REQUEST FOR PROPOSAL

RFP COVER SHEET

Administrative Information

RFP Number 005-RFP-2678-2026 Title of RFP Group Errors and Omissions Insurance – Iowa Real Estate Commission

Agency Iowa Department of Administrative Services (DAS) on behalf of the Iowa Department of Inspections, Appeals, and Licensing (DIAL)

Available to other State agencies? No Available to Political Subdivisions? No State Issuing Officer:

Jocelyn Brincks Phone: 515-499-3659 E-mail: Jocelyn.Brincks1@iowa.gov

PROCUREMENT TIMETABLE—Event or Action Date/Time (Central Time) State Posts Notice of RFP on the TSB website May 15, 2026 State Issues RFP May 17, 2026 RFP written questions, requests for clarification, and suggested changes from Respondents due

May 26, 2026

2:00 PM

Proposals Due June 16, 2026

2:00 PM

Relevant Websites Internet website where the Addenda to this RFP will be posted IMPACS Electronic Procurement System.

Contract Template A draft of the awarded contract with terms & conditions is attached within the solicitation posting on

IMPACS.

Firm Proposal Terms The minimum number of days following the deadline for submitting proposals that the Respondent guarantees all proposal terms, including price, will remain firm is 120 Days.

ATTACHMENTS

Attachment 1 – Referenced Iowa Code and Administrative Rules Exhibit A – Cost Proposal Form https://bids.sciquest.com/apps/Router/PublicEvent?CustomerOrg=DASIowa

SECTION 1 INTRODUCTION

1.1. Purpose

The purpose of this Request for Proposals (RFP) is to solicit proposals from Responsible Respondents to provide the goods and/or services identified on the RFP cover sheet. The Agency intends to award a Contract(s) for the initial period identified on the RFP cover sheet, and the Agency, in its sole discretion, may extend the Contract(s) for up to the number of annual extensions identified in Section 7.

1.2. Definitions

For the purposes of this RFP and the resulting contract, the following terms shall mean:

“Agency” means the agency identified on the RFP cover sheet that is issuing the RFP and any other agency that purchases from the Contract.

“Contract” means the contract(s) entered into with the successful Respondent(s) as described in Section 7.1.

“Contractor” means the awarded business/person to provide the contractual services agreed upon.

“Deliverable” means the completion of a milestone or accomplishment of a task.

“General Terms and Conditions” means the General Terms and Conditions for Services Contracts as referenced on the RFP cover page.

“Proposal” means the Respondent’s proposal submitted in response to the RFP.

“Respondent” means the company, organization or other business entity submitting a proposal in response to this RFP.

“Responsible Respondent” means a Respondent that has the capability in all material respects to perform the scope of work and specifications of the Contract. In determining whether a Respondent is a Responsible Respondent, the Agency may consider various factors including, but not limited to, the Respondent’s competence and qualifications to provide the goods or services requested, the Respondent’s integrity and reliability, the past performance of the Respondent and the best interest of the Agency and the State.

“Responsive Proposal” means a Proposal that complies with the material provisions of this RFP.

“RFP” means this Request for Proposals and any attachments, exhibits, schedules or addenda hereto.

“State” means the State of Iowa, the Agency, and all state agencies, boards, and commissions, and any political subdivisions making purchases from the Contract as permitted by this RFP.

1.3. Overview of the RFP Process

This RFP is designed to provide Respondents with the information necessary for the preparation of competitive Proposals. The RFP process is for the Agency’s benefit and is intended to provide the Agency with competitive information to assist in the selection process. It is not intended to be comprehensive. Each Respondent is responsible for determining all factors necessary for the submission of a comprehensive Proposal.

Respondent should review Request for Confidentiality, for more information if its Proposal contains confidential information. Any Proposal marked “Confidential” or “Proprietary” on every page may be disqualified.

It is the Agency’s intention to evaluate Proposals from all Respondents that submit timely Responsive Proposals, and award the Contract(s) in accordance with the evaluation and selection criteria provided in this RFP.

1.4. Background

The Iowa Real Estate Commission is responsible for ensuring the availability and administration of a group errors and omissions (professional liability) insurance program for all active Iowa-licensed real estate professionals. This includes resident and non-resident brokers, broker associates, salespersons, and licensed firms (corporations and partnerships).

Pursuant to Iowa Code section § 543B.47, the group policy must not grant the insurance provider the right to cancel coverage for individual licensees. Licensees retain the option to obtain independent coverage, provided such coverage meets the minimum statutory requirements. The statute does not prescribe specific premium amounts to be charged to licensees.

As of April 24, 2026 there were 9,507 resident licensees in active status, including firms, broker officers, broker sole-proprietors, broker associates, and salespersons, as well as 1,798 non-resident active licensees. Additionally, there were 1,481 resident and non-resident licensees in inactive status.

1.5. Objectives

The State of Iowa seeks to establish a contract for a group insurance program that provides cost-effective coverage along with comprehensive administrative services. These services include, but are not limited to, claims handling and investigation, maintenance of computerized loss records, management reporting, establishment of claim reserves, and processing of claim payments.

SECTION 2 ADMINISTRATIVE INFORMATION

2.1. Issuing Officer

The Issuing Officer identified in the RFP cover sheet is the sole point of contact regarding the RFP from the date of issuance until a Notice of Intent to Award the Contract is issued.

