Insurance Review, Tracking & Management Reissue RFP

The Illinois Housing Development Authority (IHDA) is issuing a Request for Proposal (RFP) for Insurance Review, Tracking & Management services for its multifamily loan portfolio, with the solicitation identified as 26-551HDA-MULFM-B-50845. The procurement seeks a qualified vendor to review certificates of insurance and ensure compliance with current industry standards for developers receiving IHDA financing for multifamily housing construction and renovation projects. Key deliverables include reviewing and approving insurance certificates during three distinct service phases: initial closing (approximately 80 projects annually), renewal tracking during construction periods (approximately 20 projects), and final closing reviews (approximately 40 projects annually). The vendor must maintain a comprehensive database system accessible to IHDA staff, generate delinquent reports in 30-day increments, facilitate ongoing communication between vendors and developers, and manage five types of insurance certificates at initial close and three at final close. Required qualifications include demonstrated commercial insurance review experience, maintenance of a functional database system for tracking insurance certificates, and employment of at least three full-time staff members or provision of equivalent technology automation. Evaluation criteria allocate 10 points for technical requirements, 2 points for commitment to diversity (comprising 20% of technical points), and 40 points for pricing, for a maximum of 52 available points. Critical dates include a pre-submission conference on February 5, 2026, at 2:00 P.M. CST via Microsoft Teams; vendor questions due by February 10, 2026; proposal submission deadline of March 2, 2026; board selection and approval by March 20, 2026; and anticipated contract start date of April 1, 2026. The initial contract term is one year with renewal options of three years each for up to three renewal periods, permitting a maximum total contract term of ten years.

The procurement includes an 8% Business Enterprise Program (BEP) participation goal for minority, women, and persons with disabilities businesses, with a mandatory $15 Minority Contractor Opportunity Initiative fee required for contracts of $1,000 or more. Vendors must submit a completed U-Plan (Business Enterprise Program Utilization Plan) and a Commitment to Diversity form demonstrating commitment to diversity and inclusion across multiple categories including subcontracting with women-, minority-, and disability-owned businesses, diversity spending and time commitments, diversity policies, and diversity in staffing composition. All required vendor disclosures, including the Vendor Disclosure form for either IPG-registered or non-registered vendors, must be completed and submitted with proposal responses, along with the standard RFP Offer form, commitment to diversity vendor answer form, and U-Plan documentation. Pricing must be firm and submitted through the BidBuy platform's Items Tab with no allowable expenses, and taxes are excluded unless the State is subject to taxation. The contract pricing structure is based on fixed billing rates for certificate review and approval services across three service phases, with estimated annual volumes of approximately 80 initial closing projects and 50 percent renewal and final closing volumes. While no incumbent vendor or existing contract values are specifically identified in the documentation, IHDA currently manages insurance review manually through one staff member via email, with capacity constraints serving as the primary rationale for outsourcing this function.