Item - 2021.GL27.8

The General Government and Licensing Committee recommends that:

1. City Council authorize the Director, Insurance and Risk Management to negotiate and enter into an insurance broker agreement with Marsh Canada Limited (the "Agreement"), being the highest scoring Supplier meeting the requirements of Request for Proposal Document Number 2759379260 for a term of five (5) years from January 1, 2022 to December 31, 2026 for the following:

a. for insurance broker services for the City's property and casualty insurance program (the "Corporate Insurance Program"), together with ancillary insurance consulting services, all at a cost of up to $525,000 net of all taxes for the insurance broker services for the Corporate Insurance Program and the consulting services; and

b. for the placement of insurance policies as may be required from time to time   as determined by the Director, Insurance and Risk Management under Recommendation 2, for both the Corporate Insurance Program and for division specific purposes ("Divisional Insurance"), payable through Marsh Canada Limited to the insurers at the cost of the insurance premiums, inclusive of broker fees that cannot be determined in advance of purchase, on terms and conditions as set out in the Request for Proposal, and on others terms satisfactory to the Director, Insurance and Risk Management and in a form satisfactory to the City Solicitor.

2. City Council authorize the Director, Insurance and Risk Management to determine the appropriate insurance policies to be placed through the Agreement for both the City's Corporate Insurance Program and for the City's Divisional Insurance that may arise during the term of the Agreement, all upon such terms, including pricing and length of policy term, as are satisfactory to the Director, Insurance and Risk Management, in consultation with Marsh Canada Limited, subject to a Council-approved budget.

The purpose of this report is to advise on the results of the Request for Proposal Document Number 2759379260 for insurance broker services for the City of Toronto and to request authority to negotiate and enter into an agreement with the recommended Supplier, Marsh Canada Limited, for a five (5) year term.

The Chief Financial Officer and Treasurer and the Chief Procurement Officer request authority to contract with and utilize the services of Marsh Canada Limited to access the worldwide insurance marketplace to obtain quotes on insurance policies and report the results to staff, and request that City Council delegate authority to the Director, Insurance and Risk Management or their designate, for the placement of various insurance policies during the term of this agreement.  The costs identified in this report represent insurance broker fees only.  Costs of the various insurance policies to be procured will be determined at the time of their renewal or procurement, and be subject to a Council-approved budget.