Insurance Broker and Risk Management Consulting Services

The vendor is required to provide broker of record for the placement of multiple lines of excess insurance when current excess policies are ready for renewal, provide consulting services for a comprehensive risk management program, and serve as the agent/broker of record for the placement of multiple lines of excess insurance when current excess policies are ready for renewal.
- Conduct full reviews of the city’s insurance program
• The successful consultant shall perform the services necessary to replace insurance coverage(s) expiring November 22, 2025, and replace expiring insurance for every year thereafter during the contract term.
• Analyze existing policies for errors or omissions, adequacy of coverage, adequacy of limits, appropriate deductible and retention levels, significant restrictions in coverage, concurrency of coverage, duplication or gaps in coverage, coordination of coverage, suitability of forms, financial stability of insurers, and insurer service capability.
• Analyze and advise on the use of deductibles, self-insurance, risk transfer, and other cost reduction or risk management measures to produce the most feasible insurance coverages
- Research insurance carriers and types of coverage that will meet the needs of the city, and place the city with the broadest insurance coverage program with stable insurance carriers.
• At the direction of the city’s risk manager, prepare insurance coverage specifications and market programs before expiration of policies, identifying markets being approached, coverage, and deductible and retention options being considered.
• Search the market annually for the best available coverages at the lowest cost.
• Develop criteria for the identification of qualified insurers and, when appropriate, reinsurers, giving due consideration to all insurance markets throughout the world including, but not limited to, domestic stock and mutual companies, reciprocals Lloyds, foreign companies, and other markets. no insurance carrier shall be utilized that is not acceptable to the city in its sole discretion.
• Develop and submit insurance policy specifications for selected markets and vendors that address exposures and losses experienced by the city. prepare all materials required in connection with soliciting insurance carriers.
• Assist in determining proper limits and coverage for exposures common to cities and specific to the city of mesa.
• Prior to the expiration of current policies, provide renewal and unbiased alternate insurance proposals within a reasonable period of time for the city’s review and presentation to city council.
• Act as the liaison and advocate for the city with underwriters and carrier claims staff, gathering and presenting required applications for insurance, and underwriting data and claim information to carriers for the purposes of procuring coverage or resolving claims.
• This would include assistance in reporting claims and assisting in the recovery of monies from insurers, when applicable.
• Place, cancel, and otherwise handle all placements, binders, policies, renewals, and endorsements. solicit proposals from insurance carriers, review and evaluate proposals submitted, and make recommendations to the city as to such proposals.
• Place first-dollar coverage for lines of coverage not provided in the excess insurance program as may be requested by the city.
• Assist in negotiating the terms of insurance policies including the finalization of manuscript policies.
• Deliver and present a proposal to the risk manager and staff covering all carriers, coverages, premiums, agent and broker fees, and terms and conditions concerning excess coverage placements for the coming year.
• Such proposal must clearly delineate any changes in coverages from that of the prior year and, at the time the above proposal and presentation is made, fully disclose the percentage and amount of commission to be paid to any excess insurance broker, intermediary, or wholesaler used in the placement process and disclose whether the insurance is placed on a net basis.
• Assess carrier and potential carrier stability, solvency, and service record.
• Present the final proposal to the city’s risk management and management.
• The presentation must include information covering all carriers, marketing, coverages, premiums, agent and broker fees, and terms and conditions concerning excess coverage placements for the coming year.
• Proposal must clearly delineate any changes in coverages from that of the prior year and reasons for the changes.
• When carriers, intermediaries, or “wholesale” brokers do not allow insurance placement on "net of commission" basis for a particular insurance policy(-IES), disclose all commissions, per individual policy quote, in writing and provide an offset to the annual service fee of any commissions received.
• This applies to all lines of coverage, regardless of the consultant’s business relationship to a particular carrier, intermediary or “wholesale” broker.
• Provide professional proposals of all carrier quotations and reveal commission rates (if applicable) received from carrier underwriters, wholesale brokers or other intermediaries, with detailed recommendations to the city’s risk manager outlining which proposal(s) would best meet the city's needs concerning coverage and cost.
