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HomeMy WebLinkAbout~Master - Agreement to provide property insurance brokerage services RESOLUTION NO. 17-099 RESOLUTION APPROVING RENEWAL OF AGREEMENT FOR PROPERTY INSURANCE BROKERAGE SERVICES FOR THE CITY OF AMES WHEREAS, the City contracts with Willis of Illinois, Inc., to provide property insurance brokerage services for the City's property insurance program; and, WHEREAS, this contract stems from a three-year agreement with Willis initiated in 2012, and after the initial three-year term, both parties agreed to extend the agreement for each of the optional one-year extensions; and, WHEREAS, the final extension concludes in April, and the cost for brokerage services throughout the City's relationship with Willis has been$45,000 per year; and, WHEREAS, the City is currently in search of a permanent Risk Manager to administer the City's property brokerage and insurance program, and in the absence of a Risk Manager to analyze proposals from other companies, Willis has offered to extend the brokerage services agreement for an additional year at the current rate of$45,000; next year, the City will be in a better position to test the brokerage market; and, WHEREAS, under Willis' guidance, the City's property program has been divided into a municipal property insurance program (underwritten by Chubb) and a power property program (underwritten by AEGIS); and, WHEREAS, it should be noted that Willis has transferred its brokerage services for the City's account from its Chicago office to its Kansas City area office; therefore, although the current brokerage agreement is with Willis of Illinois, Inc., the renewal brokerage agreement wil be with Willis of Greater Kansas, Inc. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, that the extension of the property brokerage agreement with Willis of Greater Kansas, Inc., in the amount of$45,000 for a one-year period beginivng April 28, 2017, is hereby approved. ADOPTED THIS 7th day of March, 2017. ,/ , )--R C_�A_ - - 1�� A0,040 Ue. Diane R. Voss, City Clerk Ann H. Campbell, Mayor Introduced by: Betcher Seconded by: Corrieri Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin,Nelson, Orazem Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 7th day of March, 2017.