Explanation
Background
The City of Columbus, Department of Finance and Management entered into a contract with Arthur J. Gallagher Risk Management Services, Inc., as authorized by Ordinance No. 0943-2009, passed on 07/8/09 to provide insurance brokerage and risk engineering services for the city's insurance programs for a five year period, consisting of an initial one-year term and four automatic consecutive one-year terms, each subject to appropriation of necessary funds by City Council and certification of availability of funds by the City Auditor. The fourth and final one-year renewal term terminates on July 31, 2014.
The Department of Finance and Management had planned to solicit Request for Proposals for insurance brokerage and risk management services in April, 2014. However, due to the significant water intrusion event that occurred in the 120 Marconi Boulevard building on January 7th & 8th of 2014 and the resultant insurance claim to be settled, it is not in the city’s best interest to change insurance brokers until this claim is satisfactorily resolved. Consequently, the Department of Finance & Management desires to extend the existing Insurance Brokerage and Risk Engineering Services contract with Arthur J. Gallagher Risk Management Services, Inc. for a one-year term for the period August 1, 2014 to July 31, 2015 under the same terms and conditions of the original contract. The Department of Finance and Management plans to solicit Request for Proposals for the city’s insurance brokerage and risk management services in early 2015.
This ordinance authorizes the Director of Finance and Management to execute those documents necessary to extend the Insurance Brokerage and Risk Engineering Services contract with Arthur J. Gallagher Risk Management Services, Inc. for a one-year term for the period August 1, 2014 to July 31, 2015; to bind coverage for all city 2014-2015 insurance programs; and, to expend up to $406,000 from the Department of Finance and Ma...
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