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2014-608-E Finance (Risk Management) - Willis of North Carolina, Inc. for Insurance Broker $58,000
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2014-608-E Finance (Risk Management) - Willis of North Carolina, Inc. for Insurance Broker $58,000
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Last modified
5/18/2017 2:26:40 PM
Creation date
12/31/2014 11:52:31 AM
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BOCC
Date
12/31/2014
Meeting Type
Work Session
Document Type
Agreement
Agenda Item
Manager signed
Amount
$58,000.00
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R 2014-608 Finance - Willis of North Carolina, Inc. for Insurance Broker (Risk Management)
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\Board of County Commissioners\Contracts and Agreements\Contract Routing Sheets\Routing Sheets\2014
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DocuSign Envelope ID:A4C366A3-F5D9-473B-9218-AF49BCCA02E0 <br /> sm Pricing Aggressiveness: Some carriers are known to be more aggressive <br /> in pricing their product. We seek to strike a balance between meeting your <br /> service needs and delivering a product that is price competitive. <br /> 7a Servicing Capabilities: Selected carriers must have the appropriate <br /> infrastructure and quality standards to meet your needs. <br /> aA Risk Appetite: Carriers" appetites relative to risk assumption vary, and we <br /> must match their philosophy with your desire and ability to retain risk. <br /> Carriers' Strategic Plan: Underwriters often revamp their approach due to <br /> evolving internal goals. We can sometimes obtain advantages when a <br /> carrier becomes more competitive, achieving better coverage, limits, and/or <br /> pricing than would normally be available, Critical changes in carrier <br /> personnel can also affect their tactics — the move of a significant individual <br /> from one carrier to another can materially and sometimes rapidly alter a <br /> situation. <br /> Financial Stability: The carrier must have the long-term ability to fulfill your <br /> payment and servicing needs. We strictly adhere to our process for <br /> evaluating the financial stability of carriers. <br /> ARKEIF RELATIOrNJOHIPS <br /> Our brokers enjoy strong relationships with local and home office underwriters <br /> of all major insurance carriers domiciled in the US, London, Bermuda and other <br /> world markets. We have wel,l-established, strong relationships with all of the key <br /> markets. Excellent underwriting relationships based on trust and respect allows <br /> us to obtain for our clients the optimum cost and coverage terms available in the <br /> marketplace. <br /> We believe an aggressive negotiating team is required to achieve the desired <br /> results, i.e.) — minimizing your overall insurance premiums, while obtaining <br /> enhanced terms and conditions. Negotiations are always conducted in the best <br /> interests of our clients as we look to take advantage of our position with the <br /> markets and existing relationships. <br /> We are firm believers that the renewal process should be collaborative. No one <br /> can tell your story as well as you. As such, at the beginning of each renewal, <br /> we schedule meetings with the various underwriters in which we provide the <br /> markets with updated renewal data and outline our goals and objectives. <br /> Underwriters enjoy meeting their ultimate consumer and developing a <br /> relationship with them. <br /> The below chart is a partial list of the markets we will access on your behalf. <br /> Internal corporate policy does not allow us to disclose specific premium by <br /> carrier. However, we place over $800m in public entity premium with these <br /> carriers. <br /> Orainge County—request for Broker Qualifications and Conceptual Proposal-September 23,2014 7 <br />
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