Insurance Broker and Consulting Services

The Vendor is required to provide comprehensive actuarial consulting services for state university, supporting informed risk management, insurance strategy, and financial planning.
- The selected consultant/broker must create a recommendation, plan, and timeline to finalize and have coverage on July 1, 2026.
1. Provide a plan that outlines the procedures and a timeline to use in making a transition from the State Program/Pool to a new Broker and new Insurance coverage or staying with the State Program/Pool.
2. Outline how insurance plans, claims, and related activity would be managed, and the resource requirements for agency to manage it if offered through a broker rather than through State Risk.
3. What other lines of insurance coverages or ancillary services might we need to be aware of and account for with direct written policies should we choose to opt out of the State Program/Pool.
a. Describe the pros and cons of higher retentions/deductibles and the impact on premiums.
4. Agency will have some different coverage needs, in addition to the coverage we could potentially share. Coverage we currently have through the State Risk Pool, or potentially required under new policies, may include:
• Accident & Sickness/Workers’ Compensation;
• Aircraft Liability – Owned and Non-Owned;
• Athletics-Related Insurance;
• Auto - Hired & Non-Owned;
• Boiler & Machinery;
• Bonds & Surety;
• Business Interruption;
• Camp & Clinics;
• Club Sports;
• Commercial Crime;
• Commercial Garage;
• Control of Well Insurance and Operator’s Expense;
• Cyber Liability Insurance;
• Excess Directors & Officers/Employment Practices Liability;
• Excess Workers Compensation;
• Fine Arts;
• General Liability
• International Package Policy (FVWC, GL, Auto);
• International Travel related insurance (including emergency, medical, and security services);
• Media Directors & Officers;
• Medical Professional/Malpractice Blanket Policy;
• Property;
• Pollution
• Special Event General Liability;
• Student Liability/IPL and Worker’s Compensation for Internship Placements
• Student Medical Professional Blanket Policy;
• Student Travel
• Tenant User Liability Insurance Program (TULIP);
• Umbrella/Excess;
• Volunteer Accident;
• Volunteer Liability.
- Contract Period/Term: 1 year
- Mandatory Pre-Proposal Meeting Date: July 7, 2025
- Questions/Inquires Deadline: July 10, 2025