Title
Approve and authorize the Contracts/Purchasing Officer to sign Renewal and Amendment No. 6 to professional services agreement with Marsh USA, Inc. dba Marsh Risk and Insurance Services, for casualty insurance brokerage service, by increasing compensation in an amount not to exceed $120,000 for a total compensation amount not to exceed $840,000 and extending the term of the Agreement by one year, effective July 1, 2018 through June 30, 2019.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Approve and authorize the Contracts/Purchasing Officer to sign Amendment No. 6 to the 2012 professional services agreement with Marsh USA, Inc. dba Marsh Risk and Insurance Services, for casualty insurance brokerage service, by increasing compensation in an amount not to exceed $120,000 for a total compensation amount not to exceed $840,000 and extending the term of the Agreement by one year, effective July 1, 2018 through June 30, 2019.
SUMMARY/DISCUSSION:
Marsh Risk and Insurance Services is a global leader in insurance brokering and Risk Management. They help clients obtain appropriate insurance coverage, manage risk and risk avoidance. They also assist in coverage negotiations and disputes.
The County issued of a Request for Proposals for insurance and brokerage services and Marsh was the selected broker. The resulting Agreement was approved July 1, 2012, with a termination date of June 30, 2013. The yearly cost in the original contract was $120,000 and each subsequent amendment has retained this same compensation.
Renewal and Amendment No.1 to No. 5 renewed and amended the Agreement and increased the term of the agreement each year from July 1, 2012 to June 30, 2018. It also increased the total not to exceed amount of compensation each year by $120,000 for a total amount of $720,000.
Amendment No. 6 will increase the term of the Agreement by another year period, which will expire on June 30, 2019; and will increase the amount of possibl...
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