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ESTATE-2621 - USA (Rochester, New York) - Broker of Record for Life and Long-Term Disability Insurance - Deadline September 30,2019

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: ESTATE-2621

Government Authority located in Rochester New York; USA based organization looking for expert vendor for broker of record for life and long-term disability insurance.

[A] Budget: Looking for Proposals

[B] Scope of Service:

(1) Vendor needs to provide broker of record for life and long-term disability insurance to the government authority located in Rochester, NY.
1. Insurance Marketing and Placement:
(A) The Broker must:
- Market the insurance programs prior to expiration of policies, indicating in writing markets being approached and coverage options being considered,
- Identify programs, product and insurers capable of quoting and meeting insurance needs for upcoming renewals,
- Provide unbiased alternate insurance proposals no later than 60 days prior to expiration of policies and
- Provide a minimum of three competitive quotes for each type of coverage.
(B) The broker must negotiate the best terms and coverage for each coverage exposure and:
- verify the accuracy and adequacy the proposals in conformance with specifications,
- prepare a comparison of coverage and pricing between each competitive solicitation and the expiring policies,
- Compare policy forms and coverage with the expiring policies,
- Provide a comprehensive financial analysis and
- Evaluate the results making recommendations as to which proposals should be selected. Proper documentation of such negotiations, analysis and recommendations shall be Provided.
2. Ongoing Insurance Service:
- The broker will be responsible for the review, marketing and placement of such other insurance coverage as may be required by the authority subsequent to being appointed broker of record.
- The broker must provide assistance on determining annual updated replacement values of
property and equipment. - The broker must perform broker and risk management and other related services customarily expected of a broker, including but not limited to: delivering insurance policies or binders; accurately amend policies, as needed; upon request providing timely, written interpretation of coverage and represent authority in communications with carriers regarding coverage issues. 3. Other Services:
- The broker must be available for consultation on an as-needed basis. this includes meetings in person as the request and same day telephone consultation. this may include meetings with the authority's board, attorney or staff and consulting services for various risk related issues in contractual agreements, programs, projects and unique or unusual circumstances. - The broker must provide assistance with forecasting and budgeting for annual insurance and risk management related expenditures, including a market forecast by line of coverage during the authority’s budgeting period.
(2) All the questions must be submitted no later than September 25, 2019.

[C] Eligibility:

Onshore (USA Only)

[D] Work Performance:

Not Applicable

Expiry Date : Monday, 30 September, 2019

Question Answer Deadline : Wednesday, 25 September, 2019

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

Country : USA

State : New York

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