Insurance Carriers and Related Activities

Code 524
Parent/Child
Popular Federal Contract Opportunities
Not listed
Popular Federal Contract Awards
Not listed

NAICS 524 encompasses insurance carriers and related activities, focusing on risk management and financial protection services. This category includes companies that provide various types of insurance coverage, such as life, health, property, and casualty insurance. These organizations assess risks, develop insurance products, underwrite policies, and process claims for individuals, businesses, and government entities.

The federal contract awards in this category primarily involve health insurance services for locally employed staff at U.S. Embassies and government agencies worldwide. Typical contract values range from $500,000 to $5.5 million, with performance periods spanning one base year and four one-year option periods. The Department of State is the most frequent awarding agency, with contracts typically set aside as unrestricted and performed in various international locations including France, Poland, Papua New Guinea, and Georgia. Key contractors appear to include local and regional insurance providers with capabilities to serve government personnel across diverse geographical regions.

Recent federal contract opportunities within this NAICS category demonstrate a substantial focus on health and life insurance services for government employees. The solicitations primarily originate from the Department of State and cover locations such as Thailand, Bosnia and Herzegovina, and Brazil. Specific requirements include comprehensive medical coverage, group life insurance, and third-party administration services. Opportunities range from providing insurance for locally employed staff at international embassies to specialized services like pharmacy benefit management and business travel accident insurance. The contracts consistently emphasize the need for vendors to be registered in the System for Award Management (SAM) and capable of serving geographically dispersed government personnel.

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