2.2. Restriction on Communication

From the issue date of this RFP until a Notice of Intent to Award the Contract is issued;

Respondents may contact only the Issuing Officer. The Issuing Officer will respond only to written questions regarding the procurement process. Questions related to the interpretation of this RFP must be submitted as provided in Section 2. Oral questions related to the interpretation of this RFP will not be accepted. Respondents may be disqualified if they contact any State employee other than the Issuing Officer about the RFP except that Respondents may contact the State Targeted Small Business Office on issues related to the preference for Targeted Small Businesses.

This section shall not be construed as restricting communications related to the administration of any contract currently in effect between a Respondent and the State.

2.3. Downloading the RFP from the Internet

The RFP and any addenda to the RFP will be posted at IMPACS Electronic Procurement System.

The Respondent is advised to check the website periodically for addenda to this RFP, particularly if the Respondent downloaded the RFP from the Internet as the Respondent may not automatically receive addenda. It is the Respondent's sole responsibility to check daily for addenda to posted documents.

2.4. Procurement Timetable

The dates provided in the procurement timetable on the RFP cover sheet are provided for informational and planning purposes. The Agency reserves the right to change the dates. If the Agency changes any of the deadlines for Respondent submissions, the Agency will issue an addendum to the RFP.

2.5. Questions, Requests for Clarification, and Suggested Changes Respondents are invited to submit written questions and requests for clarification regarding the RFP. Respondents may also submit suggestions for changes to the specifications of this RFP. The questions, requests for clarifications, or suggestions must be in IMPACS on or before the date and time listed. Oral questions will not be permitted. If the questions, requests for clarifications, or suggestions pertain to a specific section of the RFP, Respondent shall reference the page and section number(s). The Agency will post written responses to questions, requests for clarifications, or suggestions received from Respondents in IMPACS.

The Agency assumes no responsibility for oral representations made by its officers or employees unless such representations are confirmed in writing and incorporated into the RFP through an addendum.

2.6. Amendment to the RFP

The Agency reserves the right to amend the RFP at any time using an addendum. The Respondent shall acknowledge receipt of all addenda in its Proposal. If the Agency issues an addendum after the due date for receipt of Proposals, the Agency may, in its sole discretion, allow Respondents to amend their Proposals in response to the addendum.

2.7. Amendment and Withdrawal of Proposal

The Respondent may amend or withdraw and resubmit its Proposal at any time before the Proposals are due. The Proposal must be updated and submitted using IMPACS. Electronic mail and faxed amendments will not be accepted. Respondents must notify the Issuing Officer in writing prior to the due date for Proposals if they wish to completely withdraw their Proposal(s).

2.8. Submission of Proposals

Respondents must submit Proposals in the State’s IMPACS Electronic Procurement System before the “Proposals Due” date and time listed on the RFP cover sheet. This is a mandatory specification and will not be waived by the Agency. Any Proposal received after this deadline will be rejected and returned unopened to the Respondent. Respondents sending Proposals must allow ample upload time to ensure timely receipt of their Proposals. It is the Respondent’s responsibility to ensure that the Proposal is received prior to the deadline. Electronic mail and faxed Proposals will not be accepted. There is a 50MB per file size limitation, but no limit to the number of files. Plan accordingly.

Respondents must furnish all information necessary to enable the Agency to evaluate the Proposal. Oral information provided by the Respondent will not be considered part of the Respondent’s Proposal unless it is reduced to writing.

2.9. Proposal Opening

The Agency will open Proposals after the deadline for submission of Proposals has passed. The Proposals will remain confidential until the Agency has issued a Notice of Intent to Award a Contract. See Iowa Code Section 72.3. However, the names of Respondents who submitted timely Proposals will be publicly available after the Proposal opening. The announcement of Respondents who timely submitted Proposals does not mean that an individual Proposal has been deemed technically compliant or accepted for evaluation.

2.10. Costs of Preparing the Proposal

The costs of preparation and delivery of the Proposal are solely the responsibility of the Respondent.

2.11. No Commitment to Contract

The Agency reserves the right to reject any or all Proposals received in response to this RFP at any time prior to the execution of the Contract. Issuance of this RFP in no way constitutes a commitment by the Agency to award a contract.

2.12. Rejection of Proposals

The Agency may reject outright and not evaluate a Proposal for reasons including, without limitation:

2.12.1. The Respondent fails to deliver the Cost Proposal in a separate file.

2.12.2. The Respondent acknowledges that a mandatory specification of the RFP cannot be met.

2.12.3. The Respondent’s Proposal changes a material specification of the RFP or the Proposal is not compliant with the mandatory specifications of the RFP.

2.12.4. The Respondent’s Proposal limits the rights of the Agency.

2.12.5. The Respondent fails to include information necessary to substantiate that it will be able to meet a mandatory specification of the RFP.

2.12.6. The Respondent fails to timely respond to the Agency’s request for information, documents, or references.

2.12.7. The Respondent fails to include proposal security, if required.

2.12.8. The Respondent fails to include any signature, certification, authorization, stipulation, disclosure, or guarantee as provided in the Contract Terms and Conditions and IMPACS.

