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Authority seeking commercial insurance package; Willis Towers Watson engaged for market bids
Summary
Staff said the East Bank Development Authority has engaged Willis Towers Watson through a piggyback contract to solicit market quotes for general liability, workers' compensation, directors and officers, business personal property and limited auto insurance. Staff expects to return to the board in December with award recommendations.
Mr. York updated the board on the authority’s insurance procurement, saying the authority is seeking an insurance package that covers the board and its operations and that it has engaged Willis Towers Watson using a piggyback contract the Convention Center Authority uses.
“As we are not a governmental entity, we do not have our self insured status that metro government keeps,” Mr. York said. He told the board the package being sought includes general liability, workers’ compensation, directors and officers, business personal property and limited auto coverages. He said the request was out to market and that several quotes have returned but the team was waiting on additional responses to make the best decision.
Mr. York described the longer timeline as a market reaction to the authority’s new quasi‑government status and said staff hopes to bring insurance recommendations to a December meeting for board approval. No formal motion or procurement award was taken at the meeting; staff said they would return with proposals and quotes for the board’s consideration.
