1987-11-23 Regular Meeting - Laserfiche WebLink

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I r r r r r I I L L L L L I. I e e BACKGROUND AND OBJECTIVES Over the last two years the insurance marketplace has undergone a complete reversal from the "soft" market of the early 1980's. The City of La Porte has already felt effects of this shift to a constricted, "hard" market via increased premiums and reduced coverage limits in its liability and property insurance policies. Given the complexities of property and casualty insurance and risk management, it is in the best interest of the City to take an active role in assuring itself that it is demanding and receiving the best coverage, retention of risk methods, service and costs from all providers and at the same time developing its own in-house procedures and capabilities to manage' risks on an ongoing basis. By undertaking a systematic review of major areas of :the City's' opera'tions 'a'nd-developing a.' risk management plan for implementation, the City will place itself ina better position of overall control of the cost of its risk and insurance programs and in a better position to avoid future surprises. Such a ., proactive step would enable the City to control its destiny and assure that the resources of the City are protected as well as the personal fortunes of the elected and appointed officials who serve the City on a paid or volunteer basis. The City of La Porte is seeking the services of an independent risk and insurance management consulting firm to assist the City staff with ongoing risk management problems and issues, The Joseph Ivy Company is available to provide professional advice and counsel to aid the City in maximizing its risk and insurance management and cost containment efforts. A retainer service arrangement for risk management counsel is the most effective risk management option for the City of La Porte. Until the City reaches the point where it requires a full-time risk management function, a retainer with The Joseph Ivy Company will in effect, provide a part time professional risk manager. The City will have at its disposal the expertise of risk management professionals at cost significantly lower than the employment of even a part-time in-house staff person. The Joseph Ivy Company is uniquely qualified to assist the City of La Porte through a retainer services arrangement. The City will realize the following benefits from our approach: * A team of consultants assembled to meet the specific requirements of this ongoing engagement; * An unparalleled understanding by the consulting team of the insurance needs of Texas city governments and the available insurance industry resources; * A thorough, timely and cost efficient delivery of services; * An unqualified commitment of our staff and resources to the needs of the City of La Porte; * Assurance of individualized service and unbiased professional counsel. We will be happy to meet with the City. to discuss the specifics of the proposed engagement if our proposal so merits. Thank you for considering The Joseph Ivy Company. cJJ THE JOSEPH IVY COMPANY