Title
a. Approve and authorize the County Purchasing Agent to execute an Agreement with Aon Risk Insurance Services West, Inc. for insurance brokerage and risk advisory services for the County’s environmental, excess liability, fiduciary liability, and other insurance programs as directed, at no direct cost to the County, with compensation paid solely through insurer commissions, for the period of execution through June 30, 2029; and
b. Approve non-standard indemnification and limitation of liability provisions in the Agreement, as recommended by the Risk Manager.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Approve and authorize the County Purchasing Agent to execute an Agreement with Aon Risk Insurance Services West, Inc. for insurance brokerage and risk advisory services for the County’s environmental, excess liability, fiduciary liability, and other insurance programs as directed, at no direct cost to the County, with compensation paid solely through insurer commissions, for the period of execution through June 30, 2029; and
b. Approve non-standard indemnification and limitation of liability provisions in the Agreement, as recommended by the Risk Manager.
SUMMARY:
The County purchases several insurance policies on the commercial market through a licensed broker. These programs were previously brokered by Marsh. This Agreement engages Aon Risk Insurance Services West, Inc. (Aon) as the County’s broker and risk advisor for its environmental, excess liability, and fiduciary liability insurance programs, and for other programs the Risk Manager designates in writing. Aon is paid only through commissions that insurers include in the premium. The County pays no separate fee, and Aon must disclose all of its compensation. The Agreement uses Aon’s standard terms, which limit Aon’s liability and narrow its indemnification of the County, and Board approval of those non-standard provisions is requested. There is no additional General Fund ...
Click here for full text