Explanation
Background: On December 3, 2018 the Department of Finance and Management, Real Estate Management Office, solicited a Request for Proposals (RFP) for Insurance Brokerage and Risk Engineering Services for Property Casualty, Boiler & Machinery, Aviation, General Liability, and Excess Liability Insurance (RFQ011046). The Real Estate Management Office (REMO) sought to identify qualified insurance brokers, insurance agencies, or insurance agents to provide insurance brokerage services for the City’s property casualty, boiler & machinery, aviation, general liability, and excess liability insurance programs.
Responses to the RFP solicitation were due by 1:00 p.m. on January 24, 2019, and the City received a total of five (5) responses. Each response was evaluated and scored by the five (5) members of the Proposal Evaluation Committee. Subsequently, the Committee met and discussed the proposals and the scoring, and determined that USI Insurance Services, LLC presented the most responsive proposal, and is the best qualified responder to provide insurance brokerage and risk management services to the City having scored the highest in total points and also achieving the highest score in all five (5) of the evaluation categories.
The City desires to establish a five (5) year contractual relationship with USI Insurance Services, LLC as the City’s insurance broker with an initial one-year term and four (4) additional automatic one-year renewals. Each renewal term is subject to the appropriation of funds by City Council and the certification of funds availability by the City Auditor.
Based on the City’s existing insurance program, the insurance brokerage and risk engineering service fee for the initial one-year term and for each of the four automatic renewal terms of the Contract will be $47,000.00 per year. The brokerage fee may be adjusted, as agreed upon by both parties, if the City significantly expands its existing program or adds new types of coverage. ...
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