Broker of Record for Bridge, Property, Terrorism, and Business Interruption Insurance Coverages

The Florida Department of Transportation, Florida's Turnpike Enterprise, is seeking a Broker of Record to manage insurance coverages and consulting services for multiple transportation-related entities, including the Mid-Bay Bridge Authority, Greater Miami Expressway Agency, Orchard Pond Greenway LLC, Escambia County, and the State of Florida Department of Transportation. The procurement involves comprehensive insurance placement and management for a substantial infrastructure portfolio encompassing 1,033 bridges, 681 buildings, 221 trusses and gantries, and 279 ITS signs, with a Total Insured Value of approximately $8.7 billion. Proposers must be authorized to conduct business in Florida, hold valid Florida insurance licenses, and demonstrate at least five years of experience providing similar services to public entities. Key personnel requirements include a Lead Account Manager with fifteen years of experience and professional accreditations, a Contract Manager with ten years of experience, a Risk Control and Prevention Manager, and a Claims Manager. The proposal submission deadline is January 13, 2026, at 2:30 p.m. EST, with a public opening at 3:00 p.m. EST, and the intended award posting date is February 3, 2026.

The initial contract term is five years, commencing in February 2026, with potential renewal options for up to five additional years based on performance evaluations. The Broker Fee will be paid by insurers and capped at the commission percentage specified in the proposer's cost proposal, which will apply throughout the initial term and any renewals. The Department estimates average annual spending of approximately $8.3 million, though this is informational and does not guarantee minimum purchases. Proposers must register in MyFloridaMarketPlace by the public opening date and submit a completed W-9 form to the Florida Department of Financial Services. Financial consequences are specified for non-compliance with various performance standards, including coverage binding failures, documentation delays, and communication response times. No specific set-aside designations or restrictions for disadvantaged enterprises are mentioned in the provided documentation, and no information about incumbent vendors is included in the procurement details.