee was unable to provide a definitive recommendation due to
the complex and technical nature of the coverage options; and
WHEREAS, the Village retained the services of an independent risk management company to
assist the Village in the evaluation process and to provide a recommendation; and
WHEREAS, the Village Council determines that the adoption of this Resolution in the best
interests of the Village and its residents.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM
BEACH, FLORIDA as follows:
Section 1. The foregoing recitals are hereby ratified and incorporated herein.
Section 2. The Village Council hereby approves the recommendation of the independent risk
management company and hereby accepts the following components of the proposals submitted
for the Village's property and casualty insurance program:
1. Purchase all property and casualty coverage (with the exception of worker's
compensation coverage) from Public Risk Management (PRM) through FFIB;
2. Purchase worker's compensation coverage from Preferred Government Insurance
Trust (PGIT) through PRIA.
3. Purchase storage tank liability and special events policies from PRM upon the
expiration dates of the current policies with FMIT. Cancel liquor liability
coverage with FMIT, effective October 1, 2010.
4. Purchase excess liability (umbrella) coverage through PRM.
The Village Council further authorizes Village Administration to take all actions necessary to
• implement such coverage, including, but by no means limited to, the issuance of a broker of
record letter to FFIB.
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• Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to
the extent of such conflict.
Section 4. This Resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED THIS 16th DAY OF SEPTEMBER, 2010.
(Village Seal)
ATTEST:
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VILLAGE CLERK
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