Insurance Broker Services

Location:	Arkansas
Posted:	Jan 28, 2025
Due:	Feb 5, 2025
Agency:	State Government of Arkansas
Type of Government:	State & Local
Category:	R - Professional, Administrative and Management Support Services
Solicitation No:	RFP 2024-12-B
Publication URL:	To access bid details, please log in.

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Arkansas – Bureau of Legislative Research

RFP# - 2024-12-B

Request for Proposal

December 20, 2024

This document contains confidential and proprietary information and may not be copied, transcribed,

distributed or otherwise disseminated without the express written consent of Perr&Knight, Inc.

Arkansas – Bureau of Legislative Research

Table of Contents

Section 1: Overview ...................................................................................................................................... 3

1.1 ........ Introduction / Purpose ................................................................................................................ 3

1.2 ........ Calendar of Events....................................................................................................................... 3

1.3 ........ Contact Information .................................................................................................................... 4

1.4 ........ Roles & Responsibilities............................................................................................................... 4

Section 2: RFP Response Instructions ........................................................................................................... 5

2.1 ........ Inquiries and Questions............................................................................................................... 5

2.2 ........ Submission of Proposal ............................................................................................................... 5

2.3 ........ Misrepresentation ....................................................................................................................... 6

2.4 ........ Insurance Requirements.............................................................................................................. 6

2.5 ........ Corporate Change........................................................................................................................ 6

2.6 ........ Proposal Format and Contents.................................................................................................... 6

2.7 ........ Evaluation Process....................................................................................................................... 7

2.8 ........ Use of Partners and/or Subcontractors....................................................................................... 8

Section 3: Project Scope ............................................................................................................................... 9

3.1 ........ Scope of Services for the RFP ...................................................................................................... 9

3.2 ........ Proposal Format .......................................................................................................................... 9

3.2.1

3.2.2

3.2.3

3.2.4

3.2.5

3.2.6

3.2.7

Cover Letter........................................................................................................................... 10

Table of Contents .................................................................................................................. 10

Section 1: Executive Summary .............................................................................................. 10

Section 2: Experience and Qualifications .............................................................................. 10

Section 3: References............................................................................................................ 12

Section 4: Pricing ................................................................................................................... 12

Section 5: Certifications & Disclosures.................................................................................. 12

Proposal Signature Page ............................................................................................................................. 14

December 20, 2024

Page 2

Arkansas – Bureau of Legislative Research

Section 1: Overview

1.1 Introduction / Purpose

The Bureau of Legislative Research (“BLR”) is seeking a qualified vendor (“the Awarded Vendor”)

to provide comprehensive insurance brokerage services related to the placement and

maintenance of commercial property insurance policies to cover all state-owned buildings,

including public education facilities and higher education institutions. The total insured value of

all buildings is estimated to exceed $50 billion.

The purpose of this request for proposal (“RFP”) is to solicit proposals from experienced vendors

specializing in the placement of commercial insurance property coverage to attach excess of the

state’s retained losses. The Awarded Vendor may be required to take all steps necessary to place

and otherwise maintain the insurance coverage.

Before the Notice of Intent to Respond Deadline detailed in Section 1.2 of the RFP, Calendar of

Events, prospective vendors should submit to Perr&Knight a Notice of Intent to Respond (in the

form of a simple e-mail). Such notice shall include the following information:

x The business or individual’s name (as appropriate);

x A contact person’s name and title; and

x The Contact person's mailing address, telephone number, and e-mail address.

A Notice of Intent to Respond creates no obligation and is not a prerequisite for submitting a

response. However, it is necessary to ensure receipt of any RFP amendments, responses to

questions, or other notices and communications relating to the RFP.

The Executive Subcommittee of the Legislative Council, a committee of the Arkansas General

Assembly, (the "Executive Subcommittee") engaged the services of Perr & Knight to assist it with

a study it is conducting concerning possible revision of the property insurance programs providing

coverage to state-owned property, including education facilities owned by the state (both K-12

facilities and institutions of higher education). As the Subcommittee is working towards

implementation of its recommendations, it is seeking a Vendor(s) to provide the services set forth

in this Request for Proposals. The Bureau of Legislative Research is the staff agency for the

Executive Subcommittee and will serve as the contracting entity with the successful respondent.

