Insurance Brokerage Advisory and Marketing Services

The vendor is required to provide of the primary insurance program for property, equipment breakdown, general liability, cyber, as well as educational institutions errors and omissions insurance coverage.
- Wrap around insurance program
• These types of policies require that the broker has specialized technical knowledge and established market relationships that will support placement and compliance to all regulatory requirements in a prompt and timely manner.
• These policy placements are marketed and managed directly by the insurance broker.
• These policies fall under an ‘annual fee for service’ basis.
• Any new policy that ‘renews on an annual or multi-year basis will fall under this fee.
o The assigned team and hourly requirements to market and service the account;
o The role or roles that will be performed in the delivery of the service;
o Other than ‘one-time specialized placements’, policies will be subject to commission on initial
placement and then rolled into the annual fee on renewal.
- Specialized one-time policy placements
• During the course of an annual term, ‘one time’ policy placements may be required for specialized insurance policies.
• This includes policies such as construction, surety, clinical trials as well as policies that may be required in other countries.
• Provide an outline of a compensation structure that includes your proposed fee, along with disclosure of any expected retail or wholesale fees and any service as well as any policy type that would not be included as part of the fee.
• Any reference to commission-based compensation must specifically outline service type and commission percentage.
- Transactional activities
• Issuance of certificates of insurance for wrap around coverage. 
• As the majority of certificates are issued by curie, there are limited requests throughout the year for certificates; 
• Annual pink cards; 
• In advance of each renewal period present a renewal strategy, including an assessment of market conditions and outlook over the next 12 months; 
• All quotations of coverage for new and renewal policies;
• Contract review when requested by insurance & risk assessment;
• Provide expertise on related insurance risks and issues as requested by the university.
• Bi-weekly account management meetings to ensure action items are recorded, monitored and closed on a timely basis;
• Accounting activities including premium breakdowns, processing invoices and credits within an appropriate period;
• Provide binder, policy and endorsement review for accuracy and interpretation.
• The broker is required to conduct a complete and comprehensive policy and endorsement review within an acceptable timeframe.
- Contract Period/Term: 3 years