title
PROPOSED CONTRACT
Department(s): Departments of Legal and Finance
Vendor: CS Insurance Strategies, Chicago, Illinois
Request: Authorization for the Forest Preserve District of Cook County to enter into and execute
Good(s) or Service(s): Insurance Brokerage Services (Property)
Contract Value: Not to Exceed $400,000.00 per year
Contract period: 7/1/2022 - 6/30/2023, with a one-year optional renewal to be exercised at the discretion of the General Superintendent
Estimated Fiscal Impact: FY 2022 $400,000.00, FY 2023 (Optional) $400,000.00
Accounts: 51011.700005 (Self Insurance, Other Expense)
Contract Number(s): 74000010710
Concurrences:
The Chief Financial Officer has approved this item. Final agreement is subject to legal review and approval.
The Vendor has met the Minority and Women Owned Business Enterprise Ordinance provisions through direct participation.
District(s): Districtwide
Summary: On March 18, 2021, the Cook County Board of Commissioners approved a contract with CS Insurance Strategies for Insurance Brokerage Services for Property and Cyber Liability coverage (the “County Contract”). The contract was awarded pursuant to a publicly advertised Request for Proposals in accordance with the Cook County Procurement Code.
Currently, the Forest Preserves is self-insured against all losses, including general liability, property damage, and workers compensation. The Forest Preserves would like to piggyback off the County Contract on a sole source basis for property insurance at select locations. The value is a not-to-exceed amount inclusive of annual broker fees and estimated insurance premiums based on current exposure and loss information. After one year, the Forest Preserves intends to explore additional insurance coverage.
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