Insurance Consultant Services

The vendor is required to provide insurance consultant services to support the city in evaluating and improving its property and casualty insurance program.
1. Policy review and coverage assessment
•    Review all current property and casualty insurance policies.
•    Evaluate coverage adequacy for municipal assets, vehicles, and specialized facilities.
•    Identify potential gaps, overlaps, or areas of underinsurance.
•    recommend updates or changes to improve future coverage
•    Review and advise on the city’s asset inventory requiring insurance coverage.
•    Present findings and recommendations to the office of the mayor and other designated city officials.
•    Work with city staff to gather exposure and loss data to support coverage evaluation
2. Cost and value analysis
•    Review the cost-effectiveness of current premiums, deductibles, and coverage limits.
•    Compare the city’s coverage and pricing to similar municipalities
•    Suggest changes that improve cost-effectiveness without reducing protection.
•    Recommend policies with non-commission-based premiums when feasible to support transparency and cost-efficiency.
3. Risk profile evaluation
•    Analyze the city’s risk exposure, including high-value and specialized assets such as the, municipal dams, and transit infrastructure.
•    Ensure policies adequately address environmental liability, public safety exposure, and operational continuity.
•    Include the zoo and dams in all asset inventory reviews, site-specific risk evaluations, and strategic coverage planning.
•    Coordinate with city staff to evaluate insurance requirements and regulatory considerations related to dam infrastructure and flood risk protection.
•    Review and recommend coverage specific to animal liability and specialized property risks associated with operations.
•    Provide guidance on risk mitigation strategies, including planning for catastrophic loss and operational continuity
•    Assist city staff in coordinating with carriers on claims-related inquiries, documentation, or follow-up as needed.
4. Strategic guidance and procurement support
•    Prepare clear coverage specifications for review and approval by the office of the mayor
•    Solicit proposals from insurance carriers and provide written recommendations that include:
o    The reasoning behind each recommended policy or carrier
o    Justification for any exclusions, limitations, or omissions
•    Review renewal proposals and advise on terms, exclusions, and endorsements
•    Ensure approved coverage is in place on time, with no gaps in protection
•    Recommend ways to simplify or bundle policies and explore alternative coverage options
•    Work with legal counsel to confirm that policies meet all requirements and support the city’s risk strategy
•    Communicate with carriers to clarify policy terms and assist with rate negotiations
•    Support the mayor or designated city staff in working directly with carriers as needed
•    Assist in preparing documentation to support future insurance procurement.
    
- Questions/Inquires Deadline: November 18, 2025