www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - February 7, 2017
REVISED February 7, 2017 - Regular Meeting
Agenda Item #14


Subject
Boiler and Machinery, Crime, and Railroad General Liability Insurance Renewals

Briefings
Briefing Provided Upon Request

Contact and/or Presenter Information

Mitchell O. Palmer, County Attorney, ext. 3750; and Linda R. Klasing, Risk Manager, ext. 3750



Action Requested

Motion to approve the purchase of insurance including: Boiler and Machinery coverage for $48,849.00, Crime coverage for $4,094.00, and Railroad General Liability coverage for $17,600.00, with a total cost of $70,543.00; and authorize the County Attorney, or his designee, to execute all related documents.



Enabling/Regulating Authority

Ordinance No. 16-26



Background Discussion

Boiler and Machinery

Manatee County purchases a Boiler and Machinery insurance policy to protect the County from losses due to mechanical failure to equipment such as air conditioning systems, damage to large electrical motors and other systems that may fail due to mechanical problem. The coverage has a total loss limit of $50,000,000 and retention (deductible) of $5,000 per occurrence. All terms, conditions, etc. remain the same per the expiring policy for a total annual premium of $48,849.00 with an effective renewal date of March 1, 2017. This represents a premium reduction from the expiring policy of $1,175.00.

Crime

The County also purchases Crime coverage to ensure against acts of employee dishonesty for theft of money or securities. This is a 3 year rate guarantee policy effective March 1, 2016 to March 1, 2019.  The annual premium for the Crime renewal is $4,094.00 with an effective renewal date of March 1, 2016. The retention remains the same at $25,000.

Railroad General Liability

The County also purchases a Railroad General Liability insurance policy to maintain a contract requirement with CSX and Florida Power and Light [FPL]. There are three types of projects related to this policy:  fiber optic conduits, piping situated within CSX rights-of-way and two sewer pipes within FPL rights-of-way [FPL].  These projects are associated with numerous agreements between the County and CSX and the County and FPL. The annual premium for this policy is $17,600.00 with an effective renewal date of March 3, 2017. This represents a premium decrease of $400.00 over the expiring policy. The retention for this policy remains at $5,000.



County Attorney Review
Other (Requires explanation in field below)

Explanation of Other
This is a County Attorney item.

Reviewing Attorney
Palmer

Instructions to Board Records

Please return a copy of the approved agenda item to the Risk Management Division, Linda Klasing, Risk Manager (Linda.Klasing@mymanatee.org).

 



Cost and Funds Source Account Number and Name
505-0001500-545000, Risk Management General Liability Fund

Amount and Frequency of Recurring Costs
$70,543.00; One Time Payment


Attachment:  Manatee Railroad-GL Proposal 2017-2018.pdf
Attachment:  Manatee BM & Crime Proposal 2017-2018.pdf