Agenda Packets - 1983/10/10 - Laserfiche WebLink

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,Od-k� Risk C.autrol, Jim INSUP14NCE MANAGEMENT SERVICES Mr. Donald Hrager, Finance Director City of Moundsview 2401 Highway 10 Moundsview, Piimesota 55112 Dear Mr. Drager: 216 WATCH STREET E2CE1 SI011 MINNESGTA 35]]1 16I2)476.6204 64ay 2, 1983 Thank you for taking time out of your busy schedule on April 28th to visit with me about your City's insurance program and Risk Control, Inc. To reaffirm our conversation, we would charge a fee of $3,500 payable in ten equal monthly in- stallments for twelve months of service in the administration of your risk manage- ment and insurance program. Our services would include the areas of property and casualty, workers' compensation and employee benefits as well as other related areas. It is difficult to outline all the services that we would perform since we don't know specifically what problems we will face in your insurance program in the caning year but listed below is at least a partial list of some of the key services that we would perform based on our conversation of last Thursday. 1. Since you indicated that you just recently renewed your insurance policies for the caning year, the first task I would perform is to •_ •i/".• %nyr current inc ranre pnliriac anri mgkP romrtnenrlAtions for adjustments as needed. 2. As we discussed, the conventional public bidding process that is currently used by most municipalities in the purchasing of their insurance places the majority of its emphasis on the pricing of the insurance policy and very little emphasis on the qualifications and requirments of the servicing agent. one method that is be- ginning to be utilized is the selection process of an agent of record based on submission by interested agents of a form outlining their qualifications and indicating their willingness to oarply with the specific services that will be required of them along with a bid of a dollar figure as a fee for servicing the City's insurance. This approach to the selection of an insurance agent has its ad- vantages and disadvantages and is a method that I am quite familiar with. If it should be the City's decision to ut.i.l.ize this method to select an agent for your next renewal, I would perform the task of preparing the specifications and proposal form for the selection and helping guide the City through this process. 3. If the City were to elect to utilize the Agent of Record selection process described in item two above, I would assist the designated Agent of Record in preparation of specifications to seek quotations for the City's insurance. In the event that the City's decides