22-64121500-ITB 22-23 DEP WW Property ITB Attachment B Price Sheet Finall.xlsx
XLSX spreadsheet 29 KB Posted
- Solicitation number
- ITB-02398
- Issued by
- Hernando County, Florida
About this file
This document is the Price Sheet instructions and Attachment B for ITB No. 22-64121500-ITB, a commercial property insurance solicitation on behalf of the Florida Department of Environmental Protection. The solicitation requests annual commercial property insurance coverage for the Weeki Wachee Mermaid Theater Complex for two policy periods: 11/1/2022-11/1/2023 and 11/1/2023-11/1/2024. Brokers must download the Price Sheet, review the instructions, and provide accurate premium quotes. Pricing must be based on the coverage outlined in the ITB and current market rates. Brokers must identify any assessments, fees, or other charges, though terrorism risk insurance is not required. The Discounted Premium and Calculated Premium will be used for scoring purposes but will not be part of the awarded contract.
The Price Sheet includes sections for the Annual Premium, Premium Subtotal, and Total Annual Premium Including Assessments and Fees for each policy period. Brokers may not alter the Price Sheet or include any fees not listed. The most recent 10-year inflation rate from the Survey of Professional Forecasters, currently 2.80%, will be used to calculate the Discounted Premium for the second policy period. The Calculated Premium is the average of the Discounted Premiums for the two policy periods.
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INSTRUCTIONS
| ITB No. 22-64121500-ITB |
| Commercial Property Insurance |
| on behalf of the |
| Department of Environmental Protection |
| Attachment B |
| Price Sheet |
| 1 | Brokers will download the Microsoft® Excel file Attachment B, Price Sheet. Review and follow these instructions and the general information as provided in the Price Sheet. |
| 2 | Brokers are required to supply accurate and complete information. Pricing must be based upon the coverage outlined in the ITB and current market rates. |
| 3 | The Price Sheet is locked and will move automatically to the areas highlighted in yellow where information is requested. |
| 4 | The input of Premiums and assessments and/or fees by a Bidder for Policy Periods 1, and 2 must be as described in these instructions |
| 5 | For each Policy Period bid, Brokers will provide an Annual Premium for Commercial Property Insurance. |
| 6 | The Premium Subtotal is the auto-calculated total of all Premiums for the coverage requirements identified on the Price Sheet for a Policy Period. |
| 7 | If there are any assessments or fees associated with the proposed Insurance Policy, they must be identified as follows: |
| a. If any statutorily required and authorized assessments are to be included, identify the name of that assessment, and its applicable percentage of the premium subtotal associated with the applicable Policy Period. The Price Sheet will auto-calculate the associated cost for the assessment for that Policy Period. | |
| b. Any other fee shall be identified by name; and Broker will input the total annual cost of that fee for the Policy Period quoted. | |
| c. For an inspection fee, if applicable, a Broker must input the associated total annual cost for the Policy Period quoted. | |
| d. In accordance with subsection 626.932(4), Florida Statutes, surplus lines tax fees shall not be assessed. | |
| 8 | Brokers should not include Terrorism Risk Insurance (TRIA) premium pricing, as this coverage is not required on this policy. |
| 9 | The Total Premium (TP) is the auto-calculated total of the Premium Subtotal for a Policy Period, plus any amounts for assessments and/or fees bid for that Policy Period. |
| 10 | The price sheet automatically calculates the Discounted Premium (DP) and Calculated Premium (CP) are automatically calculated on the Price Sheet based on information input by a Bidder. The DP and CP are for scoring of the Bidder’s Price Sheet only and will not become part of any resulting awarded Contract. |
| 11 | The DP for a Policy Period is calculated using the following formulas: |
| DP for Policy Period 1 (PP1) = TP for PP1 | |
| DP for Policy Period 2 (PP2) = TP for PP2 ÷ (1 + R) |
| Where: | |
| R = The most recent ten-year inflation rate from the most recent Survey of Professional Forecasters. Percentages are expressed as decimals for calculation purposes | |
| https://www.philadelphiafed.org/research-and-data/real-time-center/survey-of-professional-forecasters/historical-data/inflation-forecasts | |
| 2022 Q2 2.80% | |
| To calculate the CP for a Bid for Policy Period 1 only, the CP is equal to the DP. | |
| To calculate the CP for a Bid for multiple Policy Periods, the CP is the AVERAGE of the DP’s for Policy Periods 1 and 2, as submitted by the Bidder. | |
| 12 | The selected Broker will not be allowed to impose any fee not listed in the Price Sheet for a Policy Period, unless required by statute. |
| 13 | Other than providing the requested quotation information within the Price Sheet, the responding Broker may not alter the information, specifications, or contents of the Price Sheet, as created by the Department. Any such alteration of the Price Sheet specifications or contents may result in the Brokers's quotation not being considered. Brokers are reminded that only one Price Sheet should be submitted with the quotation. |
| 14 | Upload this completed Microsoft Excel file within the MFMP Sourcing application. Do not convert the Price Sheet to a PDF or any other format. |
| 15 | If there is a conflict between this Instructions Tab and the Price Sheet Tab, then the Instructions Tab will control. |
https://www.philadelphiafed.org/research-and-data/real-time-center/survey-of-professional-forecasters/historical-data/inflation-forecasts DEP Commercial Property
| ITB No. 22-64121500-ITB |
| Commercial Property Insurance |
| on behalf of the |
| Department of Environmental Protection |
| Attachment B |
| Price Sheet |
BROKER NAME:
| The most recent ten-year inflation rate from the Survey of Professional Forecasters (R) → | 2.80% | ||
| Policy Period (PP) → | Policy Period 1 | Policy Period 2 | |
| Requested Coverage | 11/1/2022- 11/1/2023 | 11/1/2023- 11/1/2024 | |
| Annual Premium | Annual Premium | ||
| Commercial Property Insurance for DEP Weeki Wachee Mermaid Theater Complex | $ - 0 | $ - 0 | |
| Premium Sub-Total | $ - 0 | $ - 0 |
| % of Annual Premium | Annual Charge | % of Annual Premium | Annual Charge | ||
| ASSESSMENTS OR FEES (as applicable) | Assessment (insert name of Assessment & Statute) | 0.00% | $ - 0 | 0.00% | $ - 0 |
| Assessment (insert name of Assessment & Statute) | 0.00% | $ - 0 | 0.00% | $ - 0 | |
| Assessment (insert name of Assessment & Statute) | 0.00% | $ - 0 | 0.00% | $ - 0 | |
| Policy Fee (if applicable) | $ - 0 | $ - 0 | |||
| Inspection Fee (if applicable) | $ - 0 | $ - 0 | |||
| Fees (insert name of Fee) | $ - 0 | $ - 0 | |||
| Fees (insert name of Fee) | $ - 0 | $ - 0 |
Total Annual Premium Including Assessments and Fees ® $ - 0 $ - 0
Total Premium (TP) ® $ - 0 $ - 0
Discounted Premium (DP) ® $ - 0 NO BID
Calculated Premium (CP) ® $ - 0
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