Insurance Brokerage Services

The Vendor is required to provide for insurance brokerage services to complement corporation self-insurance program.
- The process will include the marketing, procurement, and placement of insurance coverage (or alternatives) that will complement corporation self-insurance program.
- The broker shall furnish its professional services to corporation during the term of this agreement and any other professional insurance services needed per individual task orders issued by corporation.
- The current vehicle fleet is comprised of 220 fixed-route buses, 79 paratransit buses, and 41 battery electric buses.
- Insurance coverage is insured through programs of self-insurance for auto liability and commercial insurance for all other lines of coverage.
- Current lines of coverage include:
•    Property;
•    Fiduciary Liability;
•    Public Officials Liability / Employment Practices;
•    Cyber;
•    Crime; and
•    Builders' Risk.
- Insurance Marketing Services
•    Assist in the development, preparation, and packaging of underwriting data. 
•    The broker will prepare written specifications for review by corporation before placement activities. 
•    This includes, but is not limited to, loss histories, applicable real and personal property valuations, business interruption, extra expense, catastrophic loss potential, self-insured retention and deductible amounts, and coverage specifications, including policy limits required. 
•    Also includes the completion of required policy applications. 
•    The awarded broker will conduct pre-renewal market strategies and advise corporation on all relevant options.
•    Obtain or assist in the preparation of specifications for bids, quotes, proposals, or rejections from the appropriate insurance companies or markets. 
•    This is not limited to policies currently underwritten. 
•    Insurance needs may change during the term of the contract. 
•    The broker will develop special reports and/or policy forms as necessary or as otherwise requested by corporation. 
•    Quotes from the insurance marketplace must be without commissions (net) and must comply with local, state, federal, and agency procurement procedures. 
•    Insurance premium invoices from the broker must not include commission.
•    Brokers will negotiate with underwriters and intermediaries to obtain the most favorable conditions of coverage at the most economical price for corporation.
•    Broker insurance renewals within a year beginning july 1st through june 30th each year.
•    Broker will disclose commissions and fees associated with placing coverages in domestic and overseas markets. 
•    These fees, if any, should be transparent and negotiated in the best interest of corporation.
•    Provide detailed comparisons of year-over-year coverage levels and premiums of existing and proposed insurance policies and serve as corporation advocate in coverage and/or premium disputes. 
•    Recommend changes in coverage or enhancements when determined by corporation.
•    Maintain and provide documentation for insurance applications, quotes, renewals or non-renewals, annual renewal board reports, rejections, policy discounts, discount broker services, endorsements, binders, certificates of insurance, loss control recommendations, and cancellations.
•    Assist with annual forecasting of premiums for budgeting purposes.
•    Provide recommendations and assist with property value assessments at corporation request.
- Administration and Risk Consulting Services
•    Issue the required certificates of insurance (COIS) for corporation in connection with its use of property, easements, bus stops or stations, leases, contracts, and agreements.
•    To attend meetings with corporation upon request regarding insurance and risk-related items. Scheduling would be given in advance.
•    Provide an annual renewal strategy and update to binding coverages to corporation as requested.
•    Provide consultation or information related to insurance strategies in brokering services to corporation.
•    Placement of fidelity and surety bonds required by corporation in compliance with local and state statutes.
- Property & Casualty Loss Control:
•    Assist corporation with the identification and evaluation of potential loss exposures. 
•    Provide suggestions of alternative strategies that would impact coverage limits or premium amounts.
•    Make personal loss control visits and safety inspections when requested by corporation, and assist with scheduling and coordination of any underwriters’ loss control inspections.
- Claims Administration Services
•    Coordinate with corporation and its contracted third-party administrator (TPA) to evaluate loss run reports when required by primary and excess carriers, or as otherwise requested by corporation.
•    Provide insurance claim assistance and serve as an advocate in claims disputes when requested by corporation.
- Placement and Brokerage Services
•    Prepare written specifications for the review by corporation before marketing.
•    Conduct market strategy meetings with corporation before placement of coverage.
•    Prepare and submit written market intelligence reports before strategy meetings with corporation.
•    Prepare and submit a “broker of record letter” to each policy underwriter as needed.
•    Arrange meeting(s) with underwriters and/or intermediaries when requested before yearly quotations.
•    Provide the current “a.m. Best” rating of all underwriters, including sub-providers if a tower structure is used.
•    Disclose re-insurer interests in any transaction. 
•    Broker will obtain copies of reinsurance agreements and contracts when requested. 
•    Broker will provide details of all contingency arrangements with insurers and any broker ownership interests.
•    Disclose any conflicts of interest or affiliations between corporation, broker services, other contracted service providers, and any past or future potential claims.
•    Provide written proposals, include at a minimum:
o    Coverage limits and deductibles
o    Policy period
o    Sample endorsements
o    Specimen policies
o    Specific exclusions
o    Claim notification provisions
o    Key underwriter and claim contacts for each insurer broker services
o    Net premium amount by line coverage
o    Total net yearly premium
o    Net service or insurance fees
o    Percent amount change over the last five years.
•    Provide written confirmation in advance of the placement of coverage that all premiums are net of commission.
- Customer Service
•    Comprehensive insurance and risk management services tailored to public bus operations.
•    Insurance coverage & claims support: secure appropriate coverage, advocate during claims, and provide strategic risk guidance.
•    Online risk management portal: real-time access to:
o    Policy documents, invoices, and certificates
o    Claims data and status
o    Renewal alerts and billing history
•    Risk tools & analytics:
o    Risk scoring models and benchmarking reports
o    Heat maps for high-risk areas
•    Training & education:
o    Webinars, safety toolkits, and regulatory updates
•    Compliance support:
o    Tools for act, dot, and state insurance compliance
o    Market trend insights and performance dashboards.

- Contract Period/Term: 3 years
- Pre-Proposal Meeting Date: September 12, 2025
- Questions/Inquires Deadline: September 19, 2025