Title
Contract for Insurance Broker/Consultant Services (B)
Explanation
This summer, the City Commission directed staff to conduct a Request For Qualifications (RFQ) process for the purpose of selecting an insurance broker/consultant. The role of the insurance broker/consultant is to market and service the City's insurance programs with respect to property, casualty and excess worker's compensation. In addition, the Commission approved the use of an independent consultant, Waters Risk Management, to facilitate both the RFQ and selection processes.
Al Waters of Waters Risk Management designed and distributed the RFQ for the City. The process consisted of both a written response to the RFQ as well as an oral interview. The City received seven (7) written responses to the RFQ, with two vendors declining to go to the oral interview for various reasons, such as noncompetitive pricing, and an inability to adequately manage the power generation aspect of the account.
Mr. Waters conducted the oral interviews, along with staff, of the remaining five (5) vendors on September 23, 2005. Each vendor was asked eighteen questions, sixteen of which were provided to the vendors prior to the interview. Based on the responses to the interview questions, the evaluation team, along with Mr. Waters, established a ranking of the vendors. In addition, a summary spreadsheet detailing the written responses of each vendor interviewed is included in the backup. Based on the responses and the oral interviews, the evaluation team ranked the vendors in the following order:
* Marsh USA, Inc.
* Arthur J. Gallagher & Co.
* Hilb, Rogal & Hobbs of Florida
* Wachovia Insurance Services
* Public Risk Insurance Agency
Fiscal Impact
Funds for the insurance broker/consultant services are budgeted in the General Insurance Fund.
Recommendation
The City Commission: 1) hear a brief presentation from Al Waters and Waters Risk Management; 2) approve the rankings of the res...
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