Insurance Broker and Risk Management Services

The vendor is required to provide insurance broker and risk management services for include:
- Provide all labor, supervision, professional and technical support to provide the following services:
•    Marketing:
o    Identify and analyze all viable primary and excess markets for the city's various commercial insurance and bond needs.
o    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 management administrator 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 services 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 (quoted or declined to quote).
•    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 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.
•    The ability to provide modeling for wind and flood hazards and identify the city's property as to which flood zone they are located in.
•    The ability to provide modeling and claims services for cyber risk.
- Trend and risk management analysis:
•    Review and provide recommendations pertaining to: current insurance policies; analysis of various exposures to loss, analysis of risk transfer options, indemnity agreements and insurance clauses in purchase orders and contracts; review of any recommendations pertaining to current internal risk management policies.
- Training:
•    Provide training to city of department, 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.).
- Loss control services:
•    Provide safety and loss control engineering services on specific risks identified by the city (i.e., fire protection, equipment, specialized buildings, boiler and machinery exposures, etc.).
- Claims audit review:
•    Provide the appropriate qualified personnel to participate in quarterly claims audit reviews for workers' compensation, auto and general liability with risk management department, various departmental managers, and TPA.
•    Provide various analytical reports from TPA with permission from the risk manager when requested.

- Contract Period/Term: 2 years
- Questions/Inquires Deadline: September 11, 2025