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Approval of Contract with Arthur J Gallagher & Co. Insurance Brokers of California, Inc. as a result of P2023000002
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The Albuquerque Bernalillo County Water Utility Authority issued the Request for Proposals (RFP) P20232000002, Broker of Record, to solicit proposals from qualified vendors for ongoing insurance broker services.
The RFP was posted on BidSync and advertised in the local newspaper. Five (5) responsive offers were submitted for evaluation. The Ad-Hoc Committee reviewed, evaluated, and scored the responses in accordance with the evaluation criteria published in the RFP.
Based on the recommendation of the Ad-Hoc Committee, the Executive Director recommends the award of a contract to Arthur J Gallagher, as this vendor has the highest composite score, is qualified to perform the work, and meet the requirements of the RFP. The highest total composite score possible, without preferences applied, is 100. All scores listed are the combined average of all Committee members. Listed are all the respondents’ average composite scores with small and/or local preferences and the NM Resident Preference applied for the offeror with an asterisk (*).
Offers Total Composite Score
Alliant 83
AON 80
Arthur J Gallagher 92
Poms & Associates 88*
USI Insurance 90*
Approval of this item will delegate signature authority to the Executive Director to enter into a contract with Arthur J Gallagher for broker services. Approval of this item shall also serve as delegation of authority for the Executive Director to enter into an agreement for Arthur J Gallagher to provide broker services as well as approve all future amendments to this agreement, if any.
FISCAL IMPACT:
The fiscal impact is expected to be $292,854.00 (including all taxes) for the total broker fee for four (4) years and $2,100,000 yearly for all insurance premiums paid by the broker.