Reinsurance Broker Services for Property & Related Coverages
Closed State & local contract opportunity Posted
- Solicitation number
- S-X24129-00010570
- State
- Oregon
- Responses due
Opportunity facts
- Jurisdiction
- NIGP codes
- UNSPSC codes
- 64121504 Commercial multiple peril policy
- 64122202 Group dental insurance policy
- 84131520 Insurance broking fees and commission
- 64121500 Property insurance contracts
- 64122100 Health insurance contracts
- 64122200 Dental insurance contracts
- 64121502 Boiler and machinery policy
- 64121507 Fraternal benefit society insurance policy
- 64121508 Homeowners insurance policy
- 64121509 Inland marine insurance policy
Show all 36
- 64121511 Ocean marine insurance policy
- 64121512 Surety policy
- 84131518 Bicycle insurance
- 64122300 Casualty insurance contracts
- 84131501 Building or building contents insurance
- 84131502 Homeowners or renters insurance
- 84131506 Reinsurance services
- 84131507 Business interruption insurance
- 84131508 Cash in transit insurance
- 84131509 Comprehensive projects insurance
- 84131515 Jewelers block insurance
- 84131900 Insurance services for casualty lines
- 64122102 Group health insurance policy
- 64122201 Individual dental insurance policy
- 64122101 Individual health insurance policy
- 81162310 Procurement process as a service
- 64120000 Insurable interest contracts
- 64122007 Modified guaranteed annuity policy
- 64122006 Fixed annuity policy
- 64121514 Warranty policy
- 64121505 Farm owners multiple peril policy
- 84131513 Erection all risks insurance
- 84131905 Employment practice liability insurance services
- 84131500 Insurance services for structures and property and possessions
- 84131512 Electronic equipment insurance
- 84131504 Cargo insurance
- Point of contact
-
- Trent McGath tmcgath@cisoregon.org (503) 763-3800
Opportunity details come from oregonbuys.gov. Updated .
About this opportunity
The Cities Insurance Association of Oregon (CIS) has issued a Request for Proposals (RFP) for reinsurance brokerage services focused on property, crime, and equipment breakdown coverages, targeting public entities in Oregon, specifically Clackamas County. The primary objective is to secure a qualified vendor to provide comprehensive consulting and brokerage services, with an emphasis on market analysis and potential coverage expansion, including cyber insurance. Proposers must submit a detailed fee schedule that may incorporate commissions and flat fees, and demonstrate expertise in navigating complex reinsurance landscapes. Key procurement dates include a proposal submission deadline of June 26, 2024, with anticipated contract award on August 16, 2024, and contract commencement in October 2024. The initial contract term is five years, and evaluation criteria will likely include the proposer's experience, fee structure transparency, market access, and ability to optimize CIS's current reinsurance programs. Proposers are expected to review CIS's existing coverage agreements, which include property reinsurance with loss events ranging from $1 million to $4.8 million, and demonstrate capabilities in structuring comprehensive risk management solutions.
The RFP does not specify explicit set-aside designations or restrictions on respondent types, indicating an open competitive procurement process. CIS currently participates in a medical stop-loss captive with other public entity pools but does not maintain a captive for property/casualty coverages. While the RFP does not disclose a specific budget range, it suggests flexibility in commission and fee arrangements, with an expectation of full financial disclosure from potential brokers. The organization has expressed interest in increasing property limits, particularly for earthquake coverage, which could signal potential significant investment in reinsurance services. The procurement appears focused on finding a broker who can provide strategic guidance, market insights, and effective risk transfer mechanisms for public entity insurance needs. Although an incumbent vendor is not explicitly mentioned, the RFP indicates CIS is seeking to optimize its current reinsurance program structure, suggesting potential opportunities for innovative approaches to risk management.
Opportunity text
The purpose of this Request for Proposals (RFP) is to solicit offers from qualified vendors for reinsurance brokerage services.
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