Report on Economic Impact of a 1-in-100 Year Hurricane

The Florida Department of Financial Services (DFS) has issued a Request for Proposals (RFP) seeking a contractor to prepare a comprehensive report on the economic impact of a 1-in-100 year hurricane, as mandated by section 215.55952 of Florida Statutes. The project requires an actuarial analysis of data from multiple state entities to estimate short-term and long-term fiscal impacts on Citizens Property Insurance Corporation, the Florida Hurricane Catastrophe Fund, and the state's private insurance market. Deliverables include a draft report to be completed within 10 weeks of contract execution and a final report within 2 weeks of draft approval. The RFP will be evaluated on a 170-point scale, with 140 points allocated to the technical response and 30 points to pricing, with the contract to be awarded to the highest-scoring responsive and responsible vendor. Key deadlines include a January 24, 2025 deadline for question submissions, with proposals due by February 13, 2025, at 2:00 PM ET. The anticipated contract start date is March 3, 2025, with the contract terminating upon final report acceptance and no renewal options available.

The solicitation includes several preference and eligibility considerations for respondents, with opportunities for minority business enterprises, veteran business enterprises, and businesses with drug-free workplace programs to potentially receive tiebreaker advantages. Respondents must complete a comprehensive certification form verifying compliance with various statutory requirements, including not being on scrutinized companies lists, having Florida Department of State registration, and complying with E-Verify requirements. The RFP explicitly prohibits vendors from participating in boycotts of Israel and requires certification of no business operations in Cuba or Syria. While no specific budget range is provided, the contract will not reimburse travel or additional expenses, and pricing must be submitted as a fixed deliverable rate. The Department reserves the right to award multiple contracts by region or make no award at all, suggesting flexibility in the procurement approach. Vendors must also maintain appropriate insurance coverages and comply with data security requirements under section 501.171 of Florida Statutes, with financial penalties of $1,000 per business day for late deliveries.