08-17-1981 Workshop MeetingWORKSHOP MEETING ON LIABILITY INSURANCE
Miami Shores Village Council
August 17, 1981
A workshop meeting of the Miami Shores Village Council was called for
August 17, 1981, 7:30 p.m., for the purpose of discussing liability
insurance coverage. The following members of Council were present:
Mayor Robert J. Lodge
Herbert Spahn, Jr.
Henry A. Everett
Elspeth Jensen
Absent: Donald W. McIntosh
Also in attendance:
0. Sam Ackley, Village Manager
William F. Fann, Jr., Village Attorney
Steve Christie, Stembler Adams & Sweet
Jay Leigh, Fla. League Insurance Representative
Mrs. Fran Everett, Everett Insurance Co.
As directed at a previous workshop, Mr. Christie and Mr. Leighwere
present to submit proposals for comparison purposes on the present
Village coverage and coverage based on maximum'fiblity of $100/200,000,
as permitted by State law.
Mr. Christie presented his premiums based on the present 5 million
liability, with increased values on all buildings and the immunity limit
as follows:
Property
Auto Liability
Auto Physical Damage
General Liability
Umbrella Liability
Garagekeepers Legal Liabi
Blanket Bond
Current Program
$ 11,409
31,555
8,055
52,628
18,300
lity 50
2,376
$124,373
Immunity Limit
$ 11,409
31,505
8,055
40,219
50
2,376
$ 93,614
Removing Prop. (11,409) 112,964 82,205
Mr. Jay Leigh presented the Risk Management Service, Inc. proposal which
was incorrectly figured on the basis of $500,000 liability instead of the
immunity limit. This was recomputed to a comparable figure of $76,088 vs.
$82,205.00
A consensus of Council on the 100/200,000 limit was as follows:
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WORKSHOP MEETING - August 17, 1981
Page 2.
Mrs. Jensen Yes, if our attorney is comfortable with it.
Mr. Everett No
Mr. Spahn Yes, on advice of our attorney
Mr. Fann stated he could find no reason to say we need more than 100/200,000.
Mr. Spahn stated he was not comfortable with the 100/200,000 until we know
what coverage is included in the basic premiums.
Mayor Lodge concluded it was the consensus of Council to go with
100/200,000 and asked for the correct figures from the Florida League
for the next Council meeting of September 1, 1981.
A copy of the umbrella policy form was requested. By eliminating the
umbrella and bringing coverage down to 100/200,000 would save $31,000.00.
It was also pointed out that an umbrella policy could not be taken on
the 100/200,000 limit. It could only be secured for in excess of 500,000.
The Council again requested that Public Officials Liability insurance be
secured.
Concerning the Country Club budget, Mr. Ackley reported that there is
a difference of approximately $36,500 more in expenses than revenue and
that this could be taken out of depreciation. Then if a deal can be made
with the Sheraton Bal Harbour the revenue could be used to reinstate the
depreciation.
The meeting adjourned at 8;50 p.m..
Village Clerk