2.12.9. The Respondent presents the information requested by this RFP in a format inconsistent with the instructions of the RFP or otherwise fails to comply with the specifications of this RFP.

2.12.10. The Respondent initiates unauthorized contact regarding the RFP with a State employee other than the Issuing Officer.

2.12.11. The Respondent provides misleading or inaccurate responses.

2.12.12. The Respondent’s Proposal is materially unbalanced. A Proposal in which line item prices are structured so that it is possible that the Respondent who appears to be low will not end up having the lowest overall cost to the State due to high prices on particular line items.

2.12.13. There is insufficient evidence (including evidence submitted by the Respondent and evidence obtained by the Agency from other sources) to satisfy the Agency that the Respondent is a Responsible Respondent.

2.12.14. The Respondent is a “scrutinized company” included on a “scrutinized company list” created by a public fund pursuant to Iowa Code section 12J.3

2.13. Nonmaterial Variances

The Agency reserves the right to waive or permit cure of nonmaterial variances in the Proposal if, in the judgment of the Agency, it is in the State’s best interest to do so. Nonmaterial variances include but are not limited to, minor failures to comply that: do not affect overall responsiveness, are merely a matter of form or format, do not change the relative standing or otherwise prejudice other Respondents, do not change the meaning or scope of the RFP, or do not reflect a material change in the specifications of the RFP. In the event the Agency waives or permits cure of nonmaterial variances, such waiver or cure will not modify the RFP specifications or excuse the Respondent from full compliance with RFP specifications or other Contract specifications if the Respondent is awarded the Contract. The determination of materiality is in the sole discretion of the Agency.

2.14. Reference Checks

The Agency reserves the right to contact any reference to assist in the evaluation of the Proposal, to verify information contained in the Proposal and to discuss the Respondent’s qualifications and the qualifications of any subcontractor identified in the Proposal.

2.15. Information from Other Sources

The Agency reserves the right to obtain and consider information from other sources concerning a Respondent, such as the Respondent’s capability and performance under other contracts, the qualification of any subcontractor identified in the Proposal, the Respondent’s financial stability, past or pending litigation, and other publicly available information.

2.16. Verification of Proposal Contents

The content of a Proposal submitted by a Respondent is subject to verification. If the Agency determines in its sole discretion that the content is in any way misleading or inaccurate, the Agency may reject the Proposal.

2.17. Proposal Clarification Process

The Agency reserves the right to contact a Respondent after the submission of Proposals for the purpose of clarifying a Proposal. This contact may include written questions, interviews, site visits, a review of past performance if the Respondent has provided goods and/or services to the State or any other political subdivision wherever located, or requests for corrective pages in the Respondent’s Proposal. The Agency will not consider information received from or through Respondent if the information materially alters the content of the Proposal or the type of goods and/or services the Respondent is offering to the Agency. An individual authorized to legally bind the Respondent shall sign responses to any request for clarification. Responses shall be submitted to the Agency within the time specified in the Agency's request. Failure to comply with requests for additional information may result in the rejection of the Proposal.

2.18. Disposition of Proposals

All Proposals become the property of the State and shall not be returned to the Respondent. Once the Agency issues a Notice of Intent to Award the Contract, the contents of all Proposals will be public records and be available for inspection by interested parties, except for information for which Respondent properly requests confidential treatment according to exceptions provided in Iowa Code Chapter 22 or other applicable law.

2.19. Public Records and Requests for Confidential Treatment

The Agency’s release of public records is governed by Iowa Code Chapter 22. Respondents are encouraged to familiarize themselves with Chapter 22 before submitting a Proposal. The Agency will copy and produce public records upon request as required to comply with Chapter 22 and will treat all information submitted by a Respondent as non-confidential records unless the Respondent requests specific parts of the Proposal be treated as confidential at the time of the submission as set forth herein AND the information is confidential under Iowa or other applicable law.

2.20. Copyright Permission

By submitting a Proposal, the Respondent agrees that the Agency may copy the Proposal for purposes of facilitating the evaluation of the Proposal or to respond to requests for public records.

By submitting a Proposal, the Respondent consents to such copying and warrants that such copying will not violate the rights of any third-party. The Agency shall have the right to use ideas or adaptations of ideas that are presented in Proposals.

2.21. Release of Claims

By submitting a Proposal, the Respondent agrees that it will not bring any claim or cause of action against the Agency or the State based on Respondent’s misunderstanding concerning the information provided in the RFP or concerning the Agency's or the State’s failure, negligent or otherwise, to provide the Respondent with complete, pertinent, or accurate information in this RFP, or for any failure to provide information that any Respondent might consider relevant for purposes of making a decision to submit a Proposal or to enter into any Contract resulting from this RFP.

2.22. Respondent Presentations

Respondents may be required to make a presentation. The determination as to need for presentations, and the location, order, and schedule of the presentations is at the sole discretion of the Agency. The presentation may include slides, graphics and other media selected by the Respondent to illustrate the Respondent’s Proposal. The presentation shall not materially change the information contained in the Proposal.

