Insurance Broker of Record Services

The Vendor is required to provide and recommendations for insurance brokerage and consulting services.
- The services shall encompass all brokerage and consulting services for insurance renewals, including a thorough policy renewal presentation with recommendations, analysis of proposed coverage and policies issued, loss control meetings with County officials and consultants, and carrier negotiations.
- Types of coverage that the broker will assist with include but are not limited to environmental, aviation, liability, property, and excess.
- Services which support the goals of this job title and compensation review and analysis.
- Work with county personnel to assess risk and design, develop and maintain a cost-effective insurance program;
- Review current programs, determine risk tolerance and establish future objectives, strategies to minimize county claims, and maintain a cost-effective risk management and insurance program;
- Identify and negotiate on the county’s behalf with insurance carriers and keep the county informed of developments. the selected broker will be authorized by the county in all discussions and transactions with the insurance company, provided the broker does not place insurance on the county’s behalf unless authorized by the county;
- Monitor financial conditions of insurance companies and notify county of any changes in am best rating or credit rating;
- Follow-up with insurance carriers to obtain the timely issuance of policies and endorsements;
- Act as liaison between insurance company and county;
- Review existing or proposed policies to be reviewed for accuracy, endorsements and conform to negotiated coverages;
- Inform county of changes in the insurance markets and annual forecast of rates;
- Issue insurance certificates on demand;
- Provide insurance quotes from a carrier with a or higher rating with am best company;
- Assist the county in identifying its insurable property and casualty exposures and to recommend professional methods to reduce, assume or transfer the risk of loss;
- Review the county’s risk and assist the county in the preparation of its annual insurance budget.
- Assist the county in developing an affordable program to ensure compliance with the federal and/or state regulations for any repaired or newly constructed facilities as conditioned upon receipt of federal or state funding.