The primary responsibility of the City’s insurance broker is to procure insurance coverage for the City in a comprehensive and fiscally responsible manner. Respondent must have access to the global insurance marketplace to secure quality insurance coverage for the City at a competitive price. A summary of the City’s current insurance program is attached as Appendix B. The specific services requested for securing insurance coverage include but are not limited to: 1. Work with the City to formulate marketing and/or renewal goals, timelines, and objectives. 2. Obtain from the City and maintain property schedules and loss runs to submit to carriers. 3. Work with the City to timely complete applications and underwriting forms. 4. Access all necessary insurance carriers either directly or by use of a secondary broker. The use of a secondary broker must be disclosed to the City. 5. Provide the City with renewal quotations from carriers, including complete pricing and coverage summaries in a format designated by the City. 6. As requested by the City, competitively market the City’s insurance program to other carriers and present competitive quotations from each selected market. 7. Negotiate with carriers to secure any requested endorsements, riders, limits, and amendments. 8. Bind coverage as instructed by the City. 9. Follow up with carriers for timely issuance of binders, policies, and endorsements. 10. Provide copies of all binders to the City prior to policy inception. 11. Receive and review from the carriers all policies, endorsements, invoices, and schedules to ensure accuracy and conformity with the quoted coverage.