2.23. Evaluation of Proposals Submitted

Proposals that are timely submitted and are not rejected will be reviewed in accordance with Section 6 of the RFP. The Agency will not necessarily award a Contract resulting from this RFP to the Respondent offering the lowest cost. Instead, the Agency will award the Contract(s) to the Responsible Respondent(s) whose Responsive Proposal the Agency believes will provide the best value to the Agency and the State.

2.24. Award Notice and Acceptance Period

Notice of Intent to Award the Contract(s) will be sent to all Respondents submitting a timely Proposal and may be posted at the website shown on the RFP cover sheet. Negotiation and execution of the Contract(s) shall be completed no later than thirty (30) days from the date of the Notice of Intent to Award or such other time as designated by the Agency. If the successful Respondent fails to negotiate and deliver an executed Contract by that date, the Agency, in its sole discretion, may cancel the award and award the Contract to the remaining Respondent the Agency believes will provide the best value to the State.

2.25. No Contract Rights until Execution

No Respondent shall acquire any legal or equitable rights regarding the Contract unless and until the Contract has been fully executed by the successful Respondent and the Agency.

2.26. Choice of Law and Forum

This RFP and the Contract shall be governed by the laws of the State of Iowa. Changes in applicable laws and rules may affect the award process or the Contract. Respondents are responsible for ascertaining pertinent legal requirements and restrictions. Any and all litigation or actions commenced in connection with this RFP shall be brought in the appropriate Iowa forum.

2.27. Preference

By virtue of statutory authority, a preference will be given to products and provisions grown and coal produced within the state of Iowa. Preference application: Tied responses to solicitations, regardless of the type of solicitation, are decided in favor of Iowa products and Iowa-based businesses per IAC 11 117.6(1)-(2), 117.13(4).

2.28. Restrictions on Gifts and Activities

Iowa Code Chapter 68B restricts gifts which may be given or received by State employees and requires certain individuals to disclose information concerning their activities with State government. Respondents are responsible to determine the applicability of this Chapter 68B to their activities and to comply with its requirements. In addition, pursuant to Iowa Code section 722.1, it is a felony offense to bribe or attempt to bribe a public official.

2.29. No Minimum Guaranteed

The Agency does not guarantee any minimum level of purchases under the Contract.

2.30. Post Solicitation Debriefing

A debriefing is available to any Respondent who submitted a proposal in response to this RFP.

Respondent shall submit a written request for a debriefing to the Issuing Officer via email or other delivery method. All Respondents will be accorded fair and equal treatment with respect to its opportunity for debriefing. The debriefing shall be scheduled by the Agency as soon as practicable after the receipt of debriefing request.

2.31. Appeals

A Respondent whose Proposal has been timely filed and who is aggrieved by the Notice of Intent to Award of the Department may appeal the decision by emailing a written notice of appeal (in accordance with 11—Chapter 117.20, Iowa Administrative Code) to the Director of the Department of Administrative Services and carbon copy to the Issuing Officer. The notice must be filed within five (5) days of the date of the Notice of Intent to Award issued by the Department, exclusive of Saturdays, Sundays, and legal state holidays. The written notice may be filed by fax transmission to 515.725.2064. The notice of appeal must clearly and fully identify all issues being contested by reference to the page, section and line number(s) of the RFP and/or the Notice of Intent to Award. A notice of appeal may not stay negotiations with the apparent successful Respondent.

SECTION 3 FORM AND CONTENT OF PROPOSALS

3.1. Instructions

These instructions describe and define the format and content of the Proposal. They are designed to facilitate a uniform review process. Failure to adhere to the Proposal format may result in the rejection of the Proposal.

3.1.1. The Proposal shall be divided into two parts: (1) the Technical Proposal and (2) the Cost Proposal. The Technical Proposal and the Cost Proposal shall be labeled as such as separate files. The files shall be labeled with the following information:

005-RFP-2678-2026 - Respondent Name - Technical Proposal 005-RFP-2678-2026 - Respondent Name - Cost Proposal

Files must be attached to Respondent’s submission in the State’s IMPACS Electronic Procurement System.

3.1.2. If the Respondent designates any information in its Proposal as confidential pursuant to Section 2, the Respondent must also submit a public copy Proposal from which confidential information has been excised as provided in Section 2 and which is marked “Public Copy”.

005-RFP-2678-2026 - Respondent Name - Public Copy

3.1.3. Proposal shall not contain promotional or display materials.

3.1.4. Attachments shall be referenced in the Proposal.

3.1.5. If a Respondent proposals more than one solution to the RFP specifications, each shall be labeled and submitted in a separate Proposal, and each will be evaluated separately.

3.2. Technical Proposal

Any information provided in the Technical Proposal is subject to consideration for consideration, evaluation, and scoring. The following documents and responses shall be included in the Technical Proposal in the order given below:

Exhibit 1 - Transmittal Letter An individual authorized to legally bind the Respondent shall sign the transmittal letter. The letter shall include the Respondent’s mailing address, electronic mail address, and telephone number.

Exhibit 2 - Executive Summary The Respondent shall provide a concise summary outlining its overall approach, key differentiators, and understanding of the project objectives. The Executive Summary shall include, at a minimum:

• A statement demonstrating the Respondent’s acknowledgement of, and agreement to, the terms and conditions of the RFP, including the Contract provisions in Section 7.

• An overview of the Respondent’s proposed approach for meeting the requirements and specifications of this RFP.

