Insurance Broker Services
While the exact range and extent of services is subject to negotiation, it is anticipated that the selected broker shall provide, at a minimum, professional services and dedicated personnel necessary to perform the following:
1.
Develop a complete understanding of the Countys areas of exposure for the insurance policies listed in Attachment C and consult with County representatives about short and long term solutions.
2.
Evaluate existing insurance contracts and claims history and make recommendations concerning any changes, modifications, consolidations, and/or additions in the terms, conditions and coverage limits needed to protect the interests of the County.
3.
Identify programs, products and insurers capable of meeting the Countys insurance needs and prepare bid specifications for markets capable of quoting for upcoming renewals.
4.
When so authorized by County representatives by means of a broker of record letter, approach appropriate markets on behalf of the County to obtain pricing with respect to the program adopted by the County.
5.
If or when requested or recommended provide a minimum of at least three (3) competitive quotes from reputable insurance carriers for each type of risk.
6.
Act as an advisor to the County for specialty insurance coverages, that may be outside the normal market of the selected broker, and as authorized, negotiate and audit policies and rates and provide recommendations for County risk management staff.
7.
Present for County consideration, in an understandable format, an evaluation of the results of each solicitation, with a comprehensive financial analysis and recommendations for selection of an insurer or risk management plan for each type of risk.
8.
Negotiate on the Countys behalf the details of insurance contracts with selected carriers and audit resulting policies and rates for accuracy of coverage, terms and conditions, and compliance with financial arrangements and administrative procedures acceptable to the County.
9.
Provide verification of coverage as needed by the County to satisfy lessors, contractors and other parties from whom the County seeks services or use of equipment and/or facilities.
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10.
Provide answers to County staff, and obtain clarification from underwriters or adjusters regarding coverage or claims questions.
11.
Assist County staff in evaluating loss exposures related to new initiatives, including joint powers agreements, and, when requested, obtain quotes for applicable insurance coverage. It is understood that the broker would be entitled to additional compensation for new insurance policies that it placed and which are not listed in Attachment C.
12.
Provide assistance in the form of an annual stewardship report for County management as well as advisory services or other written reports or claims summaries as are customarily expected from a professional insurance broker.
