Agenda Item Wording:
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Award Contract for Insurance Broker Services - Authorize the City Manager to award a contract to Alliant Insurance Services, Inc. for insurance broker services, at a cost not to exceed $6,110,200 over a five-year period.
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Prepared by: Andrew Guzman, Risk Manager, andrew.guzman@visalia.gov, (559) 713-4335; Shonna Oneal, Administrative Services Director, shonna.oneal@visalia.gov, (559) 713-4053
Department Recommendation: Staff recommends that the City Council authorize the City Manager to award a contract to Alliant Insurance Services, Inc. for RFP 23-24-54, Annual Contract for Insurance Broker Services, in an amount not to exceed $6,110,200.
Summary:
City staff issued RFP 23-24-54, Annual Contract for Insurance Broker Services, to select a firm to serve as the City's risk advisor and insurance broker. This agreement will appoint Alliant Insurance Services, Inc. (Alliant) as the exclusive insurance broker for the City of Visalia with respect to the City's property & casualty insurance programs. The initial contract shall be for a twelve (12) month period and shall, at the City's option and upon mutually agreeable terms, be renewable annually thereafter for four (4) consecutive one-year periods.
Background Discussion:
City staff purchases multiple lines of insurance to protect the city's assets, operations, and employees. The current coverage includes:
* Commercial Property
* Underground Storage Tank (Pollution coverage for fuel tanks)
* Aviation Liability
* Excess Workers' Compensation
* Crime Policies for Employee Dishonesty
* Cyber Liability Insurance
The City has historically worked with Arthur J. Gallagher & Co. ("Gallagher") for broker services. The relationship with Gallagher has been longstanding and was originally with Buckman-Mitchell Insurance ("BMI"), which was acquired by Gallagher in 2018. The City continued to work with Gallagher based on the longstanding relationship.
In the past several years, the insur...
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