Insurance Brokerage Request for Proposals

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Insurance Brokerage
RFP Release Date: 4/08/2026
Bidder Questions Due: 4/17/2026
Request for Proposal
Answers Posted: 4/22/2026
Proposals Due: 5/06/2026
Summary
Vermont Energy Investment Corporation (VEIC) is a mission-driven, non-profit leader in the design and delivery of
decarbonization programs and services for residents, businesses, and industrial customers across the United
States. VEIC is seeking proposals from qualified, licensed insurance brokerage firms to provide a full range of
commercial insurance and risk management advisory services, as described below, and in further detail in the
Scope of Work. VEIC intends to select a single firm to serve as its Insurance Broker of Record.
A summary of VEIC's current insurance program (Appendix A) is available upon request. Bidders may request
Appendix A in accordance with the instructions set forth in this RFP.
Brief description of services:
* Assist VEIC in identifying and analyzing its loss exposures on an ongoing basis.
* Assist VEIC in procuring insurance policies and/or renewing existing insurance policies
to meet its extensive contractual requirements.
* Provide VEIC with an insurance coverage summaries detailing its policies, terms, carriers,
premiums, deductibles, and any other pertinent information.
* Assist VEIC with routine insurance audits to ensure a successful outcome.
* Assist VEIC with filing and handling claims that may arise.
* Review minimum insurance requirements for new business and contractual
engagements and obtain additional coverage, endorsements, or limits as needed.
* Provide ongoing support and counsel regarding VEIC's insurance needs and
operations, including producing certificates of insurance, answering insurance
coverage questions, and advising on emerging risks in the market.
* Provide both off-the-shelf and customized training for internal stakeholders, tailored to
VEIC's operations, risk profile, and contractual environment; leadership-level training
should deliver strategic, data-driven guidance on insurance placement, risk
management, and emerging risks, while staff-level training should be practical,
accessible, and plain-language, covering topics such as certificate of insurance
compliance and contractual insurance requirements.
* Provide any other services customarily provided by a full-service commercial insurance brokerage
firm.
Responses to this Request for Proposals (RFP) must be delivered electronically to VEIC by 5 p.m. EDT on
Wednesday, May 6, 2026. VEIC will not accept proposals submitted after 5 p.m. EDT. Please submit your
proposal electronically via e-mail to: legal@veic.org with "RFP Proposal for Commercial Insurance
Brokerage Firm" in the subject line.

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VEIC will respond to individual questions regarding this RFP only as follows: VEIC will receive questions
regarding requirements and scope of work up to 5 p.m. EDT Friday, April 17, 2026, via e-mail only, to:
legal@veic.org with "Insurance Brokerage Firm Question" in the subject line. When appropriate, please
refer to the RFP page number and Section Heading for ease of navigation and response. VEIC will post
answers on the VEIC website no later than Wednesday, April 22, 2026. VEIC will not address questions
submitted after April 17, 2026. Requests for Appendix A (Summary of VEIC's Current Insurance Program)
must be submitted no later than 5 p.m. EDT Friday, May 1, 2026.
Background
VEIC is a mission-driven, nonprofit organization dedicated to reducing the economic and
environmental costs of energy use. It carries out its mission, in part, by design and delivery of
decarbonization programs and services for residents, businesses, and industrial customers. Founded in
1986, VEIC is nationally and internationally recognized for advancing energy efficiency, energy conservation,
and renewable energy programs and projects across the United States. VEIC employs over 400
professionals across 25 U.S. states, with one employee overseas. It is headquartered in Winooski, VT,
and has an office in Washington, DC. As a fast-growing nonprofit, VEIC continues to expand its programs
and has the potential to increase its revenue, staffing, and physical presence in additional locations. For
additional information, please see the VEIC Website: www.VEIC.org
Scope of Work, Schedule, and Contract
RFP and Implementation Schedule
Table 1. VEIC will attempt to adhere to the following schedule but reserves the right to adjust the schedule
below as needed.
RFP release 4/08/2026
Bidders Questions Due 4/17/2026
Answers posted 4/22/2026
Proposals due 5/06/2026
Bidder selected 5/13/2026
VEIC reserves the right, at its sole discretion, to determine whether interviews will be conducted following
receipt and evaluation of proposals, and to invite some or all bidders to participate.
Scope of Work
The primary goals and objectives of this RFP are to:
* Retain a licensed commercial insurance brokerage firm to act as VEIC's Broker of Record and
assist VEIC with all aspects of risk transfer as further described below.
* Secure the best mix of insurance coverage at the least possible cost for VEIC, in alignment
with its risk tolerance, all applicable laws and contractual requirements. This includes VEIC's
existing coverage portfolio, which includes, but is not limited to: commercial general liability,
business automobile liability, workers' compensation, stop gap coverage in certain states,
employer's liability, foreign liability, cyber liability, professional liability (errors & omissions),
pollution liability, crime (third-party indemnity), sexual/physical abuse and molestation,
directors and officers, fiduciary liability, umbrella or excess liability, and possibly disability &
paid leave where required by law.