• Any additional information the Respondent considers relevant to illustrate its qualifications or enhance the Agency’s understanding of the Proposal.

Exhibit 3 - Firm Proposal Terms The Respondent shall guarantee in writing the goods and/or services offered in the Proposal are currently available and that all Proposal terms, including price, will remain firm for the number days indicated on the RFP cover sheet following the deadline for submitting Proposals.

Exhibit 4 - Respondent Background Information The Respondent shall provide the following general background information:

• Name, address and telephone number of the Respondent’s representative to contact regarding all contractual and technical matters concerning the Proposal.

• Name, address, telephone number, fax number and e-mail address of the Respondent including all d/b/a’s or assumed names or other operating names of the Respondent and any local addresses and phone numbers.

• State of incorporation, state of formation, or state of organization.

• Does the Respondent’s state of residence have a preference for instate Contractors? Yes or No. If yes, provide the resident preference information.

• Form of business entity, e.g., corporation, partnership, proprietorship, or LLC.

• Number of employees.

• Type of business.

• Name, contact information and qualifications of any subcontractors who will be involved with this project the Respondent proposes to use and the nature of the goods and/or services the subcontractor would perform.

• Awarded Respondent will be required to register to do business in Iowa before payments can be made. For Contractor registration documents, go to:

https://das.iowa.gov/procurement/vendors/how-do-business

Exhibit 5 - Experience The Respondent must provide the following information regarding its experience:

• Number of years in business.

• Number of years of experience with providing the types of services sought by the RFP.

• The level of technical experience in providing the types of services sought by the RFP.

• A list of all goods and/or services similar to those sought by this RFP that the Respondent has provided to other businesses or governmental entities.

• Letters of reference from three (3) previous or current customers or clients knowledgeable of the Respondent’s performance in providing goods and/or services similar to the goods and/or services described in this RFP and a contact person and telephone number for each reference.

Exhibit 6 - Financial Information The Respondent must provide the following financial information:

• Audited financial statements for the last three (3) years.

• A minimum of two (2) financial references, including organization name, contact person, telephone number, and email address.

Exhibit 7 - Termination, Litigation, and Debarment The Respondent must provide the following information for the past five (5) years:

• Has the Respondent had a contract for goods and/or services terminated for any reason?

If so, provide full details regarding the termination.

• Describe any damages or penalties assessed against or dispute resolution settlements entered into by Respondent under any existing or past contracts for goods and/or https://das.iowa.gov/procurement/vendors/how-do-business services. Provide full details regarding the circumstances, including dollar amount of damages, penalties and settlement payments.

• Describe any order, judgment or decree of any Federal or State authority barring, suspending or otherwise limiting the right of the Respondent to engage in any business, practice or activity.

• A list and summary of all litigation or threatened litigation, administrative or regulatory proceedings, or similar matters to which the Respondent or its officers have been a party.

• Provide any irregularities discovered in any of the accounts maintained by the Respondent on behalf of others. Describe the circumstances and disposition of the irregularities. Failure to disclose these matters may result in rejection of the Proposal or termination of any subsequent Contract. The above disclosures are a continuing requirement of the Respondent. Respondent shall provide written notification to the Agency of any such matter commencing or occurring after submission of a Proposal, and with respect to the successful Respondent, following execution of the Contract.

Exhibit 8 – Specifications The Respondent shall indicate whether it will comply with each specification set forth in Section 5 of this RFP. Where additional detail is required beyond a yes-or-no response, or where specifically requested within the specification, the Respondent shall provide a detailed explanation describing how the specification will be met. Merely restating or repeating the specifications in Section 5 may be considered non-responsive and may result in rejection of the Proposal.

The Respondent must clearly identify and describe any deviations from the specifications of this RFP, including any specification the Respondent is unable to satisfy. Failure to comply with the specifications of this section may result in rejection of the Proposal at the Agency’s discretion.

3.3. Cost Proposal

The Respondent shall provide its Cost Proposal (Exhibit A) as a separate file from the Technical Proposal. All prices must be quoted in accordance with the terms and conditions of this RFP. The Cost Proposal shall provide an all-inclusive, itemized total cost in U.S. Dollars. Prices must include all travel, freight, and other expenses. All pricing shall be FOB Destination and based on Net 60 Days Payment Terms.

Cost proposals must include the following:

• Provide any one time and recurring costs for services. Recurring costs are to be for a 6-year period to cover the initial term and extensions to the Contract.

• Any other costs associated with proposed services.

• Pricing for optional services.

SECTION 4 SCOPE OF WORK

Overview The Successful Respondent (“Contractor”) shall provide the services to the State in accordance with the requirements as provided in this Scope of Work.

4.1. Description of Services

The Contractor shall provide comprehensive administration of a group Errors and Omissions (E&O) insurance program for the Iowa Real Estate Commission in accordance with Iowa Code § 543B.47.

Services shall include, but are not limited to:

• Program administration;

• Billing and premium collection;

• Marketing and outreach;

• Claims handling and investigation;

• Maintenance of computerized loss records;

• Management reporting; and

• Claim payment processing.

All services must comply with Iowa Code § 543B.47 and applicable Iowa Administrative Rules included as Attachment 1.

