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CONSIDER CONTRACT FOR AGENT OF RECORD <br />FOR PROPERTY, CASUALTY, AND WORKERS COMPENSATION INSURANCE <br />By: Heidi A. Nelson, Asst. City Administrator <br />Background: <br />The City of Ramsey has had an agreement with T.C. Field & Company since 1997 for agent of record <br />services for property, casualty, and workers compensation insurance services. The fee established for <br />these services in 1997 was $3000. Since that time the fee has increased to the current rate of $5000. <br />The following is a recent history of the fee paid to T.C. Field for their services: 2008 - $5,000; 2007- <br />$4,500; 2006 - $4,000; 2005- $3750; 2004 - $3,750. T. C. Field has requested contract renewal for the <br />2009 -2010 agreement year and consideration of the fee for the contract period. A separate fee is paid <br />to T.C. Field & Company for Workers Compensation insurance, which is 2% of premiums paid <br />directly from premiums For 2009 the 2% of premiums equates to approximately $2,224. The <br />Insurance Service Agreement is attached for Council review. <br />Staff Recommendation: <br />Staff recommends authorizing the contract for agent of record services for 2009-2010 and an increase <br />of $150 to the fee to T. C. Field for 2009 and $155 for 2010, which reflects a 3% increase for each <br />contract year. A resolution authorizing the contract and fees is attached for consideration. <br />Council Action: <br />Based on Council discussion. <br />Reviewed by: <br />City Administrator: <br />Finance Officer <br />Attachments: <br />Resolution <br />Agreement <br />CC: 01/13/2009 <br />-173- <br />