Agenda - Council - 09/27/1988 - Laserfiche WebLink

Home

-5- market(s) and the city of Ramsay would make a final decision on the agent and carrier. However, as I expected, all bidders cited the League as their preferred market. Ordinarily this problem is overcome by one of two methods: 1. markets are allocated by the amount of business currently transacted between agent and insurer, or, 2. the current agent is allowed to approach its current carrier and other competitors approach other markets. Either approach is usually acceptable, but I believe it is problematic here for one big reason. Due to the relatively uncompetitive nature of the municipal insurance market, the agent that is selected to approach the League is almost de facto the agent of record. Since the implicit (perhaps explicit) purpose of this process was to evaluate agents more so than the markets, there could certainly be outside concern about this step in the process. I therefore propose that the city alter the process somewhat and simply select the agent based upon these proposals, allowing the single agent of record to approach his market (which will almost invariably be the League). If this suggestion is taken, this section of their proposals would clearly have to favor FBS and TCF due to premium volume and prior affiliatlon- Can the Following Service be HA FBS TCF Provided by Your Markets? ........ 1. Safety Reviews? Yes Yes Yes 2. physical Inspections? Yes Yes Yes 3. Certificates of Insurance? Yes Yes Yes 4. Documentation for Rate Increases? Yes Yes Yes 5. Quarterly Loss Reports? Yes Yes Yes 6. Claims Handling, Auditing Yes Yes Yes and certificates of insurance 7. New Construction Rate Consultation? Yes Yes Yes 8. Ramsey participation in own defense? Yes Yes Yes Evaluation: Each agent's markets can provide all services ~equested.