Title
A Resolution of the City of Coral Gables authorizing the City Manager, or Designee, to negotiate and execute a contract with AON Risk Services, Inc. of Florida and Arthur J. Gallagher Risk Management Services, Inc. for the ancillary lines of insurance coverage for three (3) years with two (2) additional two (2) year renewal options, with the first year premium fees not to exceed $71,556.00 for the period of May 1, 2009 to May 1, 2010. (Recommended through Competitive Selection) (Funding Source: Insurance Fund)
Body
The City entered into a three year contract with a three year renewal option that began on May 1st, 2003 for Risk Management and Insurance Brokerage Services with Arthur J. Gallagher Risk Management Services, Inc. /AON Risk Services, Inc. of Florida after an RFP process. In October of 2008, the City advertised RFP 2008.10.31 - Risk Management & Insurance Brokerage Services for the Property and Casualty Lines of Insurance Coverage. This bid was protested and a decision was made to start the process over and in January of 2009, the City advertised RFP 2009.01.05 - Risk Management & Insurance Brokerage Services for the Property and Casualty Lines of Insurance Coverage. This RFP created a controlled platform for the City to obtain competitive bids on insurance broker service fees and competitive quotations on insurance policies (net of commissions) through a market assignment process.
The end result of this process is the Insurance Advisory Committee making a recommendation to the Commission to authorize City staff to execute the appropriate Broker of Record letters for the ancillary insurance policies for assignment purposes to more evenly distribute the total number of policies handled by each of the Property and Casualty Insurance Brokers (AON & Arthur J Gallagher).
The following is a list of the policies represented by this resolution: Crime Insurance, Statutory AD&D (Police & Fire), Travel Accident, Public Officials Bond, Storage Tank Liability, Sports Medical, and Sports Liability.