The DCP seeks to engage an insurance brokerage firm to procure Directors and Officers (D&O) insurance and/or otherwise recommended fiduciary liability insurance, as well as potentially other coverages that may be required (such as cyber liability insurance or additional insurance coverages as might be appropriate for the Plan). The DCP requires an experienced insurance broker, acting in a fiduciary capacity, to educate, consult, and advise on insurance products, specifically fiduciary liability insurance, Directors and Officers (D&O) and associated liability coverage, and other related or recommended types of coverage in connection with a governmental Section 457 DCP. Services will include educating the Board and staff about the exposures and products, answering questions about the policies and industry trends, and making presentations and recommendations to the Board (through staff) on industry products and related information. Consultants with experience working with the City of Los Angeles or other public employee retirement plans, particularly governmental 457(b) plans, are encouraged to respond.
