Electronic Data Processing Equipment Insurance

The Florida Department of Management Services is issuing an Invitation to Bid (ITB) No. 25-84131512 for a multi-year Electronic Data Processing Equipment Insurance contract to replace the current policy, with an anticipated contract start date of June 5, 2025. The solicitation seeks a broker to market and secure an insurance policy providing comprehensive coverage for electronic data processing and scientific/medical equipment owned or leased by multiple state agencies, universities, and legislative offices throughout Florida. The total insured value for the policy is $378,793,546.61, with current policy rates of $0.04 per $100 of value for owned equipment and $0.360343 per $100 for leased equipment. Key requirements include selecting an insurer with an AM Best Key Financial Rating of at least A, providing a quotation document, AM Best rating information, and specimen policy forms. The procurement timeline includes questions due by April 17, 2025, with bids due by May 7, 2025, at 2:00 PM Eastern Time, followed by a public bid opening at 2:15 PM. The historical five-year average annual premium is $203,132, though this does not guarantee future spending, and the department intends to make a single award but reserves the right to make no award if determined to be in the best interest of the state.

Eligible users are limited to non-Agency state entities with a Department of Financial Services State Risk Management Trust Fund Certificate. Bidders must meet several mandatory responsive requirements, including possessing a valid certificate of authority to transact insurance, having 10 years of experience in insurance placement and account management, and maintaining current insurance licenses. The solicitation includes provisions for drug-free workplace certification and requires vendors to certify compliance with various state statutory requirements, including non-participation in boycotts and adherence to E-Verify requirements. Vendors must also provide documentation regarding commodities produced by forced labor and complete a detailed Vendor Certification Form. The current policy is administered through Federal Insurance Company, with claims managed by ONE80 Intermediaries Inc., and historical loss reports indicate 98 claims over a 10-year period totaling $267,685. The contract will be for a one-year term with potential options for additional policy periods if pricing was provided in the original bid, and bidders must submit a commission-based pricing proposal with annual premiums to be fixed for the full policy period.