HomeMy WebLinkAbout367-Silver Insurance Management~: ~; SIVER INSURANCE MANAGEMENT CONSULTANTS
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AGREEMENT
between
CITY OF SANFORD
and
SIVER INSURANCE MANAGEMENT CONSULTANTS
for
CONTINUING INSURANCE CONSULTING SERVICES
AGREEMENT
THIS AGREEMENT made and entered into by and between the City of
Sanford, hereinafter called the CLIENT and Siver Insurance
Management Consultants whose address is P.O. Box 21343, St.
Petersburg, FL 33742, hereinafter called the CONSULTANT.
WITNESSETH
WHEREAS Tile CLIENT desires to retain an insurance consultant to
assist in the organization, implementation, and maintenance of
its insurance programs; NOW, THEREFORE, IN CONSIDERATION
of the foregoing and the mutual covenants and promises contained
herein, the parties hereto do hereby agree as follows:
RETAINER SERVICES
The CONSULTANT agrees to provide professional risk management and
insurance consulting services to the CLIENT on a continuous
retainer basis. The scope of these services shall include mat-
ters relating to property and casualty insurance risk management
and employee benefit programs. Specific services offered by the
CONSULTANT under this Agreement include:
A) Preparation of Policy Kit - The CONSULTANT shall, atthe
request of the CLIENT, review present and future insurance
policies and related contracts submitted to CONSULTANT
and prepare or update a Policy Kit to include a Cover Note
for each of the documents reviewed.
· ¢ SIVER INSURANCE MANAGEMENT CONSULTANTS
B) Annual Review - The CONSULTANT shall, upon the request of
the CLIENT, present a summary review of the programs,
their objectives, results and future goals.
C) Self-Insurance - The CONSULTANT shall, upon request, pro-
vide advice to the CLIENT relating to opportunities for
self-insurance and related matters.
D) Availability Of Counsel - The CONSULTANT's professional
personnel shall, upon request of THE CLIENT, be available
for telephone consultation, to attend meetings, to per-
form research and to render advice and opinions.
E) Continuous Examination - The CONSULTANT shall, upon
request and submission to the CONSULTANT by the CLIENT or
its designee, examine and approve insurance policies and
endorsements affecting either coverage or price; also any
other documents that may be appropriate.
F) Preparation of Specifications - The CONSULTANT shall, at
the request of the CLIENT, assist in the solicitation of
proposals for insurance policies or contracts for risk
management support services. The CONSULTANT's activities
shall include the following:
1. Prepare written specification to include necessary
underwriting data and a description of the model
program(s) desired by the CLIENT.
2. Receive and analyze the various proposals.
3. Prepare a written summary of the CONSULTANT's conclu-
sion and recommendations and appear in person to
discuss these matters with the CLIENT or its
designee.
4. Review all binders, policies, or other contracts
issued by the successful proposer(s) to determine
that these documents conform with the terms of any
proposal submitted or negotiations otherwise agreed
upon.
5. Prepare Cover Notes on all policies and contracts
reviewed.
It shall be the responsibility of the CLIENT's staff to
provide, in appropriate form, the exposure, loss and
other underwriting data required to prepare the specifi-
cations-
SIVER INSURANCE MANAGEMENT CONSULTANTS
COMPENSATION OF CONSULTANT
The CONSULTANT shall be compensated for services performed under
the terms of this Agreement on the following basis:
A) Monthly Statement - At the end of each month in which
services were performed, the CONSULTANT shall submit a
statement detailing the consulting hours expended,
by class of employee, extended by the rates currently
in force. Customary out-of-pocket expenses
(including duplication, printing, long distance calls,
postage, travel and lodging) shall be additional.
B) Fee Schedule Rate/Hour
Class I: Senior consultants who have $125.00
professional designations (CPCU,
CLU, ARM, AIU, AAI, JD, PE,
MAI, FCAS, ChFC, etc.) or who
have 15 years experience in
their special fields.
Class II: Consultants $ 75.00
Class III: Administrative - Persons in- $ 35.00
volved in clerical and record
keeping matters.
AUTHORIZATION FOR SERVICES
The CONSULTANT shall perform services under the direction of the
City Manager or his designee.
NO CONFLICT OF INTEREST
The CONSULTANT assures the CLIENT that the firm acts solely in its
capacity as CONSULTANT. The CONSULTANT shall not participate in
commission from any insurance company, agent or broker nor accept
any income other than that stipulated in this Agreement.
Further, the CONSULTANT assures the CLIENT that to the best of its
knowledge, the signing of this Agreement does not create any
conflict of interest between itself, its associates, any principal
of its firm or any member or employee of the City of Sanford.
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$IVER INSURANCE MANAGEMENT CONSULTANTS
EXECUTION OF AGREEMENT
IN WITNESS mEREOF, the parties hereto have duly executed this
Agreement on the day and year above first written.
ATTEST: "'CITY OF SANFORD
SIVER INSURANCE MANAGEMENT CONSULTANTS
day or
FORMS #8/
SANF1-4
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