4.2. Coverage Requirements

The Contractor must provide a group master policy that meets or exceeds the following statutory and agency requirements:

4.2.1. General Requirements

The Contractor must maintain a minimum of $1,000,000 in E&O coverage for itself throughout the contract term including any renewal periods.

4.2.2. Named Insureds

The named insured under the group policy shall be the Iowa Real Estate Commission on behalf of licensees and others as described in this section. Errors and Omissions coverage is a mandatory licensing requirement. Licensees may not be excluded, cancelled or non-renewed because of individual loss history.

The policy must cover:

4.2.2.1. All individuals licensed under Iowa Code Chapter 543B for activities requiring an Iowa license (whether conducted in or out of state).

4.2.2.2. Licensed real estate firms, corporations, partnerships, or other employer of an insured for vicarious liability for the wrongful acts of licensed individuals.

4.2.2.3. Heirs, executors, and assigns of the insured under (a) and (b) in their capacity as such.

4.2.3. Minimum Limits

Minimum limits are $100,000 per occurrence / $100,000 aggregate. Coverage must be on a claims-made basis and defense must be in addition to limits of liability.

The retroactive date of the master policy is July 1, 1991. Coverage terms shall provide full and complete “prior acts” coverage as individually determined by the inception date of coverage for each licensee that provides proof of continuous coverage.

4.2.4. Deductibles

The primary program shall have a $0 deductible for claims or defense.

4.2.5. Covered Activities

Coverage must include all activities under Iowa Code chapter 543B, including routine "Appraisals" (market analysis/valuations for listing or guiding buyers) as performed by real estate licensees.

4.2.5.1. The E&O insurance program is not required to cover the following:

• Activities performed by a certified appraiser covered under Iowa Code

Chapter 543D.

• Punitive damages, fraudulent acts, bodily injury, or personal injury.

4.2.6. Specimen Policy

The Contractor must submit the policy, forms, and rates for approval by the Commissioner of Insurance prior to offering the policy in Iowa.

4.2.7. Extended Reporting Period (ERP)

A 90-day automatic reporting period upon termination is required. Licensees must have the option to purchase a 3-year ERP at a cost not exceeding 200% of the current annual premium.

If an insured’s license is placed in an inactive status during a year in which that licensee has paid for the premium, coverage shall continue for the remainder of the policy year for the licensee as if the license had not been placed on inactive status, regardless of whether the license is reinstated, except that coverage shall not be applicable to acts committed during the period when the license was on inactive status.

4.2.8. Excess Liability or Buy-Up Option

Excess liability coverage in various amounts up to $1,000,000 in the aggregate must be made available to brokerage firms whose licensees are insured under the master group policy. Excess coverage may be provided by a carrier other than the one placing the primary coverage. The excess carrier must be admitted to do business in the state of Iowa, but need not be an Iowa domiciled carrier. The excess coverage shall be under terms and conditions which are standard in the industry for similar types of excess coverage.

4.2.9. Proof of Insurance

The Respondent is responsible for assisting insured in providing proof of insurance annually. The current license renewal cycle is December 31 of each year with one-third of all licensees renewing every third year. The Professional Licensing and Regulations Division would like to maintain this cycle. Therefore, it is necessary to require proof of insurance annually as a prerequisite to continuing licensure throughout the three-year term. Further, Iowa law permits the Agency to request proof of insurance in random or other audits.

4.3. Administration

The Contractor shall be responsible for all administrative and billing functions necessary for operation of the E&O program, including but not limited to:

4.3.1. Enrollment and Licensee Administration

4.3.1.1. Maintain an accurate, up-to-date electronic database of insured licensees.

4.3.1.2. Provide reports to the Agency as needed, but no less than annually.

4.3.1.3. Provide electronic notification of coverage to the Agency in a mutually agreed format.

4.3.1.4. Issue certificates of insurance to licensees within thirty (30) calendar days of coverage inception or renewal as required by Iowa insurance law.

4.3.1.5. Ensure coverage is in place prior to issuance, reinstatement, or activation of any license, with effective dates aligned accordingly.

4.3.1.6. Administer prorated coverage for new enrollees and mid-term additions.

4.3.1.7. Coordinate with the Agency, which retains responsibility for enforcement of licensing compliance.

4.3.1.8. Licensees converting from another carrier to the State program shall have an effective date of coverage that coincides with the expiration of their prior coverage, provided the application and full premium are received by that date.

The expiration date shall align with the State program policy term.

4.3.1.9. Licensees whose status becomes inactive during a policy term and who are subsequently reinstated within the same policy term shall not be charged an additional premium.

4.3.2. Data Exchange and Coordination with Agency

4.3.2.1. Utilize Agency-provided licensee data for program administration and communications.

4.3.2.2. Accept and process updates from the Agency regarding licensee status and contact information.

4.3.2.3. Provide regular electronic reporting of insured and non-insured licensees within ten (10) working days of premium due dates.

4.3.2.4. The Agency shall provide the Contractor with an up-to-date electronic schedule of all active licensees approximately ninety (90) to one hundred twenty (120) days prior to policy inception or renewal. The Contractor may rely on the accuracy of addresses provided by the Agency, as licensees are required to notify the Agency of any address changes.

4.3.3. Billing and Premium Collection

4.3.3.1. Develop and distribute initial billing notices to all eligible licensees no later than

105 days prior to the policy inception or renewal date.

4.3.3.2. Develop educational or explanatory materials with billing notices. All materials must be Agency-approved.

4.3.3.3. Issue reminder notices via email to non-enrolled licensees between December 1 and December 15.

4.3.3.4. Establish payment deadlines no later than twenty (20) calendar days prior to renewal or inception, unless otherwise agreed.

4.3.3.5. Collect premiums directly from licensees and consider premiums fully earned upon issuance of coverage.

4.3.3.6. Process enrollments outside the standard renewal cycle and transmit coverage data to the Agency in a timely manner.

4.3.4. Customer Service and Communications

4.3.4.1. Provide toll-free telephone service and electronic communication options for licensee inquiries.

4.3.4.2. Respond to questions regarding coverage, enrollment, and program requirements.

4.3.4.3. Distribute informational materials regarding coverage, program changes, and requirements.

4.4. Marketing and Outreach

The Contractor shall be responsible for marketing and promoting the E&O program to eligible licensees. Responsibilities include:

4.4.1. Development and distribution of brochures, educational materials, and other outreach content;

4.4.2. Clear explanation of coverage, enrollment requirements, and program benefits;

4.4.3. Inclusion of Contractor contact information for all program-related inquiries; and

4.4.4. Optional educational seminars or informational sessions, as requested by the Agency.

4.5. Forms and Reporting

The Contractor shall develop, maintain, and utilize all necessary forms and reporting mechanisms required for program administration, including:

4.5.1. Electronic reporting tools and data files to transmit coverage information accurately and efficiently to the Agency;

4.5.2. Standardized forms and communications for licensee notifications, including proof of coverage;

4.5.3. Regular and ad hoc reports required by the Agency; and

4.5.4. Systems that support secure, timely, and primarily electronic data transmission.

4.6. Performance Measures

Performance-based measures are required in all State contracts pursuant to Iowa Code § 8.47.

The Contractor shall meet the performance standards set forth in this Section throughout the term of the Contract, including any renewal periods.

4.6.1. Monitoring and Audit

The Agency reserves the right to monitor Contractor performance and request supporting documentation to verify compliance with the performance standards.

4.6.2. Remedies for Non-Performance

If the Contractor fails to meet the performance standards, the Agency may require corrective action and may place a portion of the service fee at risk, as applicable.

Where a Service Fee at Risk is applied, the amount shall be paid or credited to the Agency within thirty (30) days following final determination of non-compliance.

4.6.3. Performance Evaluation Table

PERFORMANCE AREA STANDARD EVALUATION CRITERIA REMEDY

CUSTOMER SERVICE Respond to licensee and Agency inquiries within three (3) business days;

resolve routine inquiries within five (5) business days

Timeliness of responses and resolution, as measured by Agency review

Contractor shall submit a corrective action plan within ten (10) business days of notice;

continued non-compliance may be considered a breach of contract

BILLING &

NOTIFICATIONS

Distribute billing notices and reminders within required timeframes;

maintain accurate billing and premium collection

Timeliness of notices and billing accuracy, based on Agency review and reported data

Contractor shall reissue corrected communications at no cost; repeated errors may result in administrative remedies

REPORTING & DATA

ACCURACY

Submit required reports within specified timeframes; maintain at least 99% accuracy in data provided to the Agency

Timeliness and accuracy of reports, based on Agency validation

Contractor shall correct and resubmit reports within five (5) business days; ongoing issues may result in escalation and potential contract action

SECTION 5 SPECIFICATIONS

Overview The successful Respondent shall provide the goods and/or services to the State in accordance with the specifications and technical specifications as provided in this Section. Respondents shall address each specification and clearly indicate compliance (“Yes” or “No”). Where a specification requires explanation, or where a simple yes/no is insufficient, Respondents shall describe how compliance will be achieved.

Responses must address each specification directly. Repetition of the specification without substantive response may be deemed non-responsive. Respondents shall identify any exceptions, deviations, or inability to comply with any requirement. The Agency reserves the right to reject any Proposal that fails to meet or adequately address the requirements of this Section.

5.1. Mandatory Specifications

All items in this Section are Mandatory Specifications. Respondents must indicate “Yes” or “No” for each requirement and provide an explanation of compliance. A “Yes” response constitutes agreement to comply with the requirement for the full term of the Contract if awarded. Where required, Respondents shall provide supporting documentation, references, or other materials demonstrating compliance. The Agency reserves the right to evaluate whether submitted responses and supporting materials adequately demonstrate the Respondent’s ability to comply with all Mandatory Specifications. Proposals that fail to demonstrate compliance may be rejected.

5.1.1. Respondent shall have a current A.M. Best rating of A- or better. The insurance carrier must be admitted to do business in the State of Iowa, but need not be an Iowa domiciled carrier.

5.2. Scored Technical Specifications

All items listed below are Scored Technical Specifications. Responses will be evaluated in accordance with Section 6.

5.2.1. Technical Approach and Service Delivery

Describe your overall approach to delivering the services outlined in Section 4.1, including:

5.2.1.1. A detailed implementation and administration plan;

5.2.1.2. Roles and responsibilities of the Contractor, insurance carrier, and Agency;

5.2.1.3. Timeline for implementation and ongoing service delivery; and

5.2.1.4. Identification and role of any subcontractors, including how subcontracting may impact performance.

5.2.2. Coverage Requirements

Respondents shall demonstrate how the proposed policy complies with all requirements in Section 4.2. Responses must include the following information:

5.2.2.1. Compliance and Coverage Structure

• A statement confirming compliance with all mandatory coverage requirements;

• A description of covered activities, exclusions, and limitations; and

• Confirmation that all Iowa resident licensees are covered for activities under Iowa Code Chapter 543B, regardless of where such activities occur. For non-resident licensees, identify whether coverage extends to activities performed outside the State of Iowa and describe any applicable limitations.

5.2.2.2. Policy Features and Optional Coverage

• Details regarding extended reporting period (ERP) options and excess liability or buy-up coverage; and

• Any additional enhancements, endorsements, or value-added coverage features.

5.2.2.3. Prior Acts Coverage

Respondents shall clearly identify and explain:

• Applicable prior acts coverage periods;

• Any additional cost associated with prior acts coverage;

• Required documentation or proof of continuous coverage;

• Whether a single uniform premium applies to all licensees or whether pricing varies by eligibility; and

• How eligibility for prior acts coverage is determined over time, including any renewal or tiering methodology.

5.2.2.4. Excess Liability / Buy-Up Options

Respondents shall describe:

• Pricing methodology for excess liability coverage;

• Whether participation in the group program remains required or optional when excess coverage is selected; and

• Availability of excess coverage to individual licensees in addition to firms.

5.2.3. Program Administration

Describe in detail how you will administer the program, including:

5.2.3.1. Enrollment and licensee administration processes;

5.2.3.2. Data exchange and coordination with the Agency;

5.2.3.3. Billing and premium collection procedures;

5.2.3.4. Customer service and communication approach;

5.2.3.5. Marketing and outreach activities; and

5.2.3.6. Forms, reporting, and electronic data transmission methods, including the systems and technology used to support these functions as well as maintaining licensee records.

5.2.4. Proof of Insurance

Describe your procedures for administering and providing proof of insurance, including:

5.2.4.1. How proof of coverage will be generated, distributed, and tracked;

5.2.4.2. Roles and responsibilities of the Contractor and the Agency; and

5.2.4.3. How compliance with annual proof of insurance requirements will be ensured.

5.2.5. Claims Administration

Describe your approach to claims handling and administration, including:

5.2.5.1. Claim intake, investigation, and resolution processes;

5.2.5.2. Establishment and management of claim reserves;

5.2.5.3. Claims reporting and communication with the Agency; and

5.2.5.4. Maintenance of loss records and trend reporting.

5.2.6. Specimen Policy

Provide a specimen policy, including all applicable forms, endorsements, and rates for review.

5.2.7. Certificate of Insurance

Respondent shall provide a certificate of insurance demonstrating a minimum of $1,000,000 in Errors and Omissions coverage for the Respondent.

5.2.8. Optional Specifications

All items listed below are optional, non-mandatory specifications. These specifications will be evaluated and scored in the technical proposal. Costs for optional specifications shall be identified in the Cost Proposal but will not be considered in the cost score.

5.2.8.1. Value-Added Services

Describe any additional services or enhancements offered that are relevant to the Scope of Work. For each service, identify:

• The benefit to the Agency or licensees; and

• Whether the service would result in additional cost to the Agency.

DO NOT INCLUDE COSTS in the Technical Proposal.

SECTION 6 EVALUATION AND SELECTION

6.1. Introduction

This Section describes the evaluation process that will be used to determine which Proposal(s) provides the greatest value to the State. Agency will not necessarily award the Contract to the Respondent offering the lowest cost to the Agency. Instead, the Agency will award to the Respondent whose Responsive Proposal the Agency believes will provide the best value to the State.

6.2. Evaluation Committee

The Agency will use an evaluation committee to conduct a comprehensive, fair, and impartial evaluation of Technical Proposals received in response to this RFP. The evaluation committee will recommend an award based on the results of their evaluation to the Agency or to another person or entity that must approve the recommendation.

6.3. Technical Proposal Evaluation and Scoring

All Technical Proposals will be evaluated to determine if they comply with the Mandatory Specifications. The evaluation committee will fully evaluate and score all Responsive Proposals submitted by Responsible Respondents in accordance with this Section. In addition to other RFP requirements, to be deemed a Responsive Proposal, the Technical Proposal must:

• Answer “Yes” to all parts of Section 5 and include supportive materials as required to demonstrate the Respondent will be able to comply with the Mandatory Specifications in that section and

• Obtain the minimum score for the Technical Proposal. If a Technical Proposal does not meet the minimum score, it will be rejected and the Respondent’s Cost Proposal will not be evaluated.

Technical Proposals will be evaluated based on the following criteria:

ROUND 1 RFP Section Mandatory Specifications Section 5 Pass/Fail ROUND 2* RFP Section Possible Points Background and Experience Exhibits 4, 5 200 Financial Stability Exhibit 6 100 Technical Approach & Service Delivery 5.2.1. 150 Coverage Requirements 5.2.2. 50 Program Administration 5.