The SVRCONN is the channel on the queue manager, so yes, you will need to get someone to set this server side.
You can review the documentation here.
The default value of 300 seconds means that if the socket is idle for 5 minutes, then a heartbeat flow will be sent. This 5 minutes is likely way longer than the idle timeout on your firewall, hence you want this heartbeat flow to go more frequently, so setting the 300 seconds down to a lower number like 60 seconds, or even 30 seconds, will mean more frequent heartbeat flows which will keep the channel connection alive and make it less likely that the firewall will close it for being idle. However, it is worth checking with your firewall administrators what they are using as an idle timeout.
You can read about MQRC_BROKEN_CONNECTION here.
Cheers,
Morag