To: Martin L. Cousineau, Finance Committee Chairperson
From: Katie Schoening, Risk Manager - Fiscal Services
title
RE: Approval of Contract Extension for Brokered Insurance Services - Arthur J Gallagher Risk Management Services, Inc. in an amount not to exceed $73,700.
recommendation
BOARD ACTION REQUESTED:
Approve amendment to extend insurance brokerage services contract for 1 year. October 1, 2024, through September 30, 2025.
BACKGROUND:
The current Risk Management Program is set up as the Genesee County Casualty and Property Self-Insured Trust. The Trust was established to maintain a fund for the purpose of paying claims, excess insurance expenses, and certain other risk-related expenses for the County property and operations. In 2019 an RFP for Insurance Brokerage Services was solicited and after a thorough evaluation, Arthur J. Gallagher Risk Management Services, Inc. was awarded the contract as the lowest responsive vendor.
DISCUSSION:
With the recent change in the Risk Manager position, I have been meeting with departments to understand the full operational exposures. I am requesting a one-year extension of the brokerage services contract. The vendor has agreed to maintain their current pricing for this contract extension. Additionally, with current market conditions and claim activity it would be best to revisit options next year.
IMPACT ON HUMAN RESOURCES:
n/a
IMPACT ON BUDGET:
This is a budgeted item. $36,850 to be paid from account 6770-196.00-801.004 and $36,850 to be paid from account 6780-196.00-801.004.
IMPACT ON FACILITIES:
n/a
IMPACT ON TECHNOLOGY:
n/a
CONFORMITY TO COUNTY PRIORITIES:
By continuing our current insurance broker services, it allows Risk Management to gain a better historical perspective of the County's unique exposures and assist with risk mitigation techniques to control losses and contribute to the financial stability of the County.
resolution
TO THE HONORABLE CHAIRPERSON AND MEMBERS OF T...
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