Explanation
Background: Pursuant to RFQ026631 and as authorized by Ordinance No. 0864-2024, the City entered into an Insurance Brokerage and Risk Engineering Services Contract with USI Insurance Services, LLC for an initial one-year term with four (4) additional automatic one-year renewal terms with each renewal term subject to the appropriation of funds by City Council and the certification of funds availability by the City Auditor.
This ordinance authorizes the expenditure of funds for the initial term of the Insurance Brokerage and Engineering Services Contract with USI Insurance Services, LLC; the binding of coverage for all City insurance programs for the term November 1, 2026 through October 31, 2027; the expenditure of up to $617,600.00 from the Department of Development 2026 Employee Benefits Fund budget; the expenditure of an amount up to $62,400.00 from the Department of Development General Fund budget; the expenditure of up to $258,000.00 from the Department of Public Safety 2026 budget, the expenditure of up to $641,520.00 from Columbus Water & Power 2026 budget, the expenditure of $57,000.00 from the Department of Public Service 2026 budget for payment of brokerage and policy premiums associated with the City’s 2026-2027 insurance programs. This ordinance also authorizes the Director of Development to approve any necessary changes in the City's insurance program, such as additions of buildings, aircrafts, vehicles, modify coverage limits, and additions to type or lines of coverage during the 2026-2027 policy term.
The Contract Compliance Number for USI Insurance Services is CC-028916.
Fiscal Impact: The funding for this contract and the cost of all insurance premiums associated with insurance coverage necessary to protect City assets is budgeted and the funds are available within the Department of Development 2026 Employee Benefits Fund ($617,600.00) and the Department of Development General Fund ($62,400.00); the Department of Public Safety 2...
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