Broker Services • Program Placement, which includes taking the program to market and securing placement with carriers of appropriate size and financial strength. • Review and understand the various relationships between DASNY and its clients to ensure that the insurance policy(ies) provides coverage for DASNY and its clients, as their interests may appear. • Identify potential gaps in coverage and potential program improvements as appropriate and bring those to the attention of DASNY. • Negotiate with insurers on behalf of DASNY and keep DASNY informed of significant developments resulting from those negotiations on a timely basis. • Represent and assist DASNY and its Clients in all discussions and transactions with all insurers, provided that the Broker shall not place any insurance on behalf of DASNY or its Clients unless authorized to do so in writing by DASNY. • Review policies and endorsements for accuracy and conformity to specifications and negotiated coverages. • Provide coverage summaries for all newly placed or renewed policies, along with updates explaining any changes to existing coverage. • Keep DASNY informed with written reports of significant changes and/or trends in the insurance marketplace and provide DASNY with forecasts of market conditions upon request. • Monitor published financial information regarding DASNY’s current insurers and alert DASNY when the status of one or more of such insurers falls below minimum financial guidelines. • One hundred and twenty (120) days prior to coverage expiration, provide a presentation with a written renewal action plan and timeline that highlights accountability and meets DASNY’s objectives. • Provide a Customer Service status report and/or presentation upon request. • In the event of any questions regarding the interpretation of the insurance policy placed by a broker, at DASNY’s request the broker will represent DASNY in any discussions with the insurance carrier. • Meet with staff designated by DASNY’s Director, Insurance to discuss marketing strategy, claims/coverage questions and other items as necessary. • Provide additional services of a technical nature, as requested by DASNY, to support its programs and efforts...
