The vendor is required to provide insurance carriers who are experienced and familiar with working with state municipalities on an annual or as needed basis.
- Evaluate submitted proposals by insurance carriers relative to compliance with insurance specifications, cost and ability to perform as required including relative solvency.
- Provide a detailed report of solicited policy renewal options available to the town.
- Review workers compensation injuries and make recommendations to control losses.
- Annual review of workers compensation prospective funding and underwriting renewal analysis including but not limited to the examination of claims experience, administrative services, legislative updates, network discounts, billing rate tiers resulting in effective and constructive negotiations with vendors.
- Review current experience, claims, and market trends, and assist in negotiating cost savings & renewal premiums with insurance providers on an as needed basis.
- Periodically review the liability and workers’ compensation insurance plans, claims, and fees and provide a reasonability analysis in comparison with industry norms.
- Ongoing risk and loss exposure identification, with suggestions for appropriate insurance and non-insurance treatment.
- Audit all policies, endorsements, rating adjustments, etc.
- Recommend proper limits, deductibles and coverage for exposures common to municipalities and specific to the town; provide unbiased and advantageous alternatives.
- Assist risk management in the development of property and casualty and workers’ compensation premium estimates to be incorporated into the annual budget, including attendance at leadership and public meetings.
- Contract Period/Term: 3 years
- Questions/Inquires Deadline: May 22, 2025