HomeMy WebLinkAbout~Master - Renewal of Property Brokerage Agreement for FY 2023/24 RESOLUTION NO. 23-333
RESOLUTION ACCEPTING EXTENSION OF PROPERTY BROKERAGE
FOR THE CITY OF AMES, IOWA
WHEREAS, the City contracts with Willis Towers Watson of Greater Kansas, Inc.
(WTW), to provide property insurance brokerage services for the City's property insurance
program. This contract stems from a three-year agreement with WTW initiated in 2011. After the
initial three-year term, both parties agreed to extend the agreement for one-year extensions; and,
WHEREAS, the current agreement, in the amount of $50,000, expires June 30, 2023.
WTW has agreed to extend this agreement through June 30, 2024, at the cost of$55,000. The FY
2023/24 budget contains $55,000 for this service; and,
WHEREAS, under the guidance of WTW, the City's property program has been divided
into a municipal property insurance program and a power property program. The City seeks advice
from WTW on a regular basis regarding risk mitigation efforts, insurance coverage strategies, and
in completing claim documentation in the event of losses.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the extension of Property Brokerage with Willis Towers Watson of Greater Kansas, Inc. in
the amount of$55,000 for a period beginning July 1, 2023, is hereby approved.
ADOPTED THIS 13th 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 13th day of June, 2023.