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CC-CONSENT ITEM: (1) Waiver of Competitive Bidding Procedures Pursuant to Culver City Municipal Code Section 3.07.075.F.3; and (2) Amendment to Existing Professional Services Agreement with AON Risk Insurance Services West, Inc. to Continue Providing Actuarial Services for the City's Insurance Programs through June 30, 2024 in the Amount of $10,500
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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]
Commission Action Required: 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) waive competitive bidding procedures pursuant to Culver City Municipal Code Section (CCMC) 3.07.075.F.3; and (2) approve an amendment to the existing professional services agreement with AON Risk Insurance Services West, Inc. to continue providing actuarial services for the City's insurance programs through June 30, 2024 in the amount of $10,500.
BACKGROUND/DISCUSSION
Since 2016, the City of Culver City (City) has contracted with AON Risk Insurance Services West, Inc. (AON) to provide actuarial services for the City's liability and workers' compensation programs which provide estimates of claim costs, conclusions and recommendations.
AON's actuarial services will provide important data for financial audit statements and strategic long-term planning. The objective is to take a close look at outstanding losses, reserves, claim development, project losses, and loss distribution. AON will compile and analyze the City's data and apply insurance industry statistics judiciously in order to provide the City guidance on how to best manage loss exposures.
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