HomeMy WebLinkAboutItem 14 - Stop Loss InsuranceITIER-10 TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
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FROM: • RUMBELOW,`
MEETING DATE: AUGUST 5, 2016
SUBJECT: APPROVAL FOR THE AWARD OF RFP 439-2016 FOR STOP
LOSS INSURANCE
City Council to consider award of an annual contract with Munich Re for stop loss
insurance.
109/01191/0 1:1014
Funds are available in account 100-45674-109-1 (Health Insurance Premium) in the
estimated annual amount of $361,000.00.
BACKGROUND:
Request for proposals were taken in accordance with Texas Local Government Code
Chapter 252.022. RFP 439-2016, Stop Loss Insurance, was issued in conjunction with the
City's insurance consultants, McGriff, Seibels and Williams.
The RFP public notice was placed in the Fort Worth Star -Telegram on June 23 and 30,
2016. There were 72 invitations sent out through the eBid Procurement system. Four
agencies submitted proposals.
The City's insurance consultants, McGriff, Seibels and Williams evaluated all proposals
based on the City's requirements and the services offered. Staff reviewed results and
requested that McGriff, Seibels and Williams do best and final proposals from the top
ranked carrier which was Munich Re.
After the Best and Final Proposals were received and evaluated the evaluation team chose
Munich Re as providing the best value proposal for Stop Loss Medical & Rx Insurance.
The final bid tabulation is attached. The contract will be for one year with one optional, one
year renewal.
Staff recommends approval.
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