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* Facilitate communication between VEIC and its selected insurance carriers.
Broker Services:
* Loss Exposure Analysis: Identify and analyze VEIC's loss exposures, advise vulnerabilities, and
recommend changes to coverage, terms, or limits. Includes at least one annual meeting with
VEIC's leadership team and quarterly check-ins with a member(s) of its Legal team and/or
Human Resources team(s). The annual meeting with VEIC's leadership team should focus on
strategic discussions around the value, importance, and market insights related to VEIC's
insurance program, rather than a review of specific policy terms or coverage details.
* Insurance Procurement & Renewal: Assist with procuring and renewing insurance policies
with reputable, financially responsible carriers on the most favorable terms. VEIC's policies
generally have a September 1 - August 31 effective period. Services include coordinating
insurer applications; pre-populating routine information; working with VEIC to complete and
review applications; obtaining clarifications from insurers or underwriters as needed;
negotiating coverage terms and premiums; presenting and evaluating multiple quotations;
advising VEIC on coverage options, insurer operations, claims handling, and related services;
binding coverage; and reviewing all policies, binders, and endorsements to ensure accuracy
and completeness prior to delivery to VEIC.
* Providing VEIC with an in-depth insurance coverage summary annually detailing its
policies, terms, carriers, premiums, detailed billing schedule, deductibles, and any other
pertinent information.
* Assisting VEIC with routine insurance audits to ensure a successful outcome. This work
will include gaining a deep understanding of the business to ensure VEIC is accurately
estimating exposures and helping to coordinate and schedule the audit and facilitate
insurance carrier data requests as needed.
* Assisting VEIC with filing and handling claims that may arise. This work may include
collecting information, providing guidance on which carrier(s) or policy(ies) may provide
coverage, submitting claims, answering any questions that may arise during the claim process,
monitoring the claims to ensure proper handling, and monitoring VEIC's overall claims activity
to ensure VEIC always has adequate coverage.
* Reviewing proposed minimum insurance requirements for new business, providing
guidance, and obtaining additional coverage, endorsements, or limits as needed to meet
contractual requirements.
* Providing ongoing support to VEIC on issuance and management of Certificates of
Insurance including producing certificates of insurance for VEIC's certificate holders,
maintaining a system, including a repository and log of external party contact info, and COIs
that have been issued to external parties on behalf of VEIC, and tracking COI renewal
schedules to meet contractual obligations.
* Providing ongoing support and counsel regarding VEIC's general insurance needs and
operations including answering insurance coverage questions and advising on emerging risks
in the market.
* Providing training and education provide training and education to internal stakeholders as
needed, which may include VEIC's Board of Directors, Executive and Senior Leadership Teams,
and program staff. Services may include on-site or remote trainings, as well as access to e-
learning tools and resources offered by your firm or the insurers with whom you work, such as
workers' compensation safety trainings, insurance compliance trainings, etc. VEIC currently
uses Engagedly as its learning and development platform; any remote learning resources must
be compatible with Engagedly.
* (Extra Credit) Providing ongoing support to VEIC on tracking, management and
compliance of Certificates of Insurance issued to VEIC

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Preparing and Delivering a Proposal
For ease and efficiency of review, VEIC has specified the requirements for submitting a proposal to this RFP.
Bidders must follow and be responsive to all requirements of this RFP. Proposals should be clear and
concise and presented in the form of a written response with sections and sub-headings. Proposals that do
not follow the required format or are incomplete may be disqualified at VEIC's sole discretion.
Bidders are required to propose, and will be scored upon, the individual criteria summarized in Table 2
below. Each bidder must include a Bid Summary Table based on Table 2 with the specific value or
information proposed for each listed criterion. The Bid Summary Table shall be presented as part of the
narrative summary.
The values provided in the Bid Summary Table represent the bidder's proposed values and are not binding
on VEIC. VEIC, in its sole discretion, will determine the final values to be awarded to each bidder.
A summary of VEIC's current insurance program (Appendix A) is available upon request. Bidders may
request Appendix A by emailing legal@veic.org with the subject line "Insurance Brokerage RFP -
Request for Appendix A," in accordance with the instructions set forth in this RFP. Requests must be
submitted no later than 5:00 p.m. EDT on Friday, May 1, 2026.
Note: This RFP is intended to evaluate insurance brokerage services and market access. Bidders are not
permitted to obtain formal insurance quotations from carriers as part of this proposal on behalf of
VEIC. However, bidders must provide a preliminary assessment of VEIC's current insurance program,
including expected premium ranges, potential carrier markets, and any anticipated market conditions that
may affect pricing at renewal.
Table 2: Response Summary, Evaluation Criteria and Points
Scoring Category/Criteria Description Max
Points
Company Information and * Executive Summary, including company mission, values, 10
Executive Summary organizational culture, and approach to client services.
* References
* Company Data, including client retention, workforce
and/or supplier diversity information, and any initiatives
related to diversity, environmental sustainability, or
corporate social responsibility.
Team Qualifications and * The team's knowledge, experience, and ability to 15
Experience successfully complete the Scope of Work.
* Subject matter expertise, work experience, training,
licenses and/or other credentials of key employees.
* Demonstrated commitment to collaborative, inclusive,
and value-driven services aligned with VEIC's
organizational mission.
Scope of Work * Approach to the Scope of Work. 25
* Implementation plan and timeline.

