Submitted By
Paul L. Stephanides, Village Attorney
Reviewed By
A.M. Zayyad
Agenda Item Title
Title
A Resolution Approving a Professional Services Agreement for Annual Insurance Broker Services for the Village's Self-Insurance Retention Program with Mesirow Insurance Services, Inc., d/b/a Alliant/Mesirow Insurance Services for a Three-Year Term for an Annual Not To Exceed Amount of $33,000 and Authorizing Its Execution
End
Overview
Overview
The Law Department issued a Request for Proposals ("RFP") for insurance broker services for the Village's self-insured retention program on July 21, 2022, for a three-year term with responses due on August 19, 2022. The RFP was sent to 17 possible providers and was also posted on DemandStar and the Village's website. A total of three responses were received and staff recommends that the Village enter into a Professional Services Agreement with the Village's current broker, Mesirow Insurance Services, Inc., d/b/a Alliant/Mesirow Insurance Services ("Alliant"), for the program.
Body
Staff Recommendation
Adopt the Resolution.
Fiscal Impact
The fiscal impact is $33,000 per year for the three-year term which will be budgeted and charged to the insurance premiums account of the Village's Self-Insured Retention Fund (account number 6026.41071.101.550681).
Background
The Village engages the services of an insurance broker to solicit and procure the Village's excess public entity liability, excess workers' compensation, property and casualty, cyber, and crime insurance policies for the Village's self-insured retention program on an annual basis. The Law Department issued an RFP for these services on July 21, 2022, for a three-year agreement and a total of five proposals were received from the following insurance brokers: (1) Alliant; (2) The Owens Group Inc. ("Owens"); and (3) The Horton Group ("Horton").
Alliant's proposal is for $33,000 annually, which includes risk management consulting services. Owens' propos...
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