RFI: parametric insurance policy

The South Carolina Office of Resilience, Department of Natural Resources, Department of Insurance, and Emergency Management Division jointly issued an RFI on parametric insurance policies as a potential disaster relief funding mechanism, with responses due August 21, 2026 at 5:00 p.m. ET. This is an information-gathering exercise for legislative briefing purposes only and carries no procurement intent, contract award authority, or respondent compensation.

The RFI seeks input from insurance providers and parametric insurance policy experts with state or regional experience. Respondents must provide estimated annual premium quotes for three policy limits ($50 million, $100 million, and $200 million) across five hazard categories: hurricane, flood, storm surge, earthquake, and drought. Each response must develop tiered percentage payout structures with defined triggers and measurement methodologies for each hazard, address handling of monitoring device malfunctions during events, and propose alternative parametric insurance structures if applicable.

Responses are limited to ten pages in PDF format with 12-point font and one-inch margins. All respondents bear submission costs. The information gathered will support a briefing memorandum to the South Carolina General Assembly during the January 2027 legislative session.

Respondents must clearly mark proprietary, confidential, or trade secret information under South Carolina Freedom of Information Law and submit two copies — one marked "confidential" with complete information and one marked "non-confidential" with sensitive data redacted. Unmarked information is subject to public disclosure, and the Working Group assumes no liability for improper marking. Questions are due August 7, 2026 at 12:00 p.m. ET. The primary contact is Brantly Tomlinson, Senior Consultant at SCOR, at (803) 767-9218 or brantly.tomlinson@scor.sc.gov.