Broker Services

The Vendor is required to provide broker services for include:
- Administrative
•    Remit all binders and policy confirmation with 72 hours of being bound with insurers.
•    Remit all policies, endorsements on a timely basis.
•    Provide written summary of limits, conditions and exclusions with every policy issued.
•    Provide a written schedule of insurance.
•    Provide timely advice and response to insurance related matters.
•    Issue certificates of insurance within 2 business days and any other evidence of insurance required from time to time - 2025 was excess of 150 certificates.
•    Provide annual stewardship report to management that includes insurance coverages placed, loss analysis, goals and objectives for the coming year.
- Risk management services
•    Identification of risks through site reviews, inspections and discussions, including risk consulting services and recommend insurance coverage needs.
•    Review of contracts, leases and agreements for insurance and indemnity requirements. 
•    Approximately 100 per year.
•    Obtain detailed loss statistics from insurers, review and provide copies regularly.
•    Identify the loss control services that are anticipated to be provided by insurers and identification of uninsured risks.
•    Review and provide copies of insurance company inspection reports.
•    Lead and deliver various seminars to educate and advise departments with the city on various aspects of risk management, loss prevention and control techniques 
•    Provide training and seminars for city staff if requested
- Claims management
•    Provide overall advice on claims matters.
•    Report losses to insurers immediately upon notice from the city and assist with the administration and handling of claims.
•    Make arrangements for claims adjuster on behalf of the insured, if necessary
•    Provide advocacy services on coverage issues when they arise
•    Assess subrogation potential if required
•    Expedite payment of loss from insurers.
- Insurance placement services
•    Keep abreast of insurance market trends and seek out the most favorable terms and conditions.
•    Data collection for renewal purposes. 
•    Review appropriateness of coverages, limits and deductibles.
•    Evaluate the stability and financial condition of the city’s insurers and any prospective insurer.
•    Annual review of insurance program. 
•    Provide city’s application and submissions to underwriters for quotation.
•    Inform city of renewal developments and desirability of insurer meetings.
- Meetings and general services
•    Provide an annual service report including the following information: 
•    Market status report; 
•    Program performance, (i.e. Cost relative to prior years, program enhancements or reduction; and recommendations 
•    Meet with city staff to review insurance, claims or risk management issues 
•    Pre-renewal review meetings and information gathering. 
•    Review and approve insurance specification submission to underwriters. 
•    Obtain quotation and terms and conditions from insurance companies and agree on bais for renewal and arrange and confirm placement.