The Vendor is required to provide property and casualty insurance brokerage services on a guaranteed fee basis to provide the City the services.
- Design a property and casualty risk financing program for the City which will streamline risk-financing applications as much as possible, and utilize cost-effective self-insured retentions, insurance deductibles, and other risk financing techniques.
- The broker selected will have the exclusive right to provide insurance services to the City for the types of coverage included in the Proposal and any new property and casualty insurance sought by the City; and will be designated as agent of record for the City for that coverage.
- Broker will also procure new insurance, at the request of the City, as exposures are identified and the City determines to transfer the risk by insurance.
- Commercial property insurance including difference in conditions coverage for City properties with a total insurable value of over $375,000,000. The City also has an equipment breakdown insurance policy with a $100,000,000 limit of liability.
- The City has excess liability policies in the amount of $2,500,000 per occurrence and $5,000,000 annual aggregate with various self-insured retentions for commercial general liability, commercial automobile, public officials and employment practices liability, and police professional liability. The City also has an excess workers’ compensation policy with statutory coverage and $5,000,000 in employer’s liability coverage.
- The City maintains other miscellaneous property and casualty policies including but not limited to inland marine insurance, flood insurance, crime/employee dishonesty insurance, and special events liability, liquor liability, storage tank liability, and medical malpractice insurance with various deductibles and limits of coverage.
- Insurance Placement and Marketing Services
• Provide the city with a schedule and timetable for broker activities.
• Prepare underwriting submissions to risk financing organizations and provide a copy of its submission(s) to the city. The city will assist the broker by issuing general specifications, and by gathering and preparing information for the broker; however the ultimate responsibility for preparation of underwriting submissions and all related expenses will be borne by the broker.
• Provide a strategy for market coverages. Provide a prioritized list of risk financing organizations to be approached on behalf of the city, and a statement of why this market is able to meet the city’s needs. Include an evaluation of the financial stability of the proposed insurer to assume the financial risk that is proposed to be undertaken.
• Negotiate coverages, policy language, services, limits, retentions, and price on behalf of the city with the proposed insurer. Provide expertise in negotiations with insurers to obtain acceptable policy terms and conditions and in the preparation of manuscript forms and endorsements.
- Policy Review and Coverage Verification
• Ensure that all insurance policies provided by insurers conform to the requested coverage and these policies are provided to the city within 30 days after inception of coverage.
• Maintain a monthly status report, available to the city, identifying all outstanding insurance issues and provide a time line for resolving these outstanding issues.
• Issue insurance binders to the city prior to inception of any insurance coverage and until policy is issued.
• Review and evaluate new and renewal policy endorsements or related documents affecting coverage, services, or cost.
• Continuously monitor the financial condition of insurers providing insurance coverage to the city, including their ability to pay claims promptly and advise the city whenever any insurer is downgraded by any rating agency.
• Prepare analysis and recommendations of coverage being offered, including financial strength of insurer, limits, retentions, coverages, exclusions, and pricing.
- Claims Settlement
• Assist with claim documentation process and coverage interpretation to ensure the city receives maximum loss recoveries in a timely manner.
• Assist the city in obtaining all payments, including partial payments, for losses from insurance companies.
• Assist in resolving insurance coverage disputes with insurance companies.
- Risk Management Consulting
• Assist the city in preparing annual exposure updates to ensure compliance with terms and conditions of the various insurance coverages.
• Monitor and evaluate the city’s loss exposures for any operational changes that may have a significant impact on its risk management program.
• Serve as a resource to the city for information on coverage issues, policy interpretation, claim issues, potential exposures, and other issues.
• The broker must be available at all times upon reasonable requests to meet with the city commission, city manager, finance director, staff, and other city consultants in order to fulfill the broker’s responsibilities.
- Contract Period/Term: 3 years
- Pre-Proposal Meeting (Non-Mandatory) Date: February 17, 2026
- Questions/Inquires Deadline: March 5, 2026
