Property and Casualty Insurance Brokerage and Other Risk Management Services

The Vendor is required to provide comprehensive Risk Management Services and to serve as the City’s Broker/Agent of Record for various lines of insurance coverage.
- The selected Insurance Broker/Agent will be responsible for securing insurance policies on a net-of-commission basis and delivering risk management-related services for the City’s upcoming insurance renewal period beginning March 10, 2027.
- If the City places any insurance coverage directly with any insurer, the Broker/Agent agrees to assist the City in the same manner and provide all services as if said insurance coverage would have been placed through the Broker/Agent.
- The City currently employs a Third-Party Administrator (TPA) to manage all claims.
- Insurance Placement and Management Services
•    Represent City in negotiations with insurers, underwriters and other parties with regards to the insurance program.
•    Prepare specifications and underwriting data to submit to insurance markets for the purpose of obtaining insurance quotations upon the request of the City’s Risk Management Division.
•    Assure that insurance policies are placed with insurers that are acceptable to the City, and obtain written quotes or denial letters from insurance companies contacted, along with their submitted responses.
•    Provide assistance to the City's Risk Management Division to design and implement a risk management and insurance program that will protect the City to the fullest extent possible at the lowest cost. This includes advising the City on any new or evolving insurance coverages or policies available in the marketplace that could apply to the City’s operations.
•    Prepare reports for the City's Risk Management Division regarding the current conditions of the insurance market that may affect the City's policies.
•    Provide, at no additional cost, on an annual basis, copies of computer catastrophe modeling studies to be used in the marketing of the property insurance program.
•    Present to the City a side-by-side comprehensive analysis of the proposals obtained, with recommendations for the selection of one proposal for the particular risk to be covered.
•    Accompany or represent the City in negotiations with insurers, underwriters, insurance regulatory authorities, and other parties when requested.
•    Serve as a resource for information on coverage issues, policy interpretation, claims issues, potential exposures, and other issues.
•    Assist with risk-related issues in contractual agreements, including verification that the City is requiring adequate insurance from City contractors and vendors, and to make sure the City’s insurance program is in compliance with any contractual requirements to which the City may be subject.
•    Review all insurance policies, binders, and invoices received for policies purchased by the City to assure their accuracy and appropriateness. Resolve all errors and coverage issues in such policies, binders, and invoices.
•    Submit originals of policies and endorsements to the City no later than one (1) month from the effective date of the policy.
•    Service existing insurance policies as necessary. This includes but is not limited to issuing certificates of insurance to provide evidence of coverage, promptly making policy changes, and obtaining endorsements.
•    Assist the City when requested, to report claims to the insurance carrier and monitor the handling and disposition of the claim to ensure the City's policy rights are protected.
•    Provide an annual report summarizing all insurance coverages that are in place, anticipated market conditions, recommendations and strategies.
•    Ensure the availability of qualified personnel for consultations and conferences with City officials, counsel and staff, and for public meetings on an as-needed basis.
- Loss Control Services
•    Provide a minimum of twelve (12) days, in-person, and loss control/safety training per year at no additional charge. Each day of training may include more than one topic and session.
•    Conduct three (3) annual on-site risk assessments at no additional charge.
•    Attend, on a quarterly basis, claim review meetings for both liability and workers’ compensation claims.
•    Accompany insurer’s representatives as they make site inspections. Review and comment on insurer loss control activities and recommendations.
•    Provide information concerning new exposures, regulatory requirements, and uninsurable risk.
- Claims Advocacy and Claims Services
•    Perform periodic analysis of claims reports to spot trends and offer advice as to risk management steps to curb potential future losses.
•    Maintain a database of the City’s earned premiums and loss history for the various lines of coverage for use in analyses and insurance marketing.
•    Serve as a Claims Advocate for the City upon request in communications with insurance carriers and the third-party administrator.
- General Risk Management
•    Provide a complete review/audit of policies for conformance with specifications and any negotiations conducted with underwriters.
•    Verify accuracy of policy language, coverage, endorsements, exclusions, and other terms and conditions consistent with placement, noting variations or changes from previous year.
•    Identify coverage gaps if such exist and provide recommendations.
•    Evaluate the appropriateness of alternative financing mechanisms such as partial or self-funding, assist in structuring of same including recommendation of retention levels, stop-loss limits, etc.
•    Other usual functions expected of an insurance broker/agent such as, but not limited to, accurately amending policies, providing interpretation of coverage, policy maintenance, binders and certificates, timely delivery of policies and/or binders, providing unbiased recommendations, answering questions and resolving issues.