Title
Resolution authorizing a contract with ING, Chicago, IL for Group Term and Optional Life Insurance for Lake County for a two (2) year period plus renewals.
Staff Summary
• Lake County desires to enter into a contract for Group Term and Optional Life Insurance for Lake County.
• Lake County extended a request for proposal to 17 potential service providers and received six proposals.
• An ad hoc committee reviewed all proposals and held interviews with the top three providers.
• Based on the criteria set forth in the RFP, the ad hoc committee determined that the proposals submitted by ING, Chicago, IL is the most favorable proposal for Lake County.
• This contract will cost the County an estimated annual amount of $895,000.
Body
WHEREAS, in accordance with Section 5-102 of the Lake County Purchasing Ordinance, proposals were called for by publication for Group Term and Optional Life Insurance for Lake County; and
WHEREAS, subsequent to said publication, request for proposals were extended to 17 providers; and
WHEREAS, sealed proposals were received from six providers and opened in the County Building, Waukegan, Illinois, on June 22, 2011 at 2:00 p.m.; and
WHEREAS, an ad hoc committee held interviews with the top three ranked providers; and
WHEREAS, based on the criteria set forth in the Request for Proposal, an ad hoc committee selected ING, Chicago, IL as the most favorable proposal for Lake County.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois that the Purchasing Agent is hereby directed to enter into a contract with ING, Chicago, IL for Group Term and Optional Life Insurance for Lake County for a two (2) year period plus renewals in the estimated annual amount of $895,000 charged to account #510-1430010-74020 and 510-1430010-74050; and request its adoption.
DATED at WAUKEGAN, LAKE COUNTY, ILLINOIS, on September 13, 2011.