Insurance Brokerage Services

The vendor is required to provide insurance brokerage services for include:
- General
•    Provide an annual report which includes a summary of insurance coverage, market trends, program performance, and any other information that may help in managing agency insurance portfolio, 
•    Remit binders and policy confirmation within 72 hours of being bound.
•    Remit policies and endorsements on a timely basis. 
•    Issue certificates of insurance required by third parties within two (2) business days or as requested.
•    Issue certificates of auto insurance in a timely manner.
•    Provide response to insurance related inquiries within 24 hours of the request that includes an estimation of the service delivery.
- Policy management
•    Keep up to date on insurance market trends and regulatory changes and seek out the most favorable terms and conditions for agency
•    Ensure early engagement with agency on insurance renewals (minimum 60 days prior to expiration). 
•    Recommend appropriate insurance products based on agency risk profile, including potential self-insurance options, 
•    Collect data for renewal and update schedule of values
•    Perform annual insurance program review and prepare submissions to underwriters for quotations 
•    Review suitability of insurers based on required coverage and received quotes 
•    Negotiate competitive premiums and provide policies and coverage summaries 
•    Manage timelines and communications with insurers to ensure seamless policy renewals
- Risk management
•    Conduct annual site inspections and audits to identify physical, operational, and financial risks 
•    Conduct annual risk exposure analyses to assess any potential liabilities in agency lines of coverage 
•    Conduct an annual risk profile to help agency understand it’s risk tolerance 
•    Develop strategies to minimize the likelihood and severity of claims 
•    Suggest strategies for and assist in development business continuity plans 
•    Provide contract review and recommendations regarding insurance requirements, binding and indemnities.
- Claims management
•    Provide consultant services regarding claims related matters and assistance in administration of claims. 
•    Liaise with insurers to expedite claims processing and negotiate favorable outcomes, 
•    Monitor status of claims and keep agency informed throughout the process.

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: November 14, 2025