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PROPOSED CONTRACT
Department(s): Department of Risk Management
Vendor: CS Insurance Strategies, Chicago, Illinois
Request: Authorization for the Chief Procurement Officer to enter into and execute
Good(s) or Service(s): Insurance Brokerage Services (Property and Cyber Liability)
Contract Value: $5,612,900.00
Contract period: 7/1/2021 - 6/30/2024 with one (1), two (2) year renewal option
Potential Fiscal Year Budget Impact: FY2021 $1,833,000, FY2022 $1,871,900, FY2023 $1,908,000
Accounts: 11000.1490.13385.520830
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: The Department of Risk Management of the Bureau of Finance respectfully submits this item requesting authorization for the Chief Procurement Officer to enter into and execute a contract with CS Insurance Strategies. This contract is intended to provide Insurance Brokerage Services for Property and Cyber Liability 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 is awarded pursuant to a publicly advertised Request for Proposals (RFP) in accordance with the Cook County Procurement Code. CS Insurance Strategies was selected based on established evaluation criteria.
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