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PROPOSED CONTRACT AMENDMENT
Department(s): Department of Risk Management
Vendor: Marsh & McLennan Agency, LLC (MMA), Chicago, Illinois
Request: Authorization for the Chief Procurement Officer to renew and increase contract
Good(s) or Service(s): Insurance Brokerage Services (Property and Cyber Liability)
Original Contract Period: 7/1/2021 - 6/30/2024 with (1) one, (2) two-year renewal option
Proposed Amendment Type: Renewal and Increase
Proposed Contract Period: Renewal period 7/1/2024 - 6/30/2026
Total Current Contract Amount Authority: $5,612,900.00
Original Approval (Board or Procurement): Board, 3/18/2021, $5,612,900.00
Increase Requested: $3,927,060.00
Previous Board Increase(s): N/A
Previous Chief Procurement Officer Increase(s): N/A
Previous Board Renewals: N/A
Previous Chief Procurement Officer Renewals: N/A
Previous Board Extension(s): N/A
Previous Chief Procurement Officer Extension(s): N/A
Potential Fiscal Impact: FY 2024 $1,944,560.00, FY 2025 $1,982,500.00
Accounts: 11000.1490.13385.520830.00000.00000
Contract Number(s): 2005-18437
Concurrences:
The vendor has met the Minority- and Women-owned Business Enterprise Ordinance via: Direct participation.
The Chief Procurement Officer concurs
Summary: This increase and renewal will allow the Department of Risk Management to continue to receive Insurance Brokerage Services for Property and Cyber Liability lines of coverage. The value is a not-to-exceed amount inclusive of annual broker fees and estimated insurance premiums based on current exposure and loss information.
This contract was awarded through a publicly advertised Request for Proposals (RFP) process in accordance with the Cook County Procurement Code. Marsh & McLennan Agency, LLC (MMA) was selected based on established evaluation criteria. Marsh & McLennan Agency, LLC was assigned the contract from CS Insurance Strategies which was awarded the initial contract pursuant to a publicly advertised RFP.,
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