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ESTATE-2372 - USA (Sacramento, California) - Casualty, Financial, Executive and Cyber Insurance Broker Services - Deadline July 12,2019

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: ESTATE-2372

Government authority located in Sacramento, California; USA based organization looking for expert vendor for casualty, financial, executive and cyber insurance broker services.

[A] Budget: Looking for Proposals

[B] Scope of Service:

(1) Vendor needs to provide casualty, financial, executive and cyber insurance broker services to the government authority located in Sacramento, CA.
- Broking and Consulting: - Provide analysis, recommendations and development of the most cost-effective and beneficial designs, strategy, negotiation, and placements of insurance, contract reviews and risk evaluations to meet SMUD needs. Prepare all marketing specifications for review and approval, submit to appropriate markets, present a written overview of all markets contacted and each of their responses (at least five working days before policy expiration), and negotiate final terms, as directed by staff. Attend meetings at offices of as reasonably needed, at offices of broker as needed, and at domestic and foreign underwriters’ offices as reasonably required.
- Policy Review and Issuance, Penalty for Late Issuance: - Review all insurance policy contracts for completeness and accuracy against specifications and negotiated coverages, and provide written certification of completeness and accuracy. Provide coverage binders by no later than 5 PM Sacramento time on the last business day before each renewal date. Provide to all original domestic policies.
- Manu scripting: - Draft manuscript policy language required for specialty or other non-standard coverages, based on instructions to obtain protection regards as optimum with respect to breadth and depth of coverage and cost considerations.
- Stewardship Report and Insurance Summary, Late Penalty: - Failure to provide a complete and accurate Stewardship Report and Annual Insurance Summary by May 1 of each year shall result in a 3% reduction in annual fee otherwise payable to broker in the Contract Year in which the report and summary are due.
- Claim Negotiation: - Assist in claim negotiations with insurers, adjusters and with representatives, including development of negotiation strategy, research, actuarial accounting, data accumulation and presentation to insurers, requests to SMUD departments for data and information.
- Run-Off Services - Provide all customary broker functions for “run off” services associated with insurance programs in existence and open claims at the start of this contract, including policy amendments, premium adjustments, underwriter relations and negotiations, certificate issuance, and assistance with claim negotiations.
- Market Status - Advise SMUD on all casualty, executive risk, cyber and related market conditions, capacity, claim trends, and utility risk management practices, as reasonably required.
(2) A pre-proposal conference will be held on June 24, 2019.

[C] Eligibility:

Onshore (USA Only)

[D] Work Performance:

Performance of the work will be Offsite. Vendor needs to carry work in their office location.

Expiry Date : Friday, 12 July, 2019

Pre-proposal Conference Date : Monday, 24 June, 2019

Category : Real Estate, Brokerage Services, Maintenance, Repair and Alteration of Property, Auditing, Finance and Accounting, Professional, Consulting, Administrative or Management Support Services

Country : USA

State : California

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