Request for Proposals for Insurance and Risk Management Brokerage Services for the Texas Prepaid Higher Education Tuition Board

The Office of the Texas Comptroller of Public Accounts is requesting proposals for insurance and risk management brokerage services on behalf of the Texas Prepaid Higher Education Tuition Board, with proposals due July 7, 2026 at 2:00 p.m. CT and oral presentations scheduled for August 18, 2026.

The successful respondent will serve as fiduciary broker for six plans and programs—the Texas Guaranteed Tuition Plan, LoneStar 529 Plan, Texas College Savings Plan, Texas Tuition Promise Fund, Texas Save and Match Program, and Texas Achieving a Better Life Experience Program—collectively managing $2.8 billion in assets and approximately 150,000 accounts. Scope includes coverage assessment, policy recommendations, selection assistance, claims support, and post-selection policy management. Respondents must demonstrate experience with public sector entities that issue municipal securities, particularly 529 plans, and provide evidence of financial stability through audited or compiled financial statements.

The current broker is Arthur J. Gallagher & Co., whose contract expires November 30, 2026. Current coverage includes $2 million aggregate limits for public officials liability and employment practices liability, each with $100,000 per-claim deductibles. The successful respondent must procure public officials' liability, employment practices liability, and privacy and security insurance coverage. The awardee must carry professional liability insurance of $5 million per occurrence and $5 million aggregate; commercial general liability of $3 million per occurrence and $5 million aggregate; employee dishonesty bonds of $25,000 per individual; and workers' compensation coverage.

The initial contract term runs September 1, 2026 through August 31, 2027, with three optional one-year renewal periods extending through August 31, 2030, plus a potential six-month transition period. Contract execution is anticipated for September 1, 2026. No specific funding amount is stated; compensation is contingent on available legislative appropriations. Respondents must submit fixed fees and commission caps for each coverage category, plus fees for risk management and claims handling services. Evaluation criteria weight qualifications and experience at 50 percent, past performance at 25 percent, and proposed costs at 25 percent. Written questions are due June 9, 2026 at 2:00 p.m. CT, with official responses posted by June 12, 2026.