Solicitation Objective.docx

The document is a Solicitation Objective for an Invitation to Bid (ITB No. 25-64121509-ITB) issued by the Florida Department of Management Services for a multi-year Miscellaneous Property Insurance State Term Contract. The solicitation seeks to replace the current policy effective August 8, 2025, covering comprehensive property insurance for various state agencies and universities, including the Department of Agriculture and Consumer Services, Department of Environmental Protection, and multiple state universities. The insurance will cover equipment such as band instruments, mobile gas testing equipment, nuclear radiation detection systems, radio and television equipment, with total insured values of approximately $26.5 million. The bid submission deadline is July 8, 2025, at 10:00 AM Eastern Time, with questions due by June 18, 2025. The Department intends to make a single award but reserves the right to make no award if deemed in the state's best interest, with a potential contract period of five consecutive policy years from August 8, 2025, to August 8, 2030.

The solicitation requires bidders to have valid insurance licenses, demonstrate 10 years of experience in insurance placement, and possess an AM Best Key Financial Rating of at least A. The historical annual premium for the previous contract averaged $63,310, though this is not a guaranteed spend amount. Bidders must submit commission-based proposals with fixed annual premiums, and the contract includes specific deductible structures, such as $2,500 for earthquakes and $500,000 for water damage in certain flood zones. Eligible users are limited to non-Agency state entities with a Department of Financial Services State Risk Management Trust Fund Certificate. The contract allows for potential additions or deletions to coverage throughout the policy period, with brokers required to provide comprehensive customer service and claims settlement support. Bidders must also comply with vendor certifications regarding scrutinized companies lists and forced labor prohibitions.