The successful respondent may serve as the broker of record for the BLR and the Executive

Subcommittee as it moves forward with exploration of possible revisions to the state's current

property insurance programs.

1.2 Calendar of Events

Listed below are the important dates and times by which the actions are anticipated to be taken

or completed:

December 20, 2024

Page 3

Arkansas – Bureau of Legislative Research

CALENDAR OF EVENTS

DATE

12/20/2024

1/10/2025

1/17/2025

1/22/2025

1/31/2025

TIME

5:00:00 PM ET

ACTIONS

Release Request for Proposal

Last day for submission of written questions

Answers to questions provided to vendors

Notice of Intent to Respond Deadline

RFP Response Proposals Deadline

2/7/2025

Notify vendors advancing to demonstrations

2/14/2025

Release of demonstration Instructions

Note: Above dates may be subject to change depending upon changes to project schedule.

1.3 Contact Information

Questions related to this RFP, Notice of Intent to Respond, and RFP Response Proposals should

be addressed to:

Kyle M. Hales, ACAS, MAAA

Perr & Knight, Inc.

Principal & Consulting Actuary

Director | Risk Strategies & Solutions

E-mail: khales@perrknight.com

1.4 Roles and Responsibilities

x Perr&Knight – Distribute and address questions related to RFP, review and score RFP

responses in accordance with details outlined in Phase 2 of the evaluation process, as set

forth in Section 2.7 of this RFP, and notify vendors who have advanced to Phase 3.

x Executive Subcommittee – Review and evaluate presentations from vendors advancing to

Phase 3 and selection of Awarded Vendor.

December 20, 2024

Page 4

Arkansas – Bureau of Legislative Research

Section 2: RFP Response Instructions

2.1 Inquiries and Questions

Vendor(s) shall address all questions regarding this solicitation to the individual identified in

Section 1.3, Contact Information. Questions shall be received no later than the time and date

reflected in Section 1.2, Calendar of Events. E-mails or other written inquiries only are permitted.

Attempts to contact members of the Executive Subcommittee directly or to lobby for preference

will result in immediate disqualification. It is the responsibility of the vendor to confirm receipt of

the questions. However, the Executive Subcommittee in its sole discretion reserves the right to

answer any questions received after the deadline.

2.2 Submission of Proposal

The purpose of the response is for the vendor to demonstrate experience and expertise that best

meets the project scope described in Section 3 of this RFP. The response should address all

questions posed in the RFP that are relevant to the vendor’s expertise.

The prospective vendor hereby certifies, by submission of a response to this RFP, acceptance of

the requirements, terms, and conditions of this solicitation and all appendices and any addendum

released hereto.

The vendor is to submit the proposal and any accompanying attachments to the contact email

address listed in section 1.3.

RESPONSES SHALL BE RECEIVED ON OR BEFORE THE DUE DATE AND TIME AS SPECIFIED IN

SECTION 1.2, “CALENDAR OF EVENTS,” OR THE BID WILL BE REJECTED AS NONRESPONSIVE.

Proposals and documents pertaining to the RFP become the property of the BLR, and after release

to the Executive Subcommittee, shall be open to public inspection pursuant to the Freedom of

Information Act of 1967, Arkansas Code § 25-19-101, et seq. It is the responsibility of the Vendor

to identify all proprietary information by providing a redacted copy of the proposal, as discussed

below, and to seal such information in a separate envelope or e-mail marked as confidential and

proprietary.

If the proposal contains information that the Vendor considers confidential and proprietary, the

Vendor shall submit one (1) complete electronic copy of the proposal from which any proprietary

information has been removed, i.e., a redacted copy. The redacted copy should reflect the same

pagination as the original, show the empty space from which information was redacted, and be

submitted on a CD, a flash drive, or in a separate e-mail. Except for the redacted information, the

electronic copy must be identical to the original. The Vendor is responsible for ensuring the

redacted copy on CD, flash drive, or submitted via e-mail is protected against restoration of

redacted data. Submission of a redacted copy is at the discretion of the Vendor, but if no

information is redacted, the entire proposal will be considered available as public information

once published to the Subcommittee members.

December 20, 2024

Page 5

This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.

Insurance Broker Services

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