Municipal Insurance Broker of Record Services

The Vendor is required to provide a broker relationship that allows the Town to evaluate available market options for municipal liability, automobile, property, excess, crime, and related coverages.
- The selected broker shall be compensated on a commission basis, policy fee basis, carrier-paid compensation basis, or other disclosed compensation arrangement, rather than through a predetermined annual broker fee.
- Must fully disclose all compensation, commissions, contingent commissions, placement fees, policy fees, service fees, or other remuneration connected to any proposed placement.
- Background and Current Coverage
• General Liability
• Fire Damage Liability
• Limited Care, Custody & Control
• Personal Injury and Advertising Injury
• Medical Payments
• Automobile Liability
• Uninsured/Underinsured Motorist Coverage
• Automobile Physical Damage
• Employee Benefits Liability
• Law Enforcement Liability
• Public Officials Liability
• School Leaders Liability
• Excess Liability
• Property Coverage
• Equipment Breakdown
- Coverage and Exposure Review
• Develop a complete understanding of the Town’s liability, automobile, property, public officials, law enforcement, school leaders, excess, crime, and related municipal exposures.
• Review the Town’s current insurance policies, renewal summaries, schedules, endorsements, deductibles, exclusions, limits, and sublimit.
• Identify gaps, overlaps, exclusions, or limitations in current coverage.
• Review whether current limits, deductibles, retentions, and sublimit are appropriate based on the Town’s exposures, claims history, property values, vehicle schedule, public safety operations, Board of Education exposures, and municipal operations.