A. The city shall procure liability, workmen’s compensation and property insurance coverage by sealed competitive proposals for up to a five- (5-) year period either through one (1) or more insurance brokers, directly from an insurance company or through participation in a joint insurance arrangement established in accordance with AS 21.76.010.

B. The city shall procure insurance intended to benefit city employees by competitive sealed proposals for up to a five- (5-) year period either through one (1) or more insurance brokers, directly from an insurance company or through participation in a health insurance trust or similar arrangement established in accordance with applicable state or federal law.

C. Competitive sealed proposals shall be solicited in accordance with BMC 4.20.040. The city may hire a consultant to assist in either soliciting or evaluating the competitive sealed proposals. [Ord. 14-27 § 4.]