• Review policies upon receipt to verify conformance to specifications and negotiations and request and monitor required changes. verify all requested new and renewal policy terms, conditions, rates, and premiums.
• verify the accuracy and adequacy of policies, endorsements, coverage, and premiums, noting in writing any variations from the previous year, or from conformance with specifications and any negotiations conducted with underwriters.
• Issue and deliver valid and timely binders for insurance policies purchased by the city.
• Assure that insurance policies being purchased will be delivered in accordance with the proposal(s) that were negotiated and accepted by the city
• Issue and review insurance binders, certificates of insurance and other documents in a timely manner and ensure all wording is complete and accurate.
• Bring to the attention of the city, any additional coverages that may become available in the marketplace that could be advantageous to the city
- Policy administration & maintenance
• Act as insurance company liaison.
• Coordinate loss control activities between the city and insurers, including facility visits and inspections, review city operations, goals, and objectives, and perform a program audit.
• Provide guidance regarding insurer’s claims and loss reporting procedures.
• Assist the city in filing claims with insurers.
• Resolve coverage questions/disputes in a timely manner.
• Monitor insurance company services.
• Monitor insurer security.
• Verify insurance company audit calculations.
• Provide day-to-day advice and counsel on claims-related matters.
• Review and process endorsements, exceptions, and other changes to insurance policies, including explanations and recommendations to the city.
• Review and approve all premium audit statements and invoices, including verification of all premiums, and provide notice of changes in premiums, terms and conditions, cancellations, and all communications from insurers.
• Assist the city in communications with carriers regarding coverage issues
- Issue required certificates of insurance to all interested parties
• Review certificates of insurance to determine their conformance with all requirements and maintain a current file of all such certificates of insurance.
• Provide advice to the city, including assistance, in connection with litigation or other proceedings for the settlement of disputes.
• Periodically review and identify changes in loss exposure. periodically review the adequacy and limits of insurance policies with regard to effective and economic risk retention, and transfer and recommend improvements, changes or additions relative to the city’s activities.
• Upon request, provide timely, written interpretation of coverage.
- Risk management programs
• Provide advice and counsel on city’s risk management matters including legislative issues, contract language reviews, and certificate of insurance inquiries.
• When requested, conduct city risk management audits.
• Analyze the city’s total risk management program to ensure that city policies and procedures are compatible and provide for a comprehensive approach. provide input on other public entity procedures that are non-proprietary.
• Provide recommendations regarding the scope and limits of insurance policies for city consultants, contractors and subcontractors.
• Assist the city in the review and development of provisions in contractual agreements relative to insurance, liability and risk allocation.
• Review insurance requirements and indemnity clauses in agreements.
• Consult with city staff regarding contract issues, special events or unusual exposures, as needed.
• Coordinate all loss control activities between city and insurers, including plant visits and inspection review meetings. coordinate loss control/safety services desired by the city that are available from the insurers.
• Conduct training to the city’s risk management and other city personnel on current insurance trends, loss control protocol, basic insurance language, and risk information on certificates of insurance
- Other broker services
• Provide advice and guidance regarding the property valuation process to obtain accurate premium calculations.
• Assist city in establishing tenant users’ liability insurance policy for facility users and special events.
• Advise the risk manager of changes in the insurance industry and any trends which may have an impact on the city’s risk management program and related costs.
• Attend meetings as requested – may include meetings with city council or city staff.
• Participate and make available professional personnel for routine telephone consultations, meetings, research and advice as required by the city.
• Provide city of mesa’s risk manager, auditor, or their representative, full access to the broker's working files at the city's convenience and discretion.
• Conduct training for risk management and other city personnel on current insurance trends, loss control protocol, basic insurance language, and risk information on certificates of insurance.
• Perform other insurance broker and risk management related services on an "as needed" basis.
• Assist the city of mesa with periodic replacement cost valuation of property inventory and vehicle and equipment assets.
• When requested, assist in ascertaining replacement cost value for property.
• Upon request, provide a timely, written interpretation of coverage.
• Perform other services customarily expected of a broker for the duration of the contract term.
- Contract Period/Term: 2 years
- Questions/Inquires Deadline: March 18, 2025