(1) Vendor needs to provide commercial insurance broker services to the government authority located in Westerly, RI.– Gather all requisite exposure data and loss data from the town for use in the development of coverage specifications.– Prepare coverage specifications and submit them to the purchasing agent for review and approval.– Submit coverage specifications, as approved by the purchasing agent, to insurance carriers for consideration, utilizing all marketing facilities and canvass all of the markets in–depth for competitive proposals.– Submit all proposals received from insurance carriers to the purchasing agent, together with the firm’s written recommendations which shall state in detail satisfactory to the purchasing agent the reasons for the firm’s recommendation selection or course of action and the reasons for not selecting other available options or pursuing other courses of action.– Monitor and update coverages and place additional coverages and terminate existing coverages as required by the town.– Consult with the purchasing agent regarding the effectiveness of the program, review proposed changes and new coverages in anticipation of next year’s insurance program, including but not limited, to the evaluation of alternative insurance and/or risk financial proposals.– Advise the purchasing agent on questions of insurance both as to coverage for the town itself and as to insurance to be obtained from various contractors and agencies doing business with/for the town.– Analyze and recommend efficient procedures for administration of insurance or risk management programs by the town.(2) All question must be submitted no later than December 09, 2024.(3) A contract period will be for one year.
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