Equipment Breakdown Insurance

The Florida Department of Management Services (the Department) is issuing an Invitation to Bid (ITB) to establish a multi-year contract for equipment breakdown insurance to replace the Department's current policy. The contract will provide coverage for various state agencies, universities, and other eligible entities located across Florida, including Florida Atlantic University, University of North Florida, University of West Florida, Florida State University, University of Florida, and the UF Scripps Facility. The required coverage includes equipment breakdown, perishable goods/spoilage, and extra expense. Bidders must provide accurate pricing on the provided attachment, including annual rates per $1,000 of insured value. The Department intends to make a single award to the lowest responsive and responsible bidder, but reserves the right to make no award. The ITB has a due date of September 2, 2024, and the initial contract term is anticipated to begin on October 1, 2024.

The solicitation does not specify any set-aside designations or restrictions on the types of organizations that can respond. The Department has not identified any incumbent vendors or contractors for the current equipment breakdown insurance policy. While the total insured value is approximately $18.9 billion, the ITB does not provide an estimated award value or budget range. The Department reserves the right to request additions or deletions to the coverage during the contract term.