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PROPOSED CONTRACT AMENDMENT
Department(s): Department of Risk Management
Vendor: Mesirow Insurance Services, Inc. Chicago, Illinois
Request: Authorization for the Chief Procurement Officer to renew and increase contract
Good(s) or Service(s): Insurance Brokerage Services
Original Contract Period: 7/1/2016 - 6/30/2019, with (2) two, one (1) year renewal options
Proposed Contract Period Extension: 7/1/2019-6/30/2020
Total Current Contract Amount Authority: $30,060,455.00
Original Approval (Board or Procurement): 6/8/2016, $30,060,455.00
Previous Board Increase(s) or Extension(s): N/A
Previous Chief Procurement Officer Increase(s) or Extension(s): N/A
This Increase Requested: $9,000,000.00
Potential Fiscal Impact: FY 2020 $9,000,000.00
Accounts: 11000.1490.520830 General Professional Services
Contract Number(s): 1590-14938
Concurrences:
The vendor has met the Minority- and Women-owned Business Enterprise Ordinance via direct participation.
The Chief Procurement Officer concurs.
Summary: The Department of Risk Management of the Bureau of Finance respectfully submits this item requesting authorization for the Chief Procurement Officer to exercise the first amendment option to a contract with Mesirow Insurance Services, Inc. to provide insurance brokerage and professional services.
This contract is a product of a publically advertised Request for Proposals (RFP) which included a three (3) year initial term with two (2), one (1) year renewal options. The requested increase of $9,000,000.00 is intended to cover annual broker fees and estimated insurance premiums.
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