Insurance Broker of Record Services

The Missouri Department of Transportation (MoDOT) and the Missouri Highways and Transportation Commission (MHTC) are seeking qualified Insurance Brokerage firms to provide comprehensive insurance broker of record services through a Request for Proposal (RFP605CO21001787). The solicitation requires vendors to offer insurance market access, insurance marketing services, risk management consulting, loss prevention/safety consulting, and technical risk management services including actuarial analysis, risk finance evaluation, claims administration evaluation, and information systems evaluation. Specific deliverables include providing standard commission rates for insurance placement and firm, fixed hourly fees for various consulting services. The RFP requires electronic proposal submission via the MissouriBUYS website by May 11, 2021 at 2:00 pm CST, with an anticipated award notification date of May 29, 2021. The contract period runs from July 1, 2021 through June 30, 2024, with options for two additional one-year renewal periods. Proposals will be evaluated based on three key criteria: projected consulting costs (30 points), experience/expertise/reliability (45 points), and proposed method of performance (25 points).

The RFP encourages Minority Business Enterprise (MBE) and Women Business Enterprise (WBE) participation, specifically suggesting 10% MBE and 5% WBE involvement through subcontractors, suppliers, or joint ventures. The current incumbent broker is A.J. Gallagher Risk Management Services, Inc., who has held the contract for approximately 10 years. MoDOT currently maintains a self-insurance plan for workers' compensation, fleet vehicle liability, and general liability, with excess property insurance. The agency's existing insurance coverage includes commercial insurance for major buildings ($188,595 annual premium) and two aircraft ($7,047.25 annual premium), both currently placed with CHUBB. Vendors must maintain general liability insurance of $500,000 per person/$3,000,000 per occurrence, automobile liability insurance with the same coverage limits, and workers' compensation coverage in accordance with state law. While no specific total contract value is mentioned, the comprehensive nature of services and multi-year contract structure suggests a significant potential engagement for the selected insurance brokerage firm.