The vendor is required to provide reinsurance and insurance services including, but not limited to, property, casualty, cyber, masters’ builders risk, reinsurance strategy, reinsurance placement, general insurance placement, special coverage placement including flood and earthquake, analytics, risk management consultation, and training.
- The most cost-effective risk-financing program for member property and liability exposures, including the review of retention levels and insurance limits.
- Report to agency no later than April 1 of each year of firm's best guesstimate of reinsurance renewal premiums for the next fiscal year beginning each September 1.
- Prepare a summary comparing last year's coverage with impending renewal proposals, identifying any differences.
- Verify accuracy and adequacy of excess/reinsurance contracts, endorsements and invoices.
- Assign a commercial insurance licensed representative to secure any ancillary insurance required by agency members, including special events, underground storage tanks, national flood insurance, foreign travel liability, marine, builder's risk, and other miscellaneous insurance.
- Facilitate procuring fidelity, performance, notary and other statutory bonds.
- Assist agency in identifying and evaluating existing and emerging exposures of risk.
- Provide technical assistance, as requested, on agency and member claims.
- Maintain written records including records of marketing packages, policies, premiums, audits, loss data and any other pertinent information affecting coverage placed by the firm.
- Arrange annual in-person meetings with reinsurance underwriters to review reinsurance strategy and placement.
- Contract Period/Term: 3 years
- Questions/Inquires Deadline: June 16, 2025