Insurance Brokerage Services

The Vendor is required to provide insurance agency and brokerage services.
- Legal Compliance
•    Comply with all local, state and federal laws and regulations pertaining to insurance agents licensed in the state.
•    All work pursuant to any contract between the vendor and the insurance authority shall be performed by people licensed appropriately by the state.
- Background and evaluation
•    Develop a thorough understanding of the insurance authority, county, and building authority structure, operations and exposures.
•    Develop an understanding and evaluate the county’s business practices regarding risk and possible transfer of risk to third parties and conduct regular meetings with the authority to review the risk management program. 
•    Review the existing insurance coverages and recommend additional lines or enhancements for consideration.
•    Analyze current insurance market conditions and advise the authority of significant implications for county’s insurance program.
- Insurance policy selection and renewals
•    Collaborate with the authority to develop and implement a renewal marketing strategy, identifying potential markets at least 90 days before policy expiration.
•    Identify suitable programs, products, and insurers that meet the authority’s needs.
•    Coordinate with the authority in preparing applications and supporting materials; arrange underwriter or broker meetings with authority representatives as needed.
•    Provide annual loss runs for each coverage line, for each of five consecutive years following the termination of each policy, valued within three months of the end each policy year. This obligation shall survive the termination of any agreement between the insurance authority and the agency.
•    When authorized, negotiate policy terms with carriers on behalf of the authority and audit policies for accuracy, pricing, terms and conditions. 
•    Facilitate, market, and procure competitive carrier quotes.
•    Review and analyze quotes and present a written report to document proposals received to the authority, no less than thirty (30) days prior to the expiration of policies.
•    Review all policies for accuracy and completeness with the authority before delivery.
•    The selected agency will secure and bind all coverage accepted by the county, will provide binders and/or cover notes as evidence of renewed, replaced, or new insurance policies to the insurance authority prior to the April 1 anniversary date
- Reporting
•    Report all markets approached and provide copies of declinations letters and premium quotes obtained during procurement.
•    Annually deliver a schedule comparing the prior and current year’s programs, highlighting significant changes and a premium comparison between years. 
•    Supply detailed coverage summaries for each policy, including limits, exclusions, enhancements, insuring agreements, exposure basis, and premiums.
•    Provide trend analysis on coverage lines, including limits, deductibles/retentions, anticipated pricing changes, and relevant provisions in comparison to similar organizations.
•    Collaborate with the authority to evaluate the authorities and county’s operations, exposures, and emerging risks for potential coverage.
•    Provide additional schedules as requested to support the authority and county.

- Contract Period/Term: 5 years
- Questions/Inquires Deadline: September 16, 2025