Title
Resolution to Approve a Five-Year Professional Services Agreement with Hylant Group for Insurance Brokerage Services and Risk Management Consulting ($78,500.00 annually/$392,500.00 total)
Memorandum
The resolution before you is to approve a professional services agreement with Hylant Group for insurance brokerage services and risk management consulting.
Budget/Fiscal Impact: Funding for this project is budgeted and available in the Risk Fund.
Request for Proposals (RFP) #993 was issued in November 2016. Four responses were received from the following companies:
*?Alliant
*?Aon
*?Arthur J. Gallagher Risk Management
*?Hylant Group
The review committee determined that Hylant Group was most qualified to address the City's insurance brokerage and risk management consulting needs. The proposed agreement includes the fee structure for services (below), which totals $392,500.00 over the five-year agreement.
Initial 5-year term:
$78,500.00 annually
If 3-year extension is elected:
$78,500.00 annually
This cost proposal represents a 15% reduction from the fees paid for similar services in fiscal years 2016 and 2017.
Hylant Group is an Ohio corporation with offices in Ann Arbor and throughout the Midwest. In 2005, Hylant Group acquired the former Dobson McOmber agency, which had been operating in Ann Arbor for over a century.
The Board of Insurance Administration has reviewed the committee's recommendation, and further recommends City Council's passage of this resolution.
Staff
Prepared by: Matthew V. Horning, Treasurer
Reviewed by: Tom Crawford, Financial Services Administrator and CFO
Approved by: Howard S. Lazarus, City Administrator
Body
Whereas, The City must secure adequate insurance brokerage service and risk management consulting;
Whereas, The City currently has a contract which expires June 30, 2017 to provide said services through Hylant Group;
Whereas, The City issued RFQ #993 and determined Hylant Group to be the most qualified respondent...
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