Insurance Broker and Agent Services

The vendor is required to provide from qualified sources to establish a contract through competitive negotiations for insurance agent broker services.
1. The successful offeror shall provide all labor, supervision, professional and technical support to provide the following services:
• Marketing:
a. Identify and analyze all viable primary and excess markets for the city's various commercial insurance and bond needs
b. Prepare appropriate marketing and underwriting information to be submitted to potential insurers and related services companies.
• Arrange meetings between appropriate underwriters or service providers and the city's risk manager for the purpose of presenting the city's account in the most favorable light.
• Obtain insurance or related services quotations and provide three (3) year cost projections for all viable quotes.
• Assist the city's risk manager in negotiation the most favorable insurance rates and coverages or service contracts.
• Obtain and review all commercial insurance policies and service contracts for correctness and accuracy relating to terms and condition, rates, price, carrier ratings, admitted and non-admitted carriers, and gaps or overlaps in coverages and provide recommendations.
• Prepare annual marketing reports identifying the insurers solicited on the city's behalf and the response received from the insurers
• Keep the city's risk manager abreast of new markets, products, new capacity and potential financially troubled carriers.
• Provide updates on reinsurer treaties that would affect the city's insurance programs.
• Provide review of city contract as needed for appropriate insurance requirements and risk exposures.
2. Trend and risk management analysis:
• Provide recommendations pertaining to: current insurance policies; analysis of various exposures to loss, analysis of risk transfer options, indemnity agreements and insurance clauses in 1purchase orders and contracts; review of and recommendations pertaining to current internal risk management policies.
3. Training:
• Provide training to city, department of finance, risk management personnel on an "as needed" basis (i.e., changes of coverage under new policies or policy forms, changes in reporting requirements to insurers, web-training on pertinent risk management topics, etc.).
4. Loss control _services:
• Provide safety/loss control engineering services on specific risks identified by the city (i.e., fire protection, equipment, specialized buildings, boiler and machinery exposures, etc.)
5. Claims audit review:
• Provide the appropriate qualified personnel to participate in quarterly claims audit reviews for workers' compensation, auto and general liability with the risk management department, various departmental managers, and TPA.
• Provide various analytical reports from TPA with permission from the risk manager when requested.
6. Property values and cope:
• Assist in the on-going assessment of reasonable statement of values and cope information for all city property
• Coordinate risk control inspections of a minimum of five (5) city buildings, with the city's property carrier and underwriter and assist in formulating responses, if requested.
7. Other associated services:
• Provide other professional and technical services as required by the city.
• Include, but not limited to, assisting in structured settlements; insurance disputes between the city and the city's insurers; review of reserve amounts on specific claims, obtaining technical information from outside sources and providing related services on insurance and risk management issues.
• Provide technical assistance and become knowledgeable TPA claims systems to run reports from a remote site other than the office of the risk manager.
8. Account executive:
• The offeror shall designate an account executive who shall be responsible for administration of this contract and who shall be the point- of-contact for the city's risk manager
• The event of a change in the account executive, the offeror shall notify the contract administrator and risk manager in writing.
• Include the name, title, address and phone number of the account executive assigned to the contract.
9. Information furnished by the offeror:
• Offerors are to make written proposals, which present the offerors qualifications and understanding of the work to be performed.
• Provide all information considered to relevant to the offeror's qualifications for this project.
• A company profile that shows the ability, capacity and skill of the offeror, their staff, and their employees to perform the services required within the specified timeframe.
- Contract Period/Term: 1 year