Ocean Marine Hull and PI, and Open Cargo Insurance

The Florida Department of Management Services is seeking a comprehensive Ocean Marine Hull and Open Cargo Insurance contract through Solicitation No. 25-64121511-ITB, with an anticipated contract start date of July 2, 2025. The procurement targets insurance coverage for multiple state agencies and universities, including Florida Atlantic University, Florida International University, Florida State University, University of Central Florida, University of Florida, and the Florida Fish and Wildlife Commission. The solicitation requires a multi-year State Term Contract that provides worldwide navigation limits, hull insurance, protection and indemnity coverage, and open cargo insurance for specialized research equipment and marine vessels. Bidders must submit a comprehensive package including a completed Price Sheet, an Insurer Quotation with an AM Best Rating of at least A, and various mandatory responsive requirements. Key bid submission deadlines include June 16, 2025, at 10:00 AM for bid submissions, with a public bid opening at 2:15 PM the same day, and an anticipated Notice of Intent to Award on June 23, 2025. Evaluation will focus on the responsive and responsible bidder submitting the lowest calculated premium, with specific requirements for broker qualifications, insurance coverage, and compliance with state procurement regulations.

Prospective bidders must meet several qualifying criteria, including having 10 years of experience in insurance placement and account management, possessing a valid certificate of authority to transact insurance, and completing various vendor certification forms such as the Drug-Free Workplace Certification and Provision of Commodities Produced by Forced Labor certification. The solicitation does not appear to have specific set-aside designations for disadvantaged enterprises, though vendors must comply with E-Verify requirements and various non-discrimination statutes. The existing contract, currently underwritten by Great American Insurance Company of New York, had an average annual premium of $299,287 for Ocean Marine Hull and Protection and Indemnity, and a four-year average of $12,833 for Open Cargo insurance. The state intends to make a single award but reserves the right to make no award if determined to be in the state's best interest. The contract will cover 81 vessels across various research, patrol, and specialized categories, with coverage periods spanning from July 2, 2025, to July 2, 2030, and premiums calculated using a discounted approach based on the most recent ten-year inflation rate.