VendorNet Contract Attachment.docx
DOCX document 20 KB Posted
- Attached to
- Insurance Broker of Record – UWS Student Health and Security, Study Abroad, and Other Student Benefits
- Contract number
- 505CAP-M20-AD200803-01
- Issued by
- Wisconsin
About this file
This document is a contract attachment from VendorNet detailing compensation terms for student health insurance and risk management services. The agreement appears to be between a contractor and a University, referencing RFP # AD200803 for student health and study abroad coverage placement services.
The contract covers multiple insurance programs with varying commission structures. For the Student Study Abroad Program, the contractor receives $1.00 per student per month of premium with an annual maximum of $16,500 per contract year. Study abroad participants (excluding domestic study away and dependents) are automatically enrolled in Personal Liability/Personal Effects coverage. The International Student Health Insurance Program provides a 3.0% commission on premium instead of flat fees. Additional student benefit coverages are compensated at a negotiated rate not exceeding 3% commission. General special projects and activities outside the original RFP scope are billed at $150.00 per hour. All fees and commissions may be paid by the University, individual agencies, or insurance markets following standard commission payment processes, with the Department retaining rights to negotiate all compensation terms for requested services or placements.
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Text version
II. TIME, COST AND ADMINISTRATION
The cost for the placement of Student Health and Study Abroad coverage, and providing related risk management services as needed with an emphasis on being a resource of knowledge and expertise and servicing special related projects and activities not identified in RFP # AD200803 is as follows:
A. Student Study Abroad Program Contractor shall receive a commission of $1.00 per student per month of premium with a maximum allowable commission of $16,500 per contract year.
B. Personal Liability/Personal Effects Policy Each study abroad insured (except for domestic study away participants and dependents) is also enrolled in a Personal Liability/Personal Effects Policy.
C. International Student Health Insurance Program Contractor shall receive a 3.0% commission of premium in lieu of flat premium.
D. Additional Coverages Compensation for other student benefit placements that may be required by the University will be negotiated prior to the assignment of work with a not-to-exceed commission of 3%.
E. General Special Projects/Activities Compensation for any general special projects/activities outside the scope of the RFP shall be invoiced at $150.00 hourly rate.
F. Fees and Commissions All fees/commissions for other services and/or insurance placements shall be paid by the University or shall be paid by individual agencies at the time of placement or when services are delivered, or shall be paid by the applicable insurance markets in conformance with customary commission payment processes. The Department reserves the right to negotiate all fees and commissions for services or insurance placements requested.
File details come from the government source that posted it. Updated .