City to issue RFQ for insurance brokerage as current three‑year contract nears expiration

Peculiar staff told the Board of Aldermen July 21 that the city will issue a request for qualifications (RFQ) for property and liability insurance brokerage services before the existing Stafford & Stafford contract expires in September.

Why it matters: The broker helps the city obtain liability coverage from a small set of insurers that underwrite public entities in Missouri. Changing brokers does not necessarily change the city’s liability carrier; brokers commonly receive commission from insurers rather than direct city payment, staff said.

City Clerk (Miss Seuss) and staff explained that the current brokerage contract is a three‑year agreement that expires in September and that the city must complete the RFQ and board action by August to have time for award and contract execution. Staff recommended a solicitation period of roughly three weeks to allow proposals to be returned in time for board consideration. The clerk said the broker selects the city’s liability insurance carrier (currently Travelers) and that the city continues to pay premiums to the insurance carrier; the broker works on the city’s behalf to secure coverage compatible with the city’s needs.

Board members discussed forming a review committee to evaluate proposals; one alderman offered to serve and another noted a background in insurance would be helpful on the committee. Staff said past RFQs for similar services have ranged from two weeks to 30 days and that three weeks is a reasonable target to ensure sufficient responses and time for board review ahead of the September contract expiration.

Next steps: Staff will draft the RFQ, determine the solicitation period (staff recommended three weeks), and return to the board for award and contract approval in August.