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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 /> Insurance Carrier Financial ratings as measured by A.M. Best Co., Moody's and <br /> Standard and Poor's <br /> wa, Orange County's desired structure options <br /> Exposure spreadsheet analysis and graphs <br /> ni Loss control activities and enhancements <br /> Relevant loss data <br /> Factors, such as multi-year rate commitments from the carriers to assist with <br /> annual budgeting. This also helps ensure that a carrier does not simply low bid <br /> the program in year one and expect substantial rate increases in the following <br /> years. <br /> �m Development of program alternatives represents one of the most important <br /> elements of our client service. As part of our marketing process, our review of <br /> your current program includes an analysis of potential new capacity, new <br /> program structures, and any cost benefits associated therewith. We will <br /> endeavor to provide you with multiple program design options, including but not <br /> limited to your current risk financing arrangement. <br /> v%i We will negotiate terms and conditions, keeping you fully informed via regular <br /> updates during the marketing and negotiation process. <br /> us Once we have achieved the best outcome for you, we will provide our written <br /> recommendations as to which program should be bound and with which <br /> insurers. Our recommendations regarding insurers will comply with Willis' <br /> market security standards and will reflect our opinion as to both the long-term <br /> and short-term advantages/benefits (as well as disadvantages, if any) of our <br /> recommended program. <br /> Upon receipt of your instructions, we will bind coverage with the selected <br /> markets and provide written confirmation to you prior to inception. <br /> This marketing and placement process is approached as a partnership with the <br /> client, the markets, and Willis. As such, we invite your engagement in the <br /> marketing process from start to finish. <br /> IVIARKEHNG TwELINE <br /> We schedule renewal strategy meetings with our clients to establish a renewal <br /> timeline that is fluid and is based on our mutual agreement. This timeline will <br /> outline the responsibilities of each party involved and the due dates for these <br /> action items to be completed. The timeline creates clear communication with our <br /> clients and we believe this type of communication has contributed to our high <br /> level of client retention. Please see below a sample of a draft renewal timeline <br /> that is typically created in our first strategy meeting. <br /> Orange County—Bequest]Or Broker Qualifications and Conceptual Proposal-September 23, 2014 13 <br />
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