The Vendor is required to provide comprehensive insurance brokerage services.
- Broker will assist agency in managing its insurance needs, ensuring proper risk management, and securing cost-effective insurance coverage.
- Objectives:
• Develop and implement a strategic insurance and risk management program.
• Evaluate and recommend appropriate insurance coverages for agency.
• Negotiate favorable terms and conditions for insurance policies.
• Provide ongoing support and advisory services to agency on insurance-related matters.
- Insurance Program Review, Analysis and Risk Management Advisory Services
- Identify gaps or overlaps in coverage and make recommendations for improvement.
- Advise agency on any changes in insurance laws or regulations that may affect its insurance program.
- Provide ongoing risk management advice and support agency.
- Assist in the development and implementation of risk management strategies and policies.
- Conduct risk assessments and identify potential areas of exposure.
- Recommend risk mitigation measures and best practices.
- Claims Management and Support
• Assist agency in the management of insurance claims, including reporting, documentation, and negotiation with insurers.
• Oversee the submission of claims to ensure accurate and timely processing.
• Develop and maintain a claims tracking report for each appropriate line of coverage to include the matter information, claims adjustor and contact information, status of claim, anticipated coverage, track fees paid and incurred towards retention, and other relevant information.
• Coordinate and attend claim review meetings as needed to provide guidance on the claims process and advocate on behalf of agency to ensure fair and timely resolution of claims.
• Track and analyze claims data to identify trends and recommend preventive measures.
• Prepare and present monthly reports on all lines of coverage, detailing claims activity, status, potential loss exposure and any outstanding issues.
- A comprehensive summary of all insurance policies and coverages with comparisons to prior year premiums.
- Maintain accurate and up-to-date records of all insurance policies, endorsements, and related documents.
- Maintain an organized system for tracking and managing certificates of insurance.
- Provide budget estimates about November of each year for the following fiscal year for all lines of coverage.
- Contract Period/Term: 1 year
- A Virtual Non-Mandatory Pre-Proposal Meeting Date: December 29, 2025
