DEPARTMENT: Office of Risk Management
DEPARTMENT HEAD: Debra M. Ojo, MPA, Director
COUNCIL DISTRICTS IMPACTED: Citywide
SUBJECT:
Risk Management Consulting Services and Insurance Broker of Record
SUMMARY:
This ordinance authorizes the City Manager or his designee to enter into a contract with SOGO Wealth & Risk Management to provide professional services of an Insurance Broker of Record, which will include risk management consulting loss control services and an option for damage assessments for an additional fee, for the City of San Antonio, Office of Risk Management. The term of this contract is three (3) years, beginning August 20, 2020 and ending August 19, 2023, with an option to extend the contract for up to two (2) one-year extensions, subject to and contingent upon funding by City Council, with total compensation not to exceed $825,000.00. The estimated annual expense is approximately $165,000.00, which includes the cost of damage assessments estimated at approximately $15,000.00.
BACKGROUND INFORMATION:
The City has utilized Risk Management Consulting and Insurance Broker of Record services since at least 1983 to advise the City concerning its comprehensive risk management strategy, continuing evaluation of the City's efforts to minimize necessary risks, and to maximize transfer of risks where possible. As the Broker of Record for The City of San Antonio, SOGO Wealth & Risk Management assumes professional responsibility for marketing of the City's insurance requirements to qualified insurance carriers, placement of insurance coverage for the City on terms and at costs favorable to the City and representation of the City's interests when conflicts with insurance carriers develop.
A Request for Proposal (RFP 20-059) was issued on March 19, 2020 to select a respondent to provide all necessary services including, but not limited to the following: Broker of Record Services, Consultant Services, Loss Control Services, and Market Trend Reports...
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