TRANSMITTAL LETTER FOR BOARD MEETING OF SEPTEMBER 2, 2010
COMMITTEE ON PROCUREMENT
Mr. Richard Lanyon, Executive Director
Title
Issue purchase order to Risk Management Resources, Inc. for Furnishing Excess Auto Liability Insurance Coverage for Automobiles, Trucks, Trailers, Uninsured and Underinsured Motorists and Non-owned Automobiles in an amount not to exceed $77,873.00, Account 101-30000-612290, Requisition 1309162
Body
Dear Sir:
At the Board Meeting of February 7, 2008, the Board of Commissioners awarded a purchase order to Risk Management Resources, Inc. (RMR) to serve as the District’s broker-of-record for a three-year period. In this capacity, RMR has sole responsibility for securing quotes from the insurance market for all broker-placed insurance policies, and presenting the quotes from qualified carriers to the Director of Procurement and Materials Management for review and recommendation of a selected carrier.
On July 28, 2010, on behalf of the District, RMR forwarded specifications for Excess Auto Liability Insurance from September 15, 2010 through September 15, 2011, to cover all bodily insurance, property damage, and uninsured/underinsured motorists for the MWRD’s automobile fleet, trucks, trailers and non-owned vehicles operated on District business/property for a one-year period with a self-insurance limit of one million dollars and excess liability limit of five million dollars. Twelve (12) insurance companies were notified and five (5) responsive proposals were received from:
Catlin Specialty Insurance Company: $77,873.00
Illinois National Insurance Company: $85,021.00
Chubb Insurance $115,000.00
Genesis Insurance Company $170,000.00
Ironshore $110,000.00
The proposals were evaluated by RMR and representative from the Procurement and Materials Management and Law Departments. Based on this review, it was determined that Catlin Specialty Insurance Company, a member of Catlin Insurance Company, provided the lowest cost proposal, competitive annual premium rate of $77,873.00. The company is licensed to do business in Illinois, complied with the insurance ratings requirements, as well as the terms and conditions of the bid specifications. Although a non admitted carrier, the company’s rating is stable and it has a reputation for excellent service.
In view of the foregoing, it is recommended that a purchase order be issued to Risk Management Resources, Inc, on behalf of Catlin Specialty Insurance Company, in an amount not to exceed $77,873.00.
Funds are available in Account 101-30000-612290.
Requested, Frederick M. Feldman, General Counsel, FMF:HSW:ldl
Recommended, Darlene A. LoCascio, Director of Procurement and Materials Management
Respectfully Submitted, Barbara J. McGowan, Chairman Committee on Procurement
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for September 2, 2010