FROM: Stacey Barnier, Director of HR and Risk Management
SUBJECT: Engage Alliant Insurance Services and Marsh & McLennan Insurance Agency LLC for broker of record services to bind property and casualty insurance coverages
RECOMMENDATION:
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Approve award of property and casualty insurance brokerage services contracts to Alliant Insurance Services and the Marsh & McLennan Insurance Agency LLC for fiscal year 2020-2021 in an amount not to exceed $248,088 with a contingency of $5,000 to account for extreme dislocations in the insurance market that might change some of the quotes prior to binding coverage. body
BACKGROUND:
SBCERA contracted with G2 Risk Consulting in 2019 to consult and provide recommendations after a complete review of insurance coverages. Gary Griffin provided the review and during this process, we found that SBCERA has contracted with Alliant Insurance Services as our insurance broker of record for many years and that no review of coverage had been conducted according to SBCERA records. Ultimately, Mr. Griffin assisted with the development of a two phase competitive process which was opened to the public that included a Request for Qualifications and followed by a Request for Proposals.
The two-phase competitive process was held in Spring 2020 which included an initial request for qualifications where insurance brokers across the country submitted proposals. We received seven responses and of those seven responses, two brokers most closely met the qualifications that we were seeking for our broker services. Each broker was given the opportunity to identify specific markets to approach and were ultimately assigned those markets to obtain coverage quotes. Upon completion of their marketing efforts, each broker was interviewed by a panel consisting of Debby Cherney, Barbara Hannah, Stacey Barnier and Gary Griffin.
Alliant Insurance Services, as our current broker, is the most familiar with our organization and serves many publi...
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