Title
Resolution Authorizing the City Manager to Enter into a Three (3) year Professional Service Contract with USI Insurance Services, LLC, for Property and Casualty Insurance Broker Services [Budget Impact - $210,000]
Body
LEGISLATIVE INTENT/PURPOSE:
WHEREAS, the City solicited bids to provide brokerage services for its Property and Casualty Insurance program, and received bids from four qualified, responsible, and responsive companies; and,
WHEREAS, this resolution authorizes the award of a professional service contract for insurance broker services with USI Insurance Services, LLC, for a term of three (3) years for a total of $210,000; and,
WHEREAS, USI Insurance Services, LLC, will provide broker services to manage the City’s Property and Casualty Insurance Program; and,
WHEREAS, the contract is for three years at $70,000 per year with optional extensions for up to two additional one-year terms.
THEREFORE, BE IT RESOLVED:
THAT, the City Manager is authorized to enter into a three (3) year professional service contract for insurance broker services with USI Insurance Services, LLC, in the amount of $70,000 per year beginning on July 1, 2024, with optional extensions for up to two additional one-year terms.
THAT, funding is contingent upon approval of the City’s annual budgets.