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From the Interim Director of Risk Management, requesting authorization to extend a one-year extension for the following insurance policies 1) Airport Liability; 2) Public Entity Liability; 3) Property Insurance; 4) Fidelity Insurance and shall issue a request for proposals not later than the third Quarter of 2012 for these insurance policies that will include insurance coverage beginning January 1, 2013.
Body
REQUEST
Risk Management staff requests a one-year extension for the following insurance policies: 1.) Airport Liability; 2.) Public Entity Liability; 3.) Property Insurance; 4.) Fidelity Insurance. Resolution File No. 93-168 approved by the Finance & Audit Committee (Committee) and adopted by the County Board at its February 18, 1993 meeting require that Risk Management solicit Requests for Proposals (RFP) for insurance purposes.
BACKGROUND/ANALYSIS
In 2008, Risk Management solicited RFP’s for the following insurance policies: Airport Liability, Public Entity Liability, Fidelity Insurance, and Property Insurance. Resolution 08-488 (adopted at the December 2008 County Board meeting) allowed the Risk Manager (Manager) to enter into a contract for these insurance policies (policies) with the following insurance providers (providers):
· ACE (Airport Liability)
· Wisconsin County Mutual (Public Entity Liability)
· Local Government Property Insurance Fund (Property Insurance)
· Great American (Fidelity Insurance)
The contracts were specified for a period of three years (1-yr agreement plus two additional 1-year extensions) covering budget years 2009 through 2011. As of January 1, 2012, these insurance policies shall lapse.
As part of the original RFP process (performed in 2008), Risk Management solicited 15 insurance brokers and administrators including 4 certified DBE’s to respond to the various RFP’s In addition, the RFP was publicly advertised on 2 separate dates in a Milwaukee area publication. Insurance brokers and administrators wer...
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