Property and Casualty and Workers’ Compensation Insurance Broker Services

The Vendor is required to provide insurance broker shall procure insurance proposals and provide insurance related services to the village for all areas of risk (excluding workers compensation risk and coverage), including:
•    Design, market, propose and implement the broadest insurance program that adequately and economically protects the village. 
•    Evaluate all proposals and make recommendations using dedicated personnel that provide professional services that are necessary to perform the type of service required by the village.
•    Represent the village in all negotiations with insurers, underwriters, intermediaries, insurance regulators and other parties (except legal issues).
•    Assure that insurance coverage is placed with reputable insurers that are eligible to conduct business in state and have the financial capacity to pay claims.
•    Monitor and assess the current market and provide information on market conditions.
•    Provide recommendations to the village on areas that might result in cost savings to the village.
•    Ensure the availability of qualified personnel for consultation, conference, marketing and service, including attendance at meetings and village board meetings as needed.
•    Attendance at quarterly claim review and check in meetings
•    Provide safety and loss control evaluation, training and education.
•    Request all necessary underwriting data from the village not less than seven (7) months prior to renewal. 
•    Utilize electronic means to request and receive data. 
•    A client portal is preferred.
•    Provide renewal plan including coverage line budgets not less than five (5) months prior to renewal.
•    Meet with village staff to review and explain data requests and renewal plans.
•    Prepare coverage submission and review with village prior to release.
•    Market the insurance program and any requested options to secure the broadest coverage at the lowest possible cost with financially secure insurers
•    Meet with key insurers and intermediaries to explain village data and include village staff and consultants as appropriate.
•    Provide a renewal proposal not less than 75 days prior to renewal, summarizing results of all insurers approached for coverage.
•    Bind coverage as directed by village.
•    Provide necessary renewal documents (binders, etc.) Prior to renewal.
•    Issue all insurance policies within 60 days of renewal.
•    Respond to questions and inquiries from the village. 
•    Serve as a resource for information on coverage issues, policy interpretation, claims issues, potential new exposures and other issues.
•    Assist with review of contracts and certificates of insurance from other parties.
•    Provide risk management expertise as requested.
•    Issue certificates of insurance as necessary.
•    Disclose all sources of revenue in placing and servicing the account, and all revenues to other providers, owned and non-owned.
•    Assist village with a risk actuarial plan.