Property and Casualty and Liability Insurance Agent of Record Services

The Vendor is required to provide property and casualty and liability insurance agent of record services for include:
1. Risk analysis
•    Understand the city’s cis annual reports that provide complete insurance schedules, annual and cumulative loss histories. 
•    Provide replacement valuation for facilities, building, and equipment based upon original costs or professional appraisals. 
•    Monitor claims trends and identify the city’s risk exposure and develop solutions. 
•    Assist with the implementation of risk management and transfer alternatives for the city.
•    Respond to audit findings, if any, offering recommendations for either compliance or alternatives.
2. Insurance administration
•    Evaluate the city’s existing insurance program, and as necessary recommend changes to terms, conditions, or coverage limits to ensure the program is affordable and adequately protects the city 
•    Assist the city staff with all claims and losses; review procedures, reserves, and settlements. 
•    Assist city staff in updating and reporting to the insurance carrier any changes in their property, scheduled equipment and automobile insurance schedules. 
•    Review city contracts relative to risk management, including insurance policies and professional service agreements. 
•    Negotiate with underwriters on the city’s behalf and obtain insurance coverage that best meets the city’s needs and requirements at the best cost, while also advising on the carrier’s services, claim handling process, etc. 
•    Serve as the intermediary between the city and the provider when there is a reasonable coverage dispute
3. Financial analysis
•    Provide budget planning estimates for insurance premiums.
•    Provide cost-benefit analysis for any changes in insurance coverage or reallocation of risk management funds. 
•    If requested, assist with premium allocation of city insurance premiums each year for annual budget planning and preparation.
4. General risk management services
•    Advice the city of developments in the insurance market; rate, value, and other cost trends; indications of any problems emerging in the account; and other facts which might affect the city’s risk management program. 
•    Review with city staff the appropriate property, liability, and automobile claim reporting procedures. 
•    Schedule consistent meetings with city staff to review claim history and make risk management recommendations based on loss trends.
5. Other general services
•    Establish and maintain an effective and professional working relationship with city staff. 
•    Meet with city staff to explain insurance procedures and coverage. 
•    Attend city council and budget committee meetings if requested. 
•    Review legislative activities and advise city staff concerning the effects of legislative changes on insurance coverage and costs. 
•    Advise the city of other services available from agencies or insurance companies. 
•    Provide professional advice on a specific project basis, and general consultation on public property and contracting matters, as needed. 
•    Attend the cis annual conference and advise staff of upcoming changes in property and liability insurance, trends in the short- and long-term insurance developments, and other risk management trends.