Insurance Brokerage Services

The Vendor is required to provide for professional broker services which will include insurance brokerage and risk management services.
- The broker selection process is being separated from any insurance carrier selection and/or marketing effort.
- Designing, marketing, placing, maintaining, and servicing a general insurance program that may include but may not be limited to:
•    Real and Personal Property (including rolling stock, i.e., buses and rail cars)
•    Boiler and Machinery
•    Directors and Officers
•    Railroad Protective Liability
•    Crime Coverage and Bonds
•    Fiduciary Liability
•    Other Miscellaneous Insurance Coverage and Bonds
•    Electronic Data Processing Insurance
•    Terrorism
- Workers Compensation claims are self-insured and administered by a Third-Party Administrator with the agency providing management and oversight.
- Insurance market status, availability, and cost of coverage affect the annual purchase of various policies.
- Risk Management/Brokerage Services
•    Provide 24-hour catastrophic assistance services.
•    Provide timely responses to all inquiries and requests within 48 hours; attend meetings as required.
•    Cooperate with, and assist, any outside or corporate counsel.
•    Maintain current records of exposures.
•    Provide coverage analysis of proposed and existing policies and provide insights and early warning of rate/coverage changes and impact on agency insurance program.
•    Review of insurance policies, binders, plan documents, service agreements and endorsements on a timely basis for accuracy and compliance with specifications which are then to be forwarded with an explanation of any differences/variances from prior documents.
•    Marketing for assigned property and casualty coverages to include analysis of risk financing alternatives.
•    Preparation of insurance coverage specifications, submissions and assistance with preparing underwriting applications.
•    Assistance in establishing insurable values for real and personal property.
•    Issuance of certificates of insurance when requested.
•    Summary of insurance within 30 days of renewal.
•    Annual fee/commission report within 30 days of renewal.
•    Annual report within 120 days prior to renewal that apprises the agency of their overall insurance
•    Status, highlighting areas requiring action, and providing an outlook section dealing with new developments, upcoming events or possible future concerns.
•    Provide a risk management consulting assessment after 90 days of contract award.
•    Placement of surety and other miscellaneous bonds.
•    Periodic reports and meetings.
•    Ensure that all underwriters provide loss runs, as appropriate.
•    Assistance in the performance of risk identification, consideration of risk financing alternatives and in the analysis of loss data.
•    Assist with any internal claims’ audits, insurance company audits, retrospective ratings or other premium adjustment calculations.
•    Assistance in preparing an internal annual risk management/insurance program review.
•    Assistance, consultation and advisement of other agency risk management assessments in agreements, contracts, projects, and other matters.
•    General loss control and claims management consulting services, including but not limited to the reporting of occurrences and claims to insurers along with preparation of a quarterly bordereau, review, interpretation and advisement of insurance policies relative to reported claims, etc.
•    Assistance in designing allocation methodology within the agency organizational hierarchy structure as a means for managing the agency cost of risk.
•    Actuarial services.
•    Annual preparation of a comprehensive insurance program policy Binder.

- Contract Period/Term: 5 years
- Questions/Inquires Deadline: January 07, 2026