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ITEM: AUTHORIZATION TO CONTINUE UTILIZING A CONTRACT FOR INSURANCE BROKERAGE SERVICES
REQUEST: Authorization to continue utilizing The Gehring Group, Inc., a division of RSC Insurance Brokerage, Inc. and to enter into a new agreement with RSC Insurance Brokerage, Inc. to provide insurance brokerage services, at an annual cost of approximately $283,867 based on current annual premiums.
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EXPLANATION: The Village uses broker services for employee benefits and risk management consulting services on an as needed basis.
The current broker contract will expire on July 31, 2024. Pursuant to the Village's Purchasing Manual, insurance brokerage services are exempt from competition.
Staff is seeking authorization to continue utilizing The Gehring Group, Inc., a division of RSC Insurance Brokerage, Inc., and to enter into a new agreement with RSC Insurance Brokerage, Inc. to provide insurance brokerage services at an annual cost of approximately $283,867 based on current annual premiums, see Exhibit A.
Services provided by RSC Insurance Brokerage, Inc. include, and are not limited to:
* Recurring Program Review and Monitoring
> Program design
> Funding mechanism
> Administrative provisions
> Claims/Loss experience
* Legislative Compliance
* Dedicated Personnel
* Request for proposals
* Renewal negotiations
* Contract negotiations
* Wellness services
* Safety and Loss control services
* Online benefits administration and enrollment system (Bentek)
* Audit support
* Employee education and training
The initial term of the contract is for five (5) years beginning on August 1, 2024, and includes a provision for five (5) additional one (1) year renewal options. RSC Insurance Brokerage, Inc. has provided excellent insurance brokerage services to the Village since 2005.
Most recently, The Gehring Group, Inc., a division of RSC Insurance Brokerage, Inc. helped the Village obtain a three-year rate commitment for property/casualty coverage starting in...
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