The Broker will be responsible for the following (not all inclusive): I. Assist with completion of the LMCIT renewal forms using data supplied by the City. II. Review and keep abreast of LMCIT insurance coverages for completeness and accuracy. Confirm schedules have been updated from the new data supplied during the renewal process. III. Provide explanations and recommendations on limits advising the City on potential gaps or overlaps in coverage. Assist the City in evaluating and selecting deductibles, limits, optional coverage, alternative coverage, etc. IV. Evaluate and advise the City on whether comparable insurance can be provided elsewhere other than LMCIT, including self-insurance. V. Actions to include accurately amending policies, providing interpretation of coverage, policy maintenance, binders and certificates, timely delivery of policies and binders, providing unbiased recommendations, answering insurance questions and resolving issues. VI. Assist the City in identifying risk exposures and developing appropriate strategies. VII. Assist as requested with safety and loss control activities and meetings. VIII. Conduct quarterly review of loss reports, open claims including reserves and analyze for loss trends. IX. Provide an annual recap of insurance costs with explanations of increases or reductions. X. Provide the City with access to the Broker’s working files of City-business upon request.
