Report to Mayor and City Council
Tuesday, April 05, 2022
Consent
SUBJECT:
Title
CONSIDER AN AWARD OF CONTRACT FOR INSURANCE BROKERAGE SERVICES TO ALLIANT INSURANCE SERVICES, INC. FOR THE PERIOD JULY 1, 2022 THROUGH JUNE 30, 2025 (CITY COUNCIL)
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I. SUMMARY
Since 2017, Alliant Insurance Services Inc. ("Alliant") has been providing brokerage services for City's insurance policies. As the broker of record, Alliant markets existing insurance to ensure cost effective renewals, identifies uninsured/underinsured exposures and recommends solutions to improve the City's coverages, and assists the City in complex claims situations. The original 3-year agreement and two optional one-year extensions will expire on June 30, 2022.
Staff is now asking City Council to approve a new contract services agreement with Alliant for the initial three-year term of July 1, 2022 through June 30, 2025, with two optional one-year extensions thereafter. The not-to-exceed contract sum for the initial three-year term of the proposed contract is $154,545. The not-to-exceed amount for the two optional one-year extension periods, if one or both of the options are exercised by the City (which would occur via subsequent approval(s) of the City Council), would be $54,636 for the first option period and $56,275 for the second option period.
II. RECOMMENDATION
Recommendation
TAKE the following actions:
1. APPROVE the Contract Services Agreement with Alliant Insurance Services, Inc. (Exhibit No. 1; the "Contract")).
2. AUTHORIZE the Mayor to execute the Contract following approval as to form by the City Attorney.
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III. ALTERNATIVES
TAKE another action the City Council deems appropriate.
IV. BACKGROUND
To protect the assets of the City from accidental loss, the City purchases various lines of insurance including excess liability, auto liability, cyber liability, fiduciary liability, property, crime and excess workers' compensation. Since 2017, Alliant has served as...
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