Agencies, Brokerages, and Other Insurance Related Activities

The NAICS Category 5242 (Agencies, Brokerages, and Other Insurance Related Activities) encompasses a broad range of insurance-related services, including insurance agency, brokerage, and third-party administration operations. These services involve procuring, managing, and administering various types of insurance coverage, such as health, life, liability, property, and specialized insurance products for government and private sector entities. The category includes professionals who help clients select appropriate insurance plans, process claims, manage provider networks, and provide related administrative support.

The Federal Contract Awards in this category reveal significant government investments in comprehensive insurance management services. Notable awards include a World Trade Center Health Program Third-Party Administrator contract with the Centers for Disease Control and Prevention (CDC) for processing medical claims and managing provider networks. The contract values range from approximately $27,000 for specific embassy-level insurance needs to multi-million dollar comprehensive pharmacy benefits management contracts. Funding agencies frequently include the Department of Labor, Department of Veterans Affairs, and various federal embassies. Many opportunities are unrestricted, allowing both small and large businesses to compete, though some contracts are specifically set aside for small businesses.

Recent Federal Contract Opportunities demonstrate diverse insurance service requirements across government agencies. These include pharmacy benefits management for the Department of Labor's Office of Workers' Compensation Programs, vehicle and liability insurance for various U.S. embassies in countries like Brazil, Singapore, and Zimbabwe, and specialized insurance services like fiduciary liability coverage for government retirement plans. The opportunities span multiple service domains, including claims processing, network management, customer support, and risk mitigation. Performance locations are typically nationwide or at specific federal facilities, with contract periods ranging from one to five years and focusing on comprehensive administrative and claims management services.