1. Evaluate the Authority’s operations to determine the major exposures to financial loss which should be insured or included within deductibles or retentions. (submit a written report). 2. Investigate and evaluate alternative insurance markets or buying techniques that were presented or not presented by the brokers to improve coverage or reduce costs, without sacrifice of financial security or service. 3. Analyze the Authority’s insurance policies, endorsements, premium charges and refunds; submit any comments and suggestions as to improvements that could be made in the terms and conditions of these various policies. 4. Assist in establishing specifications for coverage, service, etc., for competitive quotations if this approach to insurance marketing is deemed to be desirable. The Consultant shall serve as the contact for technical questions from carriers and brokers regarding the intent of the specifications and the underwriting data contained therein. The Consultant shall analyze all proposals for coverage and services, and submit a detailed analysis report and recommendations on the placement of coverage and services. The Consultant will not be responsible for the actual purchase and/or renewal of insurance for the Authority. 2 5. Review the actual administration of all insurance policies and endorsements. 6. Supervise the preparation of any required statements of value. 7. Assist in settlement of problem claims, including review of major reserves. 8. Audit Retrospective Rating calculations, if any, and prepare a written report. 9. Review insurance company loss prevention activities with client and assist in identifying loss trends and problem areas. 10. Review claims reporting procedures.
