TO: Mayor and Commissioners
FROM: Henry Dachowitz, Chief Financial Officer
THROUGH: Terrence R. Moore, ICMA-CM
DATE: August 18, 2026
Title
APPROVE RESOLUTION NO. 120-26 TO RENEW PROPERTY INSURANCE POLICY WITH PREFERRED GOVERNMENTAL INSURANCE TRUST (PGIT)
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Recommended Action:
Recommendation
Staff is requesting approval to renew the Property, Excess Liability and Excess Workers' Compensation Insurance coverage with Preferred Governmental Insurance Trust (PGIT) in the amount of $2,463,921, covering the period from 10/1/2026 through 9/30/2027.
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Background:
Relation Insurance Services of Florida, Inc., (the “Broker”) acting as the insurance Broker for the City of Delray Beach (“City”), has presented a renewal quote for Property, Excess Liability and Excess Workers' Compensation insurance coverage for the period of 10/01/2026 through 9/30/2027.
After a thorough review, the Broker and City staff recommend renewing coverage with PGIT for all insurance lines. PGIT continues to provide the most cost-effective and service-oriented solution while maintaining a high level of service and comprehensive coverage. The total proposed premium for the upcoming coverage period is $2,463,921, representing a 4% decrease from the previous year with no reduction in coverage. This decrease is primarily attributable to lower property rates, which has reduced the overall property insurance premium.
Additionally, PGIT provides disaster recovery support through Preferred Priority/BluSky, at no additional cost to the City. This service works in coordination with the City’s Emergency Management Team to assist with response and recovery efforts during weather-related emergencies, including hurricanes, floods, and other perils. Based on the Brokers’ recommendation and staff’s evaluation, staff respectfully requests that the City Commission approve the renewal of Property, Excess Liability and Excess Workers’ Compensation insurance with PGIT in the amount of $2,463,921 fo...
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