The Broker may utilize intermediaries such as:
- Wholesale brokers
- Surplus lines brokers
- Reinsurance intermediaries
- Managing general agents
If intermediaries are used:
- Their role must be disclosed to the County
- Any compensation paid to such intermediaries must be disclosed prior to binding coverage
6. Term of Service
The initial term of brokerage services shall be one (1) year, beginning with placement of the County’s insurance program for the 2027 policy year, unless otherwise extended by mutual agreement.
The County may renew the agreement annually upon satisfactory performance.
7. Termination
Either party may terminate the agreement with sixty (60) days’ written notice.
Upon termination, the Broker shall cooperate with the County to ensure an orderly transition of records, underwriting information, and insurance documentation.
8. Accuracy of Information
The Broker’s services rely upon accurate and timely information provided by the County.
The County shall be responsible for the accuracy and completeness of information provided to the Broker for insurance placement purposes.
9. Surplus Lines Taxes and Regulatory Charges
Where coverage is placed in the surplus lines market, the County shall be responsible for any applicable:
- Surplus lines taxes
- Regulatory fees
- Stamping office charges
Such charges must be clearly identified on invoices and policy documentation.