Government Crime Insurance (ITB No. 24-84131514-ITB)

The Florida Department of Management Services is seeking a statewide government crime insurance contract through Invitation to Bid (ITB) No. 24-84131514-ITB. The procurement seeks an insurance broker to market and secure a comprehensive crime insurance policy covering multiple state agencies, universities, and governmental entities, with coverage effective January 1, 2025. The required insurance will provide protection against employee theft, forgery, inside and outside premises losses, computer fraud, and other crime-related financial risks, with specific coverage limits ranging from $500,000 to $52.9 million across 369 locations. Key requirements include selecting an insurer with an AM Best Key Financial Rating of at least A- and demonstrating 10 years of experience in placing similar insurance coverage. The solicitation timeline includes questions due by November 12, 2024 at 10:00 AM ET, bid submissions due by December 4, 2024 at 2:00 PM ET, a public bid opening on December 4, 2024 at 2:01 PM ET, and an anticipated Notice of Intent to Award posting on December 16, 2024. Evaluation will be based on the lowest total premium, including assessments and fees, as detailed on the mandatory Attachment B Price Sheet.

The solicitation does not explicitly indicate specific set-aside designations or restrictions for disadvantaged enterprises. The current incumbent is United States Fire Insurance Company, with an existing annual policy premium of $148,922. The contract allows for up to four consecutive policy periods from January 1, 2025, through January 1, 2029, with pricing requested for one to four consecutive periods. Notably, only one timely bid was received from Insurance Office of America, Inc., which prompted the Department to issue a Notice of Withdrawal and pursue negotiations under section 287.057(6) of Florida Statutes for an exceptional purchase. The contract will cover 48 program participants across various state agencies, departments, universities, and courts, with total insured daily deposit amounts of $22,649,413.54. Bidders must provide comprehensive documentation, including broker information, drug-free workplace certification, vendor certifications, and detailed pricing information across multiple coverage categories and policy periods.