STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: September 25, 2019
COUNCIL DISTRICT(S): All
DEPARTMENT: Office of Procurement Services
EXECUTIVE: Elizabeth Reich
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SUBJECT
Title
Authorize Supplemental Agreement No. 3 (1) to exercise the first of two one-year renewal options to the contract (a) to provide broker of record services from October 1, 2019 to September 30, 2020 and the purchase of an insurance policy for commercial property/boiler and machinery from October 1, 2019 to September 30, 2020 at a guaranteed rate of $0.037886 in the amount of $1,908,836.00, from $4,099,290.00 to $6,008,126.00; (b) extend the contract for one year for the purchase of aviation, crime, fine arts, flood, media professional liability, and general liability insurance policies from October 1, 2019 to October 1, 2020 in the amount of $151,242.15, from $403,861.40 to $555,103.55; and (c) exercise the first of two one-year renewal options for risk management consulting services from January 8, 2020 to January 7, 2021 in an amount of $72,000.00, from $216,000.00 to $288,000.00 with USI Insurance Services, LLC fka USI Insurance Services National, Inc.; and (2) to extend the contract with McGriff, Seibels & Williams, Inc. for brokerage fees and the purchase of cyber liability and privacy insurance from October 1, 2019 to October 1, 2020 in the amount of $308,751.00, from $735,675.00 to $1,044,426.00 - Total not to exceed $2,440,829.15, from $5,454,826.40 to $7,895,655.55 - Financing: Risk Management Fund (subject to appropriations)
Body
BACKGROUND
The insurance policies secured by USI Insurance Services provide commercial property insurance (e.g. buildings, contents, business interruption, terrorism, extra expense, and debris removal) for the following types of coverage:
* Aviation - police helicopters
* Crime - employee dishonesty, forgery, and fraud
* Fine arts - works of art owne...
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