Submitted By
Paul L. Stephanides, Village Attorney
Reviewed By
AMZ
Agenda Item Title
Title
A Resolution Approving the Renewal of the 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 One Year Term for an Annual Not To Exceed Amount of $29,500 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 31, 2018, for a three-year term with responses due on August 27, 2018. Staff recommends the renewal of the Professional Services Agreement with Mesirow Insurance Services, d/b/a Alliant Mesirow Insurance Services (“Alliant”) for a one-year term.
Body
Staff Recommendation
Adopt the Resolution.
Fiscal Impact
The fiscal impact is $29,500 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, 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 31, 2018, for a three-year agreement and Alliant was selected as the lowest responsible bidder.
Per the existing Agreement, Alliant’s fee is $29,500 annually, which includes risk management consulting services. Alliant has agreed to this same fee for the renewal period for January 1, 2022, through December 31, 2022. The current agreement expires on December 31, 2021. Alliant’s risk management services include assisting the Village assistance in evaluating risk exposures, setting reserves and claim analysis, employee training through grants, and onsite engineer assessments and inspections for property insurance purposes.
Staff recommends a one-year renewal of the Professional Services Agreement with Alliant to provide continuity of services during the COVID-19 pandemic and due to open claim matters. The current relationship with Alliant will allow the Village to procure the necessary insurance coverages for the Village’s renewal of its insurance program for 2022 and work with insurance carriers to provide the best possible coverages at the lowest cost. Staff will plan to issue a request for proposals in 2022 for insurance broker services.
Alternatives
Selection of the broker is at the Village Board’s discretion.
Previous Board Action
The Board approved the existing Agreement on October 1, 2018.
Citizen Advisory Commission Action
N/A.
Anticipated Future Actions/Commitments
N/A.
Intergovernmental Cooperation Opportunities
N/A
Performance Management (MAP) Alignment
N/A