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Commercial Lines Access and * List of commercial insurance lines your company can 15
Market Strategy access that align with VEIC's existing coverage (see
Appendix A, available upon request).
* Identification of insurers with whom your firm maintains
relationships for each line of coverage.
* Preliminary assessment of potential carrier markets and
expected premium ranges for VEIC's program.
Commission Disclosure * Full disclosure of expected commissions associated with 18
VEIC's account.
and Broker Fees
* Any broker fees paid separately by VEIC through a
professional services agreement.
* Proposed payment terms and an annual not-to-exceed
amount for the Scope of Work.
* Preference will be given to bidders offering the most
comprehensive services at the lowest overall cost.
Resources and Tools * Resources and tools provided by your company or 17
partner insurers related to the Scope of Work (e.g.,
secure document portals, systems and processes for
convenient and efficient applications, resource
databases, training tools, and/or certificate of insurance
management systems).
TOTAL 100
Proposal Requirements
A. Company Information and Executive Summary: (2 pages maximum) This section of the proposal
must include the following:
1. Company Info: Name of the business, contact person, and contact information including
full legal name, address, telephone, mobile telephone number, e-mail address, and
website address, as applicable.
2. Executive Summary: Provide a brief description of your company, including its
mission, values, and organizational culture. Describe the types of organizations your
company typically supports (e.g., size, location, geographic footprint, sector, and
complexity), how your firm differentiates itself from competitors, and your company's
knowledge of and relationships with insurance carriers.
Please also describe any policies, initiatives, or commitments related to diversity,
environmental sustainability, or corporate social responsibility, where applicable.
3. References: Provide at least two current client references and one former client
reference. For each reference, include the name, point of contact, address, telephone
number, email address, and a brief description of the services provided, length of the
relationship, and general client demographics.
4. Company Data: If available, provide your client retention rate for the past three years,
workforce and/or supplier diversity information, and any other relevant operational
metrics such as average turnaround times for routine services (e.g., producing
certificates of insurance).
B. Team Qualifications and Experience: (5 pages maximum): This section must demonstrate your
team's knowledge, experience, and ability to successfully perform the Scope of Work. Provide the

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names and contact information of the primary contact and key personnel who will be assigned to
VEIC's account. Include resumes for key staff and describe their subject matter expertise, work
experience, relevant training, licenses, or certifications, and their anticipated roles.
Where relevant, describe your team's approach to collaborative, inclusive, and values-driven
client service and how your team supports organizations with missions similar to VEIC's.
C. Scope of Work: Provide a narrative describing your approach to the Scope of Work, including
your implementation plan and anticipated timeline, factoring VEIC's current policy period. This
section should also include proposed values or summary information addressing each of the
scoring criteria listed in Table 2.
D. Commercial Lines Access: Provide a list of the commercial insurance lines your firm can access
that corresponds with VEIC's existing coverage and identify the insurers with whom your firm
maintains relationships for each line of coverage.
E. Commission Disclosure and Broker Fees: Provide full disclosure of:
1. Any commissions expected to be earned by your firm in connection with VEIC's account
2. Any broker fees that would be paid separately by VEIC, if applicable, through a
professional services agreement
3. Proposed payment terms
4. An annual not-to-exceed amount for the services described in the Scope of Work
F. Resources and Tools: Describe any resources, platforms, or tools provided by your firm or partner
insurers that support the Scope of Work. Examples may include secure document portals,
application tools, certificate of insurance management systems, resource databases, risk
management tools, or training resources.
G. Binding Transmittal Letter (1 page maximum): Proposals must include a signed binding transmittal
letter from an individual authorized to obligate the bidder to the services described in the proposal.
The letter must identify the individual authorized to serve as the bidder's representative for future
communications and must state that the proposal will remain valid for 90 days.
H. Certificate of Insurance. Bidders must provide a current certificate of insurance demonstrating
coverage for the following:
Insurance Policies Limits
Commercial General Liability $1m per occurrence/$2m aggregate
Automotive Liability $1m combined single limit
Workers' Compensation Statutory mandates
Employer's Liability $500k per accident; $500k per disease;
$500k policy disease limit
Professional Liability Insurance (Errors $1m per occurrence/$2m aggregate
& Omissions)

