The vendor is required to provide property and casualty broker or risk management services for include:
• Evaluate existing insurance contracts; claims history; and make recommendations concerning any changes, modifications and additions in terms and conditions of coverage limits and deductibles needed to yield a comprehensive risk management program to protect the town’s interests.
• Risk and benefit analysis of self -insured workers’ compensation program and large sirs on lap coverages.
• Quarterly review of open claims for all property and casualty lines of business.
• Opine on multiple contracts/programs presented to the town to ensure adequate transfer of risk.
• Prepare a full market bid via professional and complete bid specifications one time during the term of this contract.
• Present to the town, in a clear and understandable format, an evaluation and recommendation for an insurer.
• Provide answers to the town risk manager and obtain any clarification from underwriters or adjusters for coverage, claim or loss control issues.
• Facilitate communication with defense counsel, insurer and the town on an as needed basis.
• Provide recommendations and participate in the town’s multiple safety committees.
- Contract Period/Term: 5 years