RFP Insurance Brokerage Consultant

The Illinois State Toll Highway Authority (Illinois Tollway) has awarded a five-year contract to Aon Risk Services Central, Inc. for insurance brokerage consultant services. The contract, identified as 24-557THA-FINAN-P-88861, has a total value of $3,500,000.00, structured as a flat fee of $700,000.00 annually. The contract will run from November 20, 2025, to November 19, 2030, and encompasses comprehensive insurance advisory and procurement services for the agency.

The scope of services includes managing multiple insurance programs for the Illinois Tollway, covering employee benefits, property, casualty, automotive, general and professional liability, equipment breakdown, cyber liability, and specialized insurance needs. The contract includes an estimated $59.5 million in annual insurance premiums, with coverage amounts ranging from $100,000 to $150,000,000 across various policy types. The procurement process incorporated a Business Enterprise Program (BEP) goal of 11% for businesses owned by women, minorities, or persons with disabilities, and the vendor selection involved a comprehensive evaluation of technical capabilities, commitment to diversity, and pricing strategies.