FROM: Robert Thompson, General Manager
Originator: Wally Ritchie, Director of Finance
SUBJECT:
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INSURANCE BROKER SERVICES, SPECIFICATION NO. CS-2026-733BD
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GENERAL MANAGER'S RECOMMENDATION
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RECOMMENDATION:
Approve a Professional Consultant Services Agreement to Alliant Insurance Services, Inc., to provide Insurance Broker Services, Specification No. CS-2026-733BD, for a total amount not to exceed $180,000. The term of this Agreement will begin upon the effective date of the Notice to Proceed, with four (4) one-year renewal options.
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BACKGROUND
The Orange County Sanitation District (OC San) utilizes the services of an Insurance Broker of Record to assist with the placement and administration of insurance coverage necessary to protect OC San's assets and operations.
OC San's insurance program includes major coverages such as excess general liability, excess workers' compensation, property and flood, equipment breakdown, and earthquake insurance. The broker also assists with other insurance coverages, including cyber, crime, and watercraft insurance.
The Insurance Broker of Record assists OC San in evaluating its insurance needs, marketing its insurance program, negotiating with insurance carriers, and obtaining appropriate coverage and competitive pricing. The broker also provides ongoing insurance and risk management support throughout the term of the agreement. The broker will also support OC San in the development and implementation of its Enterprise Risk Management (ERM) program, including assistance with identifying, assessing, and managing organizational risks.
The broker surveys the insurance market to find coverage that meets OC San’s specific needs at the lowest possible premiums. This ensures OC San receives the best possible premiums and coverage. OC San does not pay the broker directly for these services; rather, the broker is paid by the individual insurance carrier through a commission. The commiss...
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