HomeMy WebLinkAbout~Master - Extension of Liability Brokerage Agreement RESOLUTION NO. 23-332
RESOLUTION APPROVING EXTENSION OF THE
LIABILITY BROKERAGE AGREEMENT
FOR THE CITY OF AMES,IOWA
WHEREAS, the City contracts with Knapp Tedesco to provide liability insurance
brokerage services for the City. This contract stems from a three-year agreement with Knapp
Tedesco initiated in 2018.After the initial three-year term,both parties agreed the agreement could
be extended for optional one-year extensions; and,
WHEREAS, the current agreement ends on June 30, 2023. Knapp Tedesco has agreed to
extend this agreement through June 30, 2024, at the cost of $38,000. The FY 2023/24 budget
includes $38,000 for liability brokerage services; and,
WHEREAS, under Knapp Tedesco's guidance, the City's insurance program has been
taken to market twice. Each time this effort has resulted in better renewal quotes from the
incumbent liability insurance provider. Additionally, Knapp-Tedesco has provided valuable
coverage analysis and guidance regarding receiving improved service from the City's insurance
providers. The City seeks Knapp Tedesco's advice on a regular basis regarding insurance coverage
strategies; and,
WHEREAS, during the next renewal period, staff intends to take this brokerage agreement
to market for FY 2024/25. Seeking proposals for these services from time to time ensures the City
is receiving the best possible service and pricing for liability brokerage services.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the extension of the Liability Brokerage Agreement with Knapp Tedesco in the amount of
$38,000 for a period of July 1, 2023, through June 30, 2024, is hereby approved.
ADOPTED THIS 131h day of June, 2023.
Renee kall, City Clerk John A. Haila, Mayor
Introduced by: Corrieri
Seconded by: Rollins
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Rollins
Voting nay: None Absent: Junck
Resolution declared adopted and signed by the Mayor this 13t'day of June, 2023.