ESTATE-6549 - USA (Tennessee) - Insurance Broker Services - Deadline February 3,2023

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: ESTATE-6549

Government Authority located in Tennessee; USA based organization looking for expert vendor for insurance broker services.

[*] Budget: Looking for Proposal

[*] Scope of Service:

(1) Vendor needs to provide insurance broker services to develop, market, place, and administer an insurance program to cover all activities to the government authority located in Nashville, TN.
• Preparing technical specifications for incorporation into a solicitation.
• Assisting agency staff in developing responses to the proposer’s questions.
• Serving as a non-scoring technical advisor to the TPA RFP evaluation team, analyzing proposals, reviewing proposals for reasonableness with the evaluation team, and identifying and making a recommendation on exceptions, deviations, and nonconformance with the requirements of the solicitation.
o Assist agency in identifying its risks of loss from third-party liability exposures.
o Develop Specifications for agency’s liability insurance program.
o Market agency’s risks to the worldwide marketplace and ensure competitive rates.
o The selected broker will be required to provide agency documentation of their marketing efforts by providing to agency the following information for all intermediaries responding to the broker’s marketing efforts.
o Agency requires that all broker’s state the maximum commission rate that will be payable to the intermediaries.
o Provide information on all brokerage fees which shall include: any basic commission and service negotiated with the insurers; commissions contingent on volume of profit; any facultative re-insurance commissions connected with the original insurance; revenue and income arising from any other relevant source. Broker’s must agree to provide this information in the future at each renewal.
o The selected Broker will be permitted to place insurance through intermediaries including the selected Broker’s proprietors, affiliates, subsidiaries, parent, or joint venture partners.
o Check the language and accuracy of each policy, binder, certificate, endorsement or other document received from insurers and obtain revisions in such documents when needed.
o Verify the accuracy of all rates and premium charges.
o Promptly submit originals of all policies and endorsements to agency.
o Be available to answer questions from agency personnel.
o Obtain answers from underwriters to policy coverage questions.
o Continually monitor agency operations and loss exposure, and recommend appropriate coverage changes or new coverage.
o Assist agency in identifying risks in contractual agreements and in seeking appropriate indemnification and insurance protection from other parties to contracts.
o Attend meetings with the agency board and agency personnel, as requested.
o Review and comment on insurer loss control activities as requested by agency.
o Prepare insurance certificates and endorsements as requested by agency.
o Assure that insurance policies are placed with reputable and financially responsible insurers.
o Develop and monitor claims procedures on liability and property programs, including auditing of claim files.
o Develop and maintain accurate claim data on an accident date basis and provide agency with a monthly status report.
o At least 60 days prior to the program anniversary, submit a written report stating
o Work with agency’s third-party claims administrator.
(2) All questions had been submitted no later than January 18, 2023.

[*] Eligibility:

- Onshore (USA Only);

[*] Work Performance:


Expiry Date : Friday, 3 February, 2023

Question Answer Deadline : Wednesday, 18 January, 2023

Category : Real Estate, Brokerage Services, Maintenance, Repair and Alteration of Property

Country : USA

State : Tennessee

RFP Expired

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