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ITEM: AUTHORIZATION TO NEGOTIATE A CONTRACT TO PROVIDE INSURANCE BROKERAGE SERVICES
REQUEST: Authorization to negotiate a contract with The Gehring Group to provide insurance brokerage services to the Village.
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EXPLANATION: On February 10, 2014, we released RFP# 003-14/ED seeking qualified firms to provide insurance brokerage services to the Village. On April 2, 2014, we received a total of six proposals. Five proposals were deemed responsive. The Florida League of Cities' (FLOC) proposal was deemed non-responsive since they do not currently provide the services requested as part of the RFP. Their proposal was submitted to the Village for informational purposes only.
After reviewing the five responsive proposals, on May 6, 2014, the Selection Committee met and independently scored and ranked each firm as follows:
1. The Gehring Group
2. Public Risk Insurance Agency (PRIA)
3. Arthur J. Gallagher & Co.
4. Brown and Brown
5. CBIZ
The criteria for ranking each firm included; Qualifications and Experience, Approach and Methodology and Compensation/Pricing.
Based on the results of the scoring, the Selection Committee is recommending entering into contract negotiations with The Gehring Group, the highest ranked firm.
As part of the RFP requirements, we requested each proposer provide pricing based on an annual flat fee and pricing based on annual commission on premiums. After reviewing each proposed pricing structure, the Village would have the ability to choose one, as a basis for contract award. The Gehring Group's proposal provided an annual flat fee price of $198,000 and an annual commission on premium price of $195,967.38. The Village currently pays approximately $290,000 for these services.
The Gehring Group's proposal includes brokerage for the following services:
* Benefits Plan (Health Insurance) Including On-Line employee portal
* Dental Insurance
* Vision Insurance
* Disability Insurance
* Life Ins...
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