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CC - CONSENT ITEM: (1) Approval of Annual Insurance Policy Renewals for the City's Insurance Portfolio for Fiscal Year 2023 - 2024 with a Premium of Approximately $3,925,009.85, 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 June 30, 2024.
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Meeting Date: June 26, 2023
Contact Person/Dept.: Amalia Sanchez / 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 (06/22/2023)
Department Approval: Dana Anderson, Human Resources Director (06/20/2023)
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RECOMMENDATION
Staff recommends the City Council (1) approve the recommended Fiscal Year 2023-2024 insurance renewal program with a premium of approximately $3,925,009.85, 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 Section (CCMC) 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 June 30, 2024.
BACKGROUND
The City is currently self-insured and annually purchases lines of insurance coverage to minimize the adverse effects of accidental losses and claims against the City. Since 2016, the City has contracted with AON Risk Insurance Services West, Inc. (AON) to purchase insurance coverage for the City. Prior to that, the City was a member of the Independent Cities Risk Management Authority (...
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