Title
FY2014 Liability Insurance Brokerage Services
History
On October 2, 2013, the Village issued a Request for Proposals (RFP) for Insurance Brokerage Services for property/casualty coverage to begin January 1, 2014. The RFP was posted on the Village’s website and the SouthtownStar, and staff directly notified five (5) insurance brokers. Proposals were due on October 18, 2013.
We received four (4) proposals from qualified firms, including The Horton Group, Arthur J. Gallagher & Co., Assurance Agency, Ltd. and Alliant Insurance Services, Inc. However, based on questions and comments received from potential additional proposers regarding risk management, staff has determined that more time is required to properly analyze not only the proposals received but also the requirements included in the RFP. Staff is requesting that we reject all proposals received and reissue an RFP during the second quarter 2014. Staff also recommends that we extend our contract with The Horton Group for one more year; approval of this contract extension will be brought to the Board for approval once our 2014 renewal premiums are finalized.
On November 4, 2013, this item was reviewed and approved by the Finance Committee and referred to the Board for approval.
Financial Impact
None
Recommended Action/Motion
I move to approve rejecting all Insurance Brokerage Service proposals received in response to the RFP issued by the Village.