09-18-1989 Insurance Workshop MeetingMIAMI SHORES VILLAGE
INSURANCE WORKSHOP
SEPTEMBER 1-8, 1989
The insurance Workshop of the Miami Shores Village
Council was held on Monday, September 18, 1989 at Village
Hall at 7:35 with the following members present:
Herb Spahn
Spero Canton
Stephen Loffredo
Also present:
Gall Macdonald
William .F- Fann
Mr. Spahn called the meeting to order. Ms. Macdonald
reviewed the background behind the workshop and said that If
the Council accepts the proposed program the VI1lage will
realize a 10% savings up front and possibly more If there are
few losses.
Mr. Tony Abella from Arthur J. Gallagher & Co. made a
presentation explaining how his Insurance program works and
spoke about the ways the Village would save money. Mr. Abella
stated that the coverage would be broader then the Village's
current program. He spoke about the loss fundthat the Village
maintains and stated that If the Village doesn't use the whole
fund the money would stay with the Village. Mr. Abella said
that If we use the whole fund we will stilt save money compared
to the Florida League of Cities program. He gave the example
if Hurricane Hugo takes off the roof of the Country Club and
and the loss Is $300,000 the Village's exposure In this case
would be $26,000 from the loss fund.
Mr. Spahn stated that premiums are based on Joss history
and asked Mr Abella how his program works In this regard. Mr.
Abella responded that a bad year would have very little effect
on the Village's premiums because most of the claims are paid
from the loss fund maintained by the Village.
Mr. Canton asked about Miami Shores' loss record in the
past. Mr. Abella stated that the Village has had 1 bad year In,
the past 7. He sald the Village Is paying a high premium with
the League for the risk the Village has had.
Mr. Spahn asked if Gallagher provides safety programs.
Mr. Abella responded absolutely at no additional charge.
Mr. Fenn asked Mr. Abella where his company has been In
the past If the Archdiocese has had this program for the past
23 years. Mr. Abella stated that he has dealt with the
Community:Colleges and has been In other parts of the state.
Mr. Loffredo arrived at this time In the meeting.
Mr. Spahn asked If the Village's current insurance carrier
is responsible for current claims. Mr. Abella stated that the
current carrier Is responsible for claims made before October
1st. Mr. Loffredo asked who will administer and investigate
claims. Mr. Abella responded that Gallagher will handle It
locally.
Mr . 'Abel la stated that the Village does not ha=ve- to set up
100% of thein• Ipss fund for the f I rst year because >I t is very
unlikely'-that t t much will be used. He suggested that the
v 1 1 fags set up a least 000,000 to be prudent.
MI. Canton 'stated that there was a consensus of the
Counc1: J and tfiat the CoUnc 1=1 snou I d 1 nstruct Ms . Macdona I d to
present the program back to the Council at the Final Budget
Hear .t ng •
The meeting was adjourned at 8:40 p.
Attest: Gall MacdorraId
Village Clerk
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