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County Administrator's Report 10. 34.
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| BCC Regular Meeting |
Budget & Finance Consent |
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| RECOMMENDATION: |
Recommendation Concerning General Lines Insurance Agent (PD 15-16.039) - Robert Dye, Manager, Risk Management Office
That the Board approve a Purchase Order to USI Insurance Services, LLC, in the amount of $120,000, in accordance with PD 15-16.039, General Lines Insurance Agent, for the period of October 1, 2016, through September 30, 2017.
[Funding: Fund 501, Internal Service, Cost Center 140835, Object Code 54501] |
| BACKGROUND: |
Traditionally, General Lines Insurance Agencies serving the County have been commission- based and received approximately $130,000 in commission on premiums during the last policy year.
USI Insurance Services, LLC was selected as Escambia County’s General lines agent by a 5 person review committee based on their qualifications and their offer of a flat fee of $120,000 for the first year and $90,000 each subsequent year of a 3 year contract with 2 optional 1 year renewals. Insurance policies and renewals are negotiated on the County’s behalf without commission at the retail level (NFIP polices excluded due to federal regulation). Removal of the commission incentive from insurance premiums results in a significant savings to the County of approximately $90,000 over the life of the initial 3 year contract and an additional $80,000 in savings if the optional extensions are executed for a potential savings of $170,000 over the life of this contract with extensions.? |
| BUDGETARY IMPACT: |
| Funds are available in Cost Center 140835, Object Code 54501 |
| LEGAL CONSIDERATIONS/SIGN-OFF: |
| This recommendation does not require legal sign off. |
| PERSONNEL: |
| Risk Management will be the Contractor Administrator. No additional personnel will be required. |
| POLICY/REQUIREMENT FOR BOARD ACTION: |
| County Ordinance, Chapter 46, Article II, Section 46-64, providing for Board approval of contracts of fifty thousand dollars ($50,000.00). |
| IMPLEMENTATION/COORDINATION: |
| Upon approval by the Board of County Commissioners a purchase order will be issued by the Purchasing Office to provide payment for services rendered from the contract. |
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