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CC - Ratification of Amendment to an 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, 2020
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Meeting Date: August 26, 2019
Contact Person/Dept: Serena Wright-Black/Administrative Services
Phone Number: (310) 253-5640
Fiscal Impact: Yes [X] No [] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [] Attachments: Yes [X] No []
Commission Action Required: Yes [] No [X] Date:
Commission Name:
Public Notification: (E-Mail) Meetings and Agendas - City Council (08/21/19)
Department Approval: Serena Wright-Black, Assistant City Manager (08/19/19)
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RECOMMENDATION
Staff recommends the City Council ratify the amendment to an 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, 2020.
BACKGROUND/DISCUSSION
For over 25 years the City of Culver City was a member of the Independent Cities Risk
Management Authority (ICRMA) for the purpose of participating in pooled programs for liability, workers compensation, auto physical damage, crime, and cyber insurance. City
Council approved withdrawal from ICRMA and authorized the execution of an insurance binder for one year with AON Risk Insurance Services West, Inc (AON) effective July 1, 2016. A second one-year amendment was approved by City Council on June 26, 2017.
As indicated below, over the past three years since leaving ICRMA, AON has been able to save the City a significant amount of money on insurance, while also increasing the amount and various lines of coverage.
2015 Program (ICRMA) 2016-2017 (AON) 2018-2019 (AON) 2019-2020 (AON)
$2,186,307 $1,319,658 $1...
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