STRATEGIC PRIORITY: Fiscally Sound
AGENDA DATE: September 24, 2025
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Risk Management
EXECUTIVE: Jack Ireland
______________________________________________________________________
SUBJECT
Title
Authorize the City’s contracted broker of record, Marsh & McLennan Companies, Inc. to purchase insurance policies for commercial property, boiler and machinery and loss control, terrorism, cyber liability, fine arts, crime, aviation, flood, media professional liability, general liability, and other lines of coverage as needed for the period October 1, 2025 to September 30, 2026 - Not to exceed $15,261,509.25 - Financing: Risk Management Fund (subject to annual appropriations)
Body
BACKGROUND
These insurance policies will provide coverage for commercial property insurance, boiler and machinery and loss control, cyber liability, aviation, crime, fine arts, flood, media and professional liability, and general liability insurance policies on behalf of the City of Dallas. The current policies will expire on September 30, 2025.
The insurance policies secured by McGriff Insurance Services, LLC will provide commercial insurance for the following types of coverage:
• Property - buildings, contents, business interruption, terrorism, extra expense, and debris removal
• Aviation - police helicopters and drones
• Crime - employee dishonesty, forgery, and fraud
• Fine arts - works of art owned by the City
• Flood - damage to property caused by flood
• Media professional liability - broadcasting operations at WRR-FM
• General liability - liability exposures specific to Southern States
• Cyber Liability - network breach events to include computer forensics, crises management and public relations expenses, consumer notification, forensic and legal expenses, credit monitoring services, systems failure business interruption, etc.
The City's property values total approximately $5.4 billion. Insurance premium reflects a lower rate per $100.00 of total insured values, new construction added values, and the condition of the insurance market, specifically property and cyber liability.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On June 24, 2020, the City Council authorized a service contract with McGriff Insurance Services, Inc., for broker of record services granting the recommended vendor the authority to purchase commercial property insurance, cyber liability, aviation, crime, fine arts, flood, media and professional liability, and general liability insurance policies on behalf of the City of Dallas for a term of three years, with two one-year renewal options by Resolution No. 20-1008.
On September 23, 2020, the City Council authorized the purchase of insurance policies for commercial property/boiler and machinery and loss control, terrorism, cyber liability, fine arts, crime, aviation, flood, media professional liability, general liability, and other lines of coverage by Resolution No. 20-1459.
On September 22, 2021, the City Council authorized the purchase of insurance policies for commercial property/boiler and machinery and loss control, terrorism, cyber liability, fine arts, crime, aviation, flood, media professional liability, general liability, and other lines of coverage by Resolution No. 21-1574.
On September 28, 2022, the City Council authorized the purchase of insurance policies for commercial property/boiler and machinery and loss control, terrorism, cyber liability, fine arts, crime, aviation, flood, media professional liability, general liability, and other lines of coverage by Resolution No. 22-1473.
On September 27, 2023, the City Council authorized the purchase of insurance policies for commercial property/boiler and machinery and loss control, terrorism, cyber liability, fine arts, crime, aviation, flood, media professional liability, general liability, and other lines of coverage by Resolution No. 23-1353.
On September 25,2024, the City Council authorized the purchase of insurance policies for commercial property/boiler and machinery and loss control, terrorism, cyber liability, fine arts, crime, aviation, flood, media professional liability, general liability, and other lines of coverage by Resolution No. 24-1444.
FISCAL INFORMATION
|
Fund |
FY 2025 |
FY 2026 |
Future Years |
|
Risk Management Fund |
$0.00 |
$15,261,509.25 |
$0.00 |
OWNER/EXECUTIVE
Marsh & McLennan Companies, Inc.
John Q. Doyle, Executive Officer