2, 2-year periods and then 1, 1-year period
Marsh USA, Inc. will provide quality insurance brokerage services to meet the needs of IPHEC in an effective and timely manner. This includes, but is not limited to, maintaining current coverages as outlined on Request for Proposal RFP# InsureFY18R, Exhibit 1 for IPHEC Member Institutions, identifying risks and exposures; determining insurance needs; identifying coverage gaps; providing recommendation and advice on managing risk and programs of insurance.
Contract highlights include:
- Contact each IPHEC Member Institution for underwriting data, specifications, and other data required by insurers for policy
placement, follow-up with each IPHEC Member Institution for timely response, assemble and prepare all such underwriting
data in a form acceptable for submission to the insurance market(s). Upon request of any IPHEC Risk Manager copies of
underwriting submissions shall be provided within ten days of the request.
- Solicit competitive quotes as requested by IPHEC Member Institution.
- Negotiate coverages and policy enhancements in the best interests of the IPHEC Member Institutions.
- Recommend the best programs of insurance available by preparing/presenting a comparison of insurer proposals
(coverage, limits, pricing, including all costs of services and revenue to broker, etc.).
- Arrange for the placement of ancillary coverages required by individual IPHEC Members Institutions as their needs develop
during the contract period.
- Provide renewal indications a minimum of thirty (30) days prior to policy expiration unless IPHEC Member Institution and
Vendor determine a different mutually agreeable date. All costs of services and/or changes to pricing must be fully
disclosed at this time. Additionally, any other changes from the prior year’s policy must be disclosed a minimum of thirty
(30) days before expiration unless IPHEC Member Institution and Vendