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Contract - Insurance Broker Services
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INFORMATION CONTACT:
Jeff Morgan, Security Risk Management, Director, 407-592-7051
ACTION REQUESTED:
Authorize the County Manager to 1) negotiate and execute an agreement substantially consistent with this agenda item, 2) exercise any renewal or extension term options set forth in the Agreement, and 3) terminate the Agreement if deemed in the best interest of the County, each in the County Manager's discretion.
PRIOR BOARD ACTIONS:
None.
BACKGROUND:
The Procurement Department partnered with the Security Risk Management Department to issue Request for Proposals #2026-019 Insurance Broker Service. On September 30, 2025, two proposals were received and reviewed by an evaluation team in accordance with applicable evaluation criteria for this project. As a result, the team requests approval to enter into a contract with the top scoring/ranked preferred offeror, USI Insurance Services, LLC, to provide insurance brokerage services. This contract has an initial term of two years with three, one-year renewal options at the sole discretion of the County and is subject to annual budget appropriation.
FINANCIAL IMPACT:
The anticipated annual cost for this service is $62,500 in years one and two. Costs for years three through five are $67,500, $70,000 and $72,500, respectively. Since this contract contains a two-year initial term and three one-year renewal options, a total of $335,000 is estimated to be spent. Funding is available in the adopted FY2026 budget with future expenditures subject to annual BOCC budget appropriation.