Agenda Item # 11.d.
City Commission Regular Meeting - 6:00 pm
- Meeting Date:
- 09/08/2020
- Re
- Property & Casualty Insurance, RFP #2020-027
- Submitted For:
- Johnna Morris
SUBJECT:
Approve awarding the bid for Property & Casualty Insurance, RFP #2020-027, to the Florida League of Cities thru Florida Municipal Insurance Trust (FMIT) in the amount of $2,092,411.00 representing a savings of $183,276.00.
SUMMARY:
The City solicited proposals for Property & Casualty Insurance from several insurance providers and there were 3 responses. The Evaluation Committee, with the guidance of Siver, the City's Consultant, is recommending the City accepts the proposal from the Florida League of Cities for a total cost to the City of $2,092,411, a savings of $183,276 or, 8.05%. They have also provided a two-year rate guarantee.
RECOMMENDATION:
Award Contract to Florida League of Cities (FMIT), Florida League is the City's current provider and has done an excellent job.
ALTERNATIVES:
Contract with the provider whose initial cost is lower but there is not a multi-year rate guarantee or the provider whose cost is higher but has a multi-year guarantee.
RESPONSIBLE STAFF:
Director of Finance
COORDINATED WITH:
Risk Manager, Purchasing Manager, Siver Consultants
Fiscal Impact
- Budgeted Y/N:
- Y
- Fiscal Year:
- 2021
OTHER INFORMATION:
A Savings of $183,276.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Finance Department | qthompkins | 08/20/2020 10:07 AM |
| Finance Department | Johnna Morris | 08/21/2020 10:51 AM |
| City Manager | Nick Mimms | 08/30/2020 11:44 AM |
- Form Started By:
- qthompkins
- Started On:
- 08/20/2020 08:00 AM
- Final Approval Date:
- 08/30/2020