CE 24-84131510-ITB Attachment B Price Sheet.xlsx
XLSX spreadsheet 30 KB Posted
- Attached to
- Contractor's Equipment Insurance
- Solicitation number
- ITB-08761
- Issued by
- Leon County, Florida
About this file
This document is an Attachment B Price Sheet for ITB No. 24-84131510-ITB for Contractor's Equipment Insurance, issued by the state of Florida. The Price Sheet provides instructions for brokers to submit accurate and complete pricing information for the required insurance coverage, including Contractor's Equipment, Mobile Command Units, and endorsed Equipment, based on the specified deductible levels and current market rates. Brokers are required to provide a rate per $100 of total insured value for each of the covered items and policy periods ranging from 7/1/24 to 7/1/28. The Premium Subtotal, assessments, fees, and Total Premium are automatically calculated on the Price Sheet.
The Price Sheet outlines the pricing terms, including the requirement to not include Terrorism Risk Insurance (TRIA) premium pricing, and the prohibition on imposing any fees not listed on the Price Sheet. The Discounted Premium and Calculated Premium are automatically calculated based on the most recent ten-year inflation rate from the Survey of Professional Forecasters. Brokers are instructed to submit the completed Price Sheet within the Sourcing application, and any conflicts between the Instructions Tab and the Price Sheet Tab will be resolved in favor of the Instructions Tab.
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Price Sheet Instructions
| ITB No. 24-84131510-ITB |
| Contractors Equipment Insurance |
| Attachment B |
| Price Sheet Instructions |
| 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 requested deductible level at current market rates. | ||
| 3. | The Price Sheets are locked and will move automatically to the areas highlighted in yellow where information is requested. | ||
| 4. | On each Price Sheet Brokers will provide a rate per $100 of total insured value (TIV) for each of the lines below based upon the deductibles shown on the Price Sheet: | ||
| a. | Contractors Equipment | ||
| b. | Mobile Command Units | ||
| 5. | The Premium Subtotal is the auto-calculated total of all Premiums for the coverage requirements identified on the Price Sheet for a Policy Period. | ||
| 6. | 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. | ||
| 7. | Brokers should not include Terrorism Risk Insurance (TRIA) premium pricing, as this coverage is not required on this policy. | ||
| 8. | 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. | ||
| 9. | 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. | |||
| 10. | The DP for a Policy Period is calculated using the following formulas: | ||
| DP for Policy Period 1 (PP1) = PP1 is not discounted. | |||
| DP for Policy Period 2 (PP2) = PP2/(1+R)^P1 | |||
| DP for Policy Period 3 (PP3) = PP3/(1+R)^P2 | |||
| DP for Policy Period 4 (PP4) = PP4/(1+R)^P3 | |||
| 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 | |||
| 2023 Q4 2.26 | |||
| 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, 2, 3 and 4, as submitted by the Bidder. | |||
| 11. | 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. | ||
| 12. | 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. | |||
| 13. | Upload this completed Microsoft Excel file within the Sourcing application. Do not convert the Price Sheet to a PDF or any other format. | ||
| 14. | 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 Price Sheet
| ITB No. 24-84131510-ITB |
| Contractors Equipment Insurance |
| Attachment B |
| Price Sheet |
Broker Name:
| Rates input on this Price Sheet must be rates associated with the following tiered deductible structure. | |
| · $ 1,000 deductible for items valued at $10,000 or less. |
tc={8F7E25B3-B31C-45DE-A6F1-153EE4B1BC7E}: [Threaded comment]
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Comment:
For scoring and premium purposes do we need them to include the deductible and take it into account. Or is the first number supposed to be a maximum deductible or something like that? Not really sure what we landed on in terms of deductible amounts.
Reply:
1st tier 1k deductible is for equipment value at 10K or less, then as the value of the equipment values, the deductible level increases incrementally. The RATE provide in this worksheet MUST represent the cost associated those requested deductibles.
| · $5,000 deductible for items valued at $10,001 - $100,000. |
| · $10,000 deductible for items valued at $100,001 - $250,000. |
| · $25,000 deductible for items valued greater than $250,000. |
| Period (P) → | 1 | 2 | 3 | |||||||
| The most recent ten-year inflation rate from the Survey of Professional Forecasters (R) → | 2.26% | 2.26% | 2.26% | |||||||
| # | Contractor's Equipment Type | TIV as of 1/8/2024 | Policy Period (PP) 1 7/1/24-7/1/25 | Policy Period (PP) 2 7/1/25-7/1/26 | Policy Period (PP) 3 7/1/26-7/1/27 | Policy Period (PP) 4 7/1/27-7/1/28 | ||||
| Rate per $100 of Insured Value | Annual Premium | Rate per $100 of Insured Value | Annual Premium | Rate per $100 of Insured Value | Annual Premium | Rate per $100 of Insured Value | Annual Premium | |||
| 1 | Contractor's Equipment | $ 11,487,526.60 | $ 0.10 | |||||||
| 2 | Mobile Command Units | $ 866,208.00 | $ 0.10 | |||||||
| 3 | Equipment as Endorsed (see policy) | $ 1,233,788.20 | . |
Premium Sub-Total → $ - 0 $ - 0 $ - 0 $ - 0
| ASSESSMENTS OR FEES | |||||||||||
| (as applicable) | Assessment (insert name of Assessment & Statute) | 0% | $ - 0 | 0% | $ - 0 | 0% | $ - 0 | 0% | $ - 0 | ||
| Assessment (insert name of Assessment & Statute) | 0% | $ - 0 | 0% | $ - 0 | 0% | $ - 0 | 0% | $ - 0 | |||
| Assessment (insert name of Assessment & Statute) | 0% | $ - 0 | 0% | $ - 0 | 0% | $ - 0 | 0% | $ - 0 | |||
| Policy Fee (if applicable) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||
| Inspection Fee (if applicable) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Fee (insert name of Fee) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Fee (insert name of Fee) | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
Total Premium (TP) → $ - 0 $ - 0 $ - 0 $ - 0
Discounted Premium (DP) → $ - 0 NO BID NO BID NO BID
Calculated Premium (CP) → $ - 0
File details come from the government source that posted it. Updated .