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Awarded contract·Jackson County, MO·Missouri

Broker for Property Insurance

Won by Lockton Companies, LLC$893kSingle Award
Contract source

Awarded vendors

  • Lockton Companies, LLC

Description

This contract is for property insurance brokerage services between Jackson County, MO, and Lockton Companies, LLC. The contract has a term of one year, with the option to renew. Lockton will provide services such as analyzing proposals, evaluating the competitiveness of insurance premium pricing, and assisting with claim issues. The contract also outlines the compensation structure, with Lockton earning a commission of 8.25% of the premium charged. The key aspects of this contract include the scope of work, compensation, and termination provisions. Some of the key points include: * Lockton will provide property insurance brokerage services to Jackson County, MO * The contract term is one year, with the option to renew * Lockton will earn a commission of 8.25% of the premium charged * The contract outlines the scope of work, including analyzing proposals and evaluating the competitiveness of insurance premium pricing * The contract also outlines the termination provisions, including the requirement for 60 days' written notice

Attached files

Key dates

Starts
10/1/2019
Ends
10/1/2020Renews
Duration
1 year

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Insurance
NAICS
524210
Solicitation №
103928

Contract value

$892,844

The contract value can be estimated based on the commission structure and the premium charged. According to the contract, Lockton will earn a commission of 8.25% of the premium charged, and the total premium is estimated to be $1,535,709,278. Therefore, the total contract value can be estimated as follows: $1,535,709,278 x 8.25% = $126,672,111. However, this is just an estimate, and the actual contract value may vary.

AI estimate from the award documents

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