title
CC - CONSENT ITEM: (1) Ratification of Annual Insurance Policy Renewals for the City's Insurance Portfolio for Fiscal Year 2024 - 2025 with a Premium of Approximately $4,352,142.84 as Presented by City's Insurance Broker AON Risk Insurance Services West, Inc. (AON); (2) Waiver of Competitive Bidding Procedures Pursuant to Culver City Municipal Code Section 3.07.075.F.3; and (3) Amendment to Existing Professional Services Agreement with AON to Continue Providing Broker Services for the City's Insurance Programs through December 31, 2024.
body
Meeting Date: September 23, 2024
Contact Person/Dept.: Dana Anderson/Human Resources
Phone Number: (310) 253-5640
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Attachments: Yes [] No [X]
Public Notification: (E-Mail) Meetings and Agendas - City Council (09/17/2024)
Department Approval: Dana Anderson, Human Resources Director (09/12/2024) _____________________________________________________________________
RECOMMENDATION
Staff recommends the City Council (1) ratification of the recommended Fiscal Year 2023-2024 insurance renewal program with a premium of approximately $4,352,142.84, as presented by the City's insurance broker AON Risk Insurance Services West, Inc.; (2) waive competitive bidding procedures pursuant to Culver City Municipal Code (CCMC) Section 3.07.075.F.3; and (3) approve an amendment to the existing professional services agreement with AON Risk Insurance Services West, Inc., to continue providing broker services for the City's insurance programs through December 31, 2024.
BACKGROUND
Since 2016, the City of Culver City (City) has contracted with AON Risk Insurance Services West, Inc. (AON) to purchase insurance coverage for the City. The City is self-insured and annually purchases lines of insurance coverage to minimize the adverse effects of accidental losses and claims against the City.
The City is self-insured for major risk programs such as...
Click here for full text