Broker for Risk Insurance Services

BACKGROUND INFORMATION

Lake County, Florida (County), is in Central Florida, has approximately 220 site locations, 1393 employees, allocated projected payroll at $106,476,855 and a fleet of over 700 vehicles.

The County's risk insurance program includes General and Excess Liability (including property, auto, general, errors & omissions, employee benefits, workers compensation, historic building valuation, sexual abuse, and sexual harassment, Cyber Risks Liability, crime, boiler & machinery, storage tank, pollution, blanket accident insurance (probation), and statutory accidental death and dismemberment for Firefighters/sheriff Officers. The current schedule is valued at more than $451,000,000. This solicitation does not include stop-loss insurance.

The County has a Self-Insured Retention (SIR) for the first $100,000 of each occurrence of damage to County property, a $100,000 SIR on each occurrence of General Liability and a $300,000 SIR for each claim on Workers' Compensation. The County has various other SIRs and deductibles for other coverage.

This coverage has three tiers. The first is the SIR of $100,000. Second is a primary policy that covers the first 1,000,000 (less the SIR), with sub-limits for Wind/Hail, Flood, Earthquake and Builders Risk. These policies are per occurrence. Finally, we have an excess/umbrella policy above with a total cap of $159,000,000

The County is currently under contract for Broker for Risk Insurance (Broker) services with Brown & Brown with terms from October 1st to September 30th each year.

In addition, the County utilizes Tristar Claims Management Services, Inc. for Workers' Compensation and Employer's Liability and some Property and Liability claims Third Party Administrator (TPA) services. The contract for Third Party Administration Services runs from October 1st to September 30th each year.

Depending on the type of coverage, Lake County's risk insurance program covers the Board of County Commissioners and the County's Constitutional Officers, including the Metropolitan Planning Organization, Clerk of Courts, Property Appraiser, Supervisor of Elections, and Tax Collector.

Details of the current risk insurance program coverage and premiums are shown in the questionnaire on the "Insurance" tab.

SCOPE OF WORK

Coordinate renewal application, pricing and policy changes ninety (90) days prior to renewal.

Coordinate with the County approximately five (5) months prior to renewals on giving estimates of renewal changes in premium, coverage, policy terms, etc. and in collecting needed renewal rating and background information.

Issue and deliver valid timely and cost-effective binders for insurance policies to be purchased by the County. Assure that insurance policies being purchased will be delivered in accordance with the proposal(s) that were negotiated and or accepted by the County.

Assure that the policies issued reflect no lesser policy terms, conditions, coverage amounts and options that were accepted by the County, and immediately correct policy deficiencies before delivery to the County.

Coordinate with the County to assure that up-to-date exposure data is incorporated into the issuance of newly purchased policies.

Prepare an easy-to-read chart of the County's insurance program including limits, pricing and coverage by layer.

Broker Fee is on a one-time annual Flat Fee Basis.

Promptly and accurately process insurance policy endorsements and other change requests as needed.

Coordinate loss control/safety services desired by the County that are available from the insurers whose policies were purchased through the Broker.

Assist the County in filing claims with insurers from whom the County has purchased policies through the Broker.

Provide the County with safety-related training.

Participate in an annual, and by-annual if needed, claims meeting with the County and other relevant parties, e.g., third-party administrator staff, legal counsel, etc. The County will not pay any additional costs/fees for the Broker's participation in annual/bi-annual claims meetings (face-to-face or conference calls.)

Issue Certificates of Insurance (COI) as may be required by the County.

Monitor and notify the County of major developments regarding the insurance industry or the County's insurers or policies that may affect the County.

Respond to coverage or other insurance policy questions as may be presented by the County.

At least annually, review with the County staff the premium and claims history of the County for the policies purchased.

If requested by the County, the broker will market coverage with several insures, and the broker will deliver to the County a listing of all companies contacted, detailed spreadsheets of all proposals received and all rejection letters.

Fully disclose insurance policy premiums and commissions and other remuneration received for the sale of such policies.

Permit the County to conduct an audit of all remuneration/revenues attributable to the County's account and to fully cooperate with people designated by the County to perform such audit.

Analyze the County's exposures yearly and as needed.

Annually provide assessments of current conditions in the insurance markets.

Analyze proposals and quotes received from various insurance companies to ensure that the highest level of coverage is obtained and negotiate with the insurers to obtain the best prices, terms and conditions possible.

Coordinate notice of claims and losses with carriers and act as a facilitator during the claims process.

Report any claims to the insurance carrier and monitor the handling and disposition of the claim to ensure the County's policy rights are protected.

Provide an annual report summarizing all insurance coverage in place, anticipated market conditions, recommendations and strategies.

Assist in the preparation of documents and exhibits to be provided to management and the Board of County Commissioners during annual renewal of insurance policies, and attend relevant meeting as requested.

Assist in the preparation of occasional Request for Proposals (RFPs) and Contracts, and analyze and provide recommendations regarding other documents containing insurance requirement, workers' compensation and employer liability issues, etc.

Assist the County in maintaining and updating schedules of values (SOV).

Attend Risk and Workers' Compensation Claims Committee meetings as needed.

Respond to telephone calls from County staff on the same or next business day.

Any additional services agreed upon by the County and the Broker.

CONTRACTOR MINIMUM QUALIFICATIONS

Awarded Broker must have a minimum of five (5) years of experience with Florida public entities of similar size to Lake County and must have a valid license to operate in the State of Florida.

All Carriers must have an AM Best Rating of Excellent, A rated or better.

[End of Exhibit A]