VendorChangeDetailsReport_RFP26006446_v1_Apr_8_26.pdf

This is a Solicitation Change Details Report for RFP26006446 issued by the State of Rhode Island Department of Administration's Office of Risk Management, which is seeking a commission-based insurance broker to serve as the State's primary insurance provider. The procurement encompasses comprehensive risk financing and advisory services for State assets valued at over $4.5 billion across multiple insurance lines, including Master Property Policy (35.5% of portfolio), Railroad insurance (29.8%), Excess Auto Liability (4.0%), and Medical Malpractice (3.21%). Required services include risk analysis, insurance placement, claims management support, policy renewals, catastrophic modeling, competitive market solicitation, and quarterly claims reviews. Technical proposals are limited to six pages and must include staff qualifications, vendor capability with minimum three client references, and detailed work plans. The question and answer period runs from March 23, 2026 at 9:15 AM through April 3, 2026 at 2:00 PM EDT, with proposals due electronically through Ocean State Procures no later than April 20, 2026 at 10:00 AM EDT. The initial contract period commences approximately July 1, 2026 for one year, with options to renew for up to four additional 12-month periods based on vendor performance and fund availability. This change report indicates that Addendum #1 containing Q&A Center Items has been added to the solicitation as of April 8, 2026.

The contract is structured entirely on a commission basis with vendors proposing capped commission rates for each insurance category, with no reimbursement of travel, lodging, meals, or ancillary expenses. Evaluation awards up to 50 points for technical proposals (40-point minimum to advance), 20 points for interview/demonstration (combined 56-point minimum to advance to cost evaluation), 30 points for cost proposals, and 6 bonus points for ISBE participation, totaling 106 possible points. All vendors must register with Ocean State Procures, complete a Vendor Certification Questionnaire and Supplemental Bidder Attestation Form, carry specified insurance coverage including $1,000,000 general liability, $2,000,000 professional liability, and $5,000,000 cyber/privacy insurance per occurrence, and comply with the State's General Conditions of Purchase. A contract administrative fee of 0.33% of annual contract spend will be withheld from vendor invoices effective January 1, 2026. An ISBE participation plan is required demonstrating commitment to minority, women, and disability business enterprise utilization, with MBE/WBE subcontractors requiring certification by the Division of Equity, Diversity & Inclusion MBE Compliance Office or the Governor's Commission on Disabilities at bid submission.