Brokers of Record Services

The Vendor is required to provide the professional services of one or more Brokers of Record (BOR) to procure the following lines of coverage: property, general liability, excess/umbrella liability, and such other insurance as may be required in the normal course of the acquisition and operation of real property in accordance with the minimum coverage amounts.
- Brokerage services must also include market research, policy endorsements, certificates of insurance, and coverage consultation on claims filed against agency.
- The BOR will also advise on a continuing basis, and in a timely manner, of all significant matters and developments regarding carrier service issues.
- Proactively provide ongoing review and analysis of agency insurance programs and identification of risk transfer options. Be ready and available to answer insurance related concerns.
- provide assistance to agency on loss control programs with claims related to the lines of coverage under the contract by identifying problem areas such as claim handling, safety hazards, uninsured risks, or other pertinent matters.
- Accounting of all income received on agency account, if applicable, including income to affiliates, subsidiaries, parent organizations, and the method by which fees are calculated for charges other than base fee.
- Cooperate in any transition to another broker when requested by agency.
- Marketing Insurance Program
•    Market the insurance needs of agency by preparing underwriting specifications and bid packages for all insurance placements, including renewals.
•    Review of risk financing alternatives including self-insured retention (“SIR”) or deductible changes.
•    Recommend coverages consistent with the exposures to provide the highest level of coverage at the least possible cost to agency.
•    Negotiate with underwriters on terms and conditions to obtain the most beneficial and cost-effective coverages available to agency. Provide regular updates on such negotiations to agency designee.
•    Assure the insurance policies are placed in a timely manner without lapses in coverage periods, utilizing reputable and financially responsible insurers.
•    Review new policies, binders, certificates, endorsements, exclusions, or other documents when they are received, verify that all negotiated coverage enhancements and other terms are provided and obtain revisions in such documents when needed.
•    Ensure proper claims administration and handling of all claims presented to the carrier for defense and indemnification under the insuring agreement.
- Budget: $300,000,000

- Contract Period/Term: 1 year
- Questions/Inquires Deadline: September 03, 2025