Property and Casualty Brokerage Services

The vendor is required to provide for brokerage firm will be responsible for providing a comprehensive range of services related to the city’s property and casualty liability insurance coverage.
1. Insurance placement and market analysis:
• Provide certificates of insurance requested by the city within one business day of the request to both the city and the third party indicated by the city. 
• Respond in writing within five days of the city’s request for new coverage and modifications in existing coverage. 
• Notify the city in a timely manner about changes or proposed changes initiated by parties other than the city affecting the city’s insurance coverages. 
• Obtain insurance quotations inclusive of direct or indirect commissions, rebates, profit (contingency) commissions, excess and surplus lines commissions, wholesale commissions, and any other fees on all insurance, excess insurance, and reinsurance placed through the broker on behalf of the city. 
2. Claims management and risk mitigation:
• Provide expert support in managing excess and property claims, resolving complex issues, and offering recommendations for risk mitigation strategies.
3. Risk management and ERM support: 
• Provide expert support to implement an ERM program that aligns with the city’s needs and insurance portfolio.
4. Consultation, reporting and compliance:
• Arrange for direct payment of premiums to insurance companies or their equivalents by the city and for direct payment of claims by insurance companies to the city. 
• Prepare a written, annual stewardship report to the city including schedule of policies in force, coverage provisions, premiums, comparisons with prior year premiums, insurance claims experience for current and prior policy and accident years on paid, incurred, and ultimate bases, and recommendations for possible adjustments to insurance coverage for the next policy year. 
• The report should provide a summary of broker and carrier support services rendered during the prior year, with recommendations for broker and carrier services for the subsequent year. 
• Assist in preparing underwriting data for renewal negotiations in cooperation with city risk manager and risk management officer.
• Conduct underwriting audits as determined by broker or as requested by city, in conjunction with city risk manager and risk management officer.
• Service property claims, including claims analysis, reporting and monitoring and involvement in loss adjustment, conducting claims audits of insurers in conjunction with city’s risk manager and risk management officer.
• Coordinate property appraisals of insured city assets with risk management and city safety to evaluate and adjust values as necessary. 
• Prepare appraisal reports and summaries for review. note that not all city properties require inspection; those valued over $5 million follow a three-year inspection cycle. 
• Broker shall include city risk manager and risk management officer in all negotiations with underwriters involving placements of all of the city’s insurance and excess insurance programs.
• Broker shall assist the city staff as requested to develop insurance requirements for the various contracts and permits issued. 
• Broker shall utilize carriers that have a minimum rating from a.m. best of “a” and financial category rating of “viii” or carriers that are admitted to write in the state.
5. On-demand assistance for 2028 Olympics:
• Enhanced coverage analysis: evaluate and provide recommendations for any additional insurance needs or adjustments specific to the increased exposure and unique risks associated with the Olympics. 
• Emergency response support: offer immediate assistance for risk management and insurance issues that may arise during the event, including providing expert advice on claims management, risk mitigation strategies, and any other insurance-related concerns. 
• Coordination with event organizers: collaborate with Olympic event organizers and other relevant stakeholders to ensure comprehensive coverage and address any emerging risk factors. 
• Additional consultations: be available for consultations and meetings related to the Olympics as required, including providing specialized expertise to address the city’s concerns during this high-profile international event.
- Contract Period/Term: 5 years
- Questions/Inquires Deadline: July 15, 2025