Insurance Broker Services

The Vendor is required to provide insurance brokerage support and placement of necessary coverages in excess of the fund self-insurance program. 
- Such placement shall be on an annual fee basis.
- Such analysis must include pricing and market trends, the availability of coverage, and the long-term direction of the market, including the financial stability of key insurance carriers.
- Provide full support for administering a self-insured fund and a Captive as requested, to include, but not limited to:
•    Develop coverage policy forms,
•    Underwriting,
•    Rating,
•    Claims Handling,
•    Additional services related to Captive support and operation.
- Annual marketing efforts to include:
•    Provide recommendations for trending increases to reflect reasonable appreciation of property values.
•    Facilitate review and completion of applications during the underwriting period; assist with gathering of other underwriting data to supplement submission.
•    Prepare market submissions based on data provided by agency.
•    In conjunction with agency, design, draft, and negotiate insurance policy terms, conditions, and endorsements.
•    Coordinate and facilitate carrier/underwriter meetings with university to foster relationships and long-term partnerships.
•    Provide annual stewardship report detailing the previous year’s insurance renewal, including any changes made to the program, the reasoning behind those changes, an analysis of key performance indicators, an overview of risk management services provided, and recommendations for future strategies, potential coverage adjustments, and goals for the coming year.
- Provide regular communications to the Client (e.g., articles of interest, white papers) on developments and trends in the insurance industry and higher education risk management.
- Facilitate, arrange, and attend meetings with the Client and insurance carriers at various points throughout the year for the involvement in the reporting, investigation, and settlement of applicable claims and coverage disputes.
- Assist with the development of proper insurance limits, terms, and conditions required of third-party contractors to ensure compliance with university policies and to mitigate risk as part of the purchasing process at the University; provide annual review and updates.
- Provide an online platform designed to streamline the issuance, tracking, and management of Certificates of Insurance, or assist with issuing a minimum of 1,000 COIs annually. 
- Provide each campus with a list of certificates before annual renewal to facilitate review, updating, and minimizing redundancy.

- Contract Period/Term: 1 year
- Questions/Inquires Deadline: September 01, 2025