Sources Sought - Fiduciary Liability Insurance

This Sources Sought Notice is being issued for the purposes of:

(1) Conducting market research to determine common and customary industry practices.

(2) Assisting the Office of the Comptroller of the Currency (OCC) to determine the number of potential respondents capable and interested in providing fiduciary liability insurance, consulting services, and training sessions to and for the OCC and the Office of Thrift Supervision (OTS) 401(K) Retirement Plans. 

(3) Determining industry capabilities and best practices, including those of small businesses, to meet OCC’s need for fiduciary insurance, insurance consultation, insurance training.  A draft statement of work  is attached.

(4) Providing a price model to help OCC establish lifecycle costs for a one to two (2) year contract.

If businesses are interested, please provide responses to address the statements outlined in the Submission Requirements. 

Submission Requirements

In order to be considered an Interested Vendor/Party, a response is required for the below statements:

1. 1. Provide confirmation your firm is capable of meeting all of tasks listed in the attached draft Statement of Work.
   2. Explain if any exceptions for tasks listed would be needed.
   3. List any of your firm’s relevant industry certifications, licenses and accolades related to the tasks outlined in the draft Statement of Work.
   4. List reputable insurance carriers you’ve partnered with to provide fiduciary liability insurance coverage.
   5. List 3 clients similar in size, scope and complexity to the OCC plans and coverage requested, provide a high-level description of the contract services and provide references.
   6. Provide a rough order of magnitude (cost estimate) for the OCC minimum coverage amount.
   7. State your firm’s capability to provide renewal (option year) pricing and how many option years (if capable).
   8. Provide any other recommendations/requirements to strengthen and foster competition

Responses shall be in single-spaced, Times New Roman, 12 point font format, with one inch margins all around, compatible with MS Office Word. All response documents, including attachments, shall not exceed 5 MB, and shall be printable on 8 ½” x 11” paper.  Total response submission shall be no longer than five (5) pages, including any attachments, (e.g., pamphlets, workflows).  Respondents shall avoid the use of excessive marketing language, submission of fancy brochures, and other unnecessary sales literature. 

Capability Statement should include:

1. Company Profile Information -
   1. Company name and physical address,
   2. SAM Unique Entity ID and/or CAGE Code,
   3. GSA Federal Supply Schedule (FSS) contract(s) number/ID (if applicable),
   4. Government-wide Acquisition Contracts (GWACs) contract number/ID (if applicable), and
   5. Designated point of contact's name, title, email address, and phone number

1. 2. Company's Business Information –
   1. Size status,
   2. Socioeconomic status,
   3. Website URL

Please send responses to: Karen.Green@occ.treas.gov via email as courier delivery will not be accepted. The email subject line shall include the following: “Sources Sought Notice Response to 2031JW25S00001.  Response deadline: March 14, 2025 NLT 5:00 PM Eastern Time, however the government may review responses issued beyond the deadline.

DISCLAIMER AND IMPORTANT NOTES: This notice does not obligate the Government to award a contract or otherwise pay for the information provided in this response. The Government reserves the right to use information provided by respondents for any purpose deemed necessary and legally appropriate. Any organization responding to this notice should ensure that its response is complete and sufficiently detailed to allow the Government to determine the organization’s qualifications to perform the work. Respondents are advised that the Government is under no obligation to acknowledge receipt of the information received or provide feedback to respondents with respect to any information submitted. response to this notice will not be returned, and any proprietary information contained within responses shall be clearly marked as ‘Proprietary’. All submissions in response to this notice shall become the property of the Government. After a review of the responses received, a solicitation may be published on System For Awards Management – SAM.gov or the GSA Federal Supply Schedule, if applicable. Additionally, responses to this notice will not be considered adequate responses to a solicitation.