Insurance Brokerage and Consulting and Claims Administration Services

The Vendor is required to provide insurance brokerage firm under an indefinite delivery, indefinite quantity contract to develop and manage a comprehensive property and casualty risk financing program.
- Responsible for sourcing, recommending, and negotiating risk transfer and mitigation strategies for various exposures, including but not limited to general liability, property, workers compensation, automobile, fidelity, directors and officers liability, and other specialized coverages.
- The program will include:
• Commercial Property Insurance
• Excess Workers Compensation Insurance
• Management Liability Insurance (including fiduciary, crime, directors and officers liability, and employed lawyer’s professional liability coverage)
• General Liability (Primary and Excess)
• Cyber (Primary and Excess)
• Automobile
• Inland Marine
• Professional Liability
• Employment Practices (Primary and Excess)
• Boiler and Machinery
• Terrorism and Sabotage
• Fine Arts
• Accidental Death and Dismemberment
• Law Enforcement
• Other services relating to the above-referenced services may be periodically required (i.e., consulting services, training, etc.).
- Methods available to city for handling risk, including, but not limited to complete self-insurance, captive insurance, excess insurance or any combination thereof.
- Appropriate risk retention levels, and related attachment points and limits for risk transfer, considering city claims, reserves, and loss history; city responsibilities as a city-chartered public benefit corporation; and the availability and cost of various financing options, including premium proposals, legal fees, and incurred losses.
- A range of risk financing and management mechanisms to employ that are consistent with and which will accelerate the progressive transition of city insurance purchasing strategy;
- Coverage enhancements that are consistent with agreed upon program goals, balancing city loss experience with prevailing market conditions.
- Design of highly cost-effective financing strategies which will provide protection against catastrophic loss, taking advantage of city financial ability to retain risk; and
- Coverage specifications, including issues related to coverage continuity.
- Contract Period/Term: 1 year
- Pre-Proposal Conference Date: March 20, 2025
- Questions/Inquires Deadline: March 21, 2025