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and alternative insurance underwriters and rating plans which minimize the present, <br />after-tax value of cash outflow. <br /> <br />B. ~cifications: <br /> <br />Work with the City's staff and advisors to draft coverage specifications for <br />insurance as shall be purchased by the City. Assist in annually filing the statement <br />of insurable values. <br /> <br />C. Quotes and Recommendations: <br /> <br />Obtain proposals and quotes from qualified underwriters on a net of commission <br />basis if available, for improving Insurance coverage, and work with the City's staff <br />and advisors to study and impartially evaluate all Insurance proposals received, in <br />terms of the coverage provided, financial standing and services of the Underwriter <br />and ultimate net cost to the City, and provide an Insurance policy inventory and <br />summa.D,, updated annually. <br /> <br />D. Negotiate. Review Proposals and Claims: <br /> <br />Conduct on behalf of the City all negotiations with all Insurance representatives and <br />companies relating to issuance and maintenance of policies, audits, premium reports <br />and all similar matters customarily handled by Insurance Agents, Brokers, and <br />Advisors, including the obligation to make diligent efforts to continue any <br />terminated policies. If Hadtrath is unable to obtain any Insurance coverage, the <br />City shall obtain the coverage from another source. The City's staff and advisors <br />shall be kept fully informed of all significant changes and change. Audited and <br />approved policies, endorsements and invoices shall be delivered to the City with <br />respect to ali Insured losses, and shall semi-annually review liability and worker's <br />compensation reserves listed by Insurance carrier and rating bureau, and offer <br />recommendation to the City. <br /> <br />E. Loss Control: <br /> <br />Hadtrath shall serve as Advisor along with insurance company personnel with <br />respect to Loss Control and Safety Engineering Programs. Services include <br />inspection of plants and properties; pre-construction review of plans and <br />specifications for new buildings and extensive alterations. This is in addition to and <br />does not include services provided by employees or persons engaged by the <br />Insurance Company. <br /> <br />Hadrrath shall submit an annual report by October 1, 1993 of the work performed <br />during the year, the results achieved, premiums paid and losses incurred on insured <br />risks, a summary of the current insurance program and any outstanding unfulfilled <br />recommendations for risk, coverage or cost improvement. <br /> <br />F. Communications: <br /> <br />No charge phone accessibility, written confirmation and follow-up of <br />communications with the City and Underwriters. Assist the City's staff and <br />advisors in the application and use of Risk Management procedures and information <br />systems. <br /> <br /> <br />