Specifications include, but are not limited to: The City is seeking an agent of record that can comprehensively provide the following services: RISK ANALYSIS Annually review the City’s insurance program to include general and auto liability, property, workers’ compensation, and other insurance-related matters; include a report on annual and cumulative loss histories and insurance budget. Respond to audit findings, offering recommendations for either compliance or alternatives. Assist in the implementation of the risk elimination and transfer alternatives approved by the City, analyzing retention and transfer of risk. Identify the City’s risk exposures and develop solutions, including preparation of a detailed analysis based on periodic visits and inspections of all City properties. Advise and prepare written communication on risk management-related topics such as updates on pertinent regulations, the condition of insurance marketplace, new legal requirements, and other insurance changes. INSURANCE ADMINISTRATION Develop and implement an annual Risk Management Plan, as mutually developed by the Agent of Record and the City. Assist in the timely reporting and settlement of claims by providing supervision of and advocating on all claims, losses, disputes, issues, and problems. Produce periodic reports on the status of claims. Advocate for the City in marketing and retaining insurance coverage; place insurance at the most reasonable cost consistent with the sound indemnity of the insurer. Administer insurance policies, including review and analysis of policy terms and coverage. Verify insurance and provide certificates of insurance as needed.