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Umbrella or Excess Liability Insurance $1m per occurrence/$2m aggregate.
The selected bidder will be required to maintain these coverages throughout the duration of the
agreement.
I. Disclosure of any pertinent litigation: Bidder must disclose:
1. Any claims filed against the company for errors and omissions, or complaints filed
against current or former employees for violating rules or regulations associated with
their professional licenses. If applicable, provide the number of claims or complaints
and a general description of their nature. Employee-specific information should not be
included.
2. Any past or pending judgments, lawsuits, regulatory actions, bankruptcies, or
similar proceedings that may adversely affect the bidder's ability to meet the
requirements of this RFP or perform the proposed services. Provide a brief description
and applicable case number.
3. This disclosure obligation is ongoing from the date of proposal submission through the
expiration of any resulting agreement. Failure to disclose pertinent litigation may result
in disqualification.
J. Information Security Requirements: Please review the Information Security
Requirements in Appendix B (posted with this RFP) and submit the completed
Information Security Questionnaire with your proposal. Any requested exceptions or
proposed modifications should be clearly identified.
Limitation
This RFP does not commit VEIC to award a contract or pay any costs incurred in preparing or submitting proposals.
VEIC reserves the right to reject any or all proposals, negotiate with any qualified bidder, or cancel this RFP, in whole
or in part, if doing so is deemed to be in VEIC's best interest.

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Appendix A - Summary of VEIC's Current Insurance Program
[This attachment is available upon request. Please see instructions above for requesting Appendix A.]

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Appendix B - Information Security Requirements and Questionnaire
The VEIC Vendor Information Security Requirements are provided on the following page.
The Information Security Questionnaire is available here

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VEIC
VENDOR INFORMATION SECURITY REQUIREMENTS
Vermont Energy Investment Corporation and its individual operating companies, divisions, subsidiaries
and affiliates (collectively, "VEIC") must ensure that access to its information systems, networks,
facilities and other resources (collectively, "VEIC Systems") and its data is appropriately controlled and
that these resources are adequately protected. This includes access by vendors, other third parties and
their respective employees, agents, subcontractors and representatives (collectively, "Vendors" and
each individually, a "Vendor").
This Vendor Information Security Requirements document (this "VISR") sets forth the obligations that
apply to Vendors that receive access to (i) VEIC Systems, (ii) VEIC Data (as defined below) and/or (iii)
VEIC premises in connection with receipt of access to VEIC Systems and/or VEIC Data, when engaged in
business with any VEIC entity (such entity, "Company"). This VISR supplements the terms and conditions
set out in any agreement between Company and Vendor to which this VISR is attached or that otherwise
incorporates this VISR by reference (the "Agreement"). VEIC Systems and VEIC Data are confidential
information of VEIC. For purposes of this VISR, "VEIC Data" means personally identifiable information /
personal information of VEIC's customers or associates, protected health information, payment card
information, and any other confidential or restricted information or data of VEIC that if disclosed to the
public or unauthorized parties (including competitors) is likely to cause significant harm or competitive
disadvantage to VEIC (e.g., trade secrets, marketing plans, financial information, budgets, IP (internet
protocol) addresses and IP ranges, strategic plans, employee compensation and performance
information).
1. General Obligations
If Vendor is provided with access to VEIC Data or VEIC Systems as part of its engagement with Company,
Vendor shall for the entire duration of the engagement:
a) maintain at all times a comprehensive and formally documented information security program
that:
1. is based on a reputable information security standard;
2. complies with applicable laws and regulations and;
3. includes appropriate administrative, technical, physical, organizational and operational
safeguards and other security measures designed to:
4. establish minimum required standards related to the safeguarding of Vendor data and
VEIC Data contained in both paper and electronic records;
5. protect the security and confidentiality of Vendor data and VEIC Data in a manner
consistent with applicable industry standards;
6. protect against any anticipated threats or hazards to the security or integrity of Vendor
data and VEIC Data; and
7. protect against unauthorized processing, loss, use, disclosure or acquisition of or access
to any Vendor data or VEIC Data; and upon Company's request, provide a summary or
overview of this security program and/or a written confirmation that an assessment of
Vendor's information security program has been conducted by an independent assessor
and that any discovered program deficiencies have been remediated;
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