MB-7214 - USA (Texas) - Record for Property and Casualty and Workers Compensation Insurance Services - Deadline April 11,2023

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: MB-7214

Government Authority located in Texas; USA based organization looking for expert vendor for record for property and casualty and workers compensation insurance services.

[*] Budget: Looking for Proposal

[*] Scope of Service:

(1) Vendor needs to provide record for property and casualty and workers compensation insurance services.
- Professional Insurance Consulting & Brokerage Services in support of the City’s Risk Management Program.
- Assist the City in the analysis and design of optimal insurance coverage and proactively monitor and keep the City informed of significant market conditions that may affect its insurance programs by providing early warning of pending rate, coverage or renewal problems, including significant changes in the financial status of insurers
- Work closely with the City to identify and evaluate the City’s risk exposures and provide professional advice regarding the appropriate program structure, cost containment solutions, risk financing vehicles, types and levels of coverage, policy terms and conditions, exclusions, endorsements, the policy renewal process and various self-insured retention levels.
- Provide guidance on insurance or broker-related issues on such projects as the City may request, including but not limited to identifying markets for specialty coverages for vendors or contractors doing business with the City
- Participate in the continuing development and enhancement of the City’s overall risk management program, including recommendations on coverage changes and program adjustments as needed
- Provide and collect industry survey/benchmark information upon request and assist the City with evaluating data in making prudent risk management decisions
- Provide training and educational opportunities to City risk management staff on insurance and risk management topics, etc.
- Provide assistance with forecasting and budgeting during the City’s budget period for annual insurance-related expenditures, including a market forecast by line of coverage;
- Conduct quarterly meetings with the City’s staff to discuss claims, review the City’s loss runs, provide a report to the City of any claim trends and solutions to mitigate cost, review regulatory changes, and discuss general administrative matters
- Conduct annual strategic planning meetings to establish goals, priorities, identify areas of concern and provide recommendations
- Sole Broker of Record Services:
- Develop Market Requests that focus on marketing the City’s Excess Insurance programs to secure cost-effective workers’ compensation, general liability, and other recommended coverages.
- Provide a complete review annually of all insurance policies to assure that the policy language, coverage, and exclusions are in the best interest of the City and that no coverage gaps exist; and
- Assume oversight responsibilities for any insurance policies the City has in place at the beginning of the Firm’s contract period.
(2) All questions must be submitted no later than March 28, 2023.

[*] Eligibility:

Onshore (USA Organizations Only)

[*] Work Performance:

Performance of the work will be Offsite. Vendor needs to carry work in their office location.

[*] Proposal Submission:

Response can be submitted digitally via Email or Online.

Expiry Date : Tuesday, 11 April, 2023

Question Answer Deadline : Tuesday, 28 March, 2023

Category : Medical Billing and Coding, Insurance Services

Country : USA

State : Texas

Cost to Download This RFP Document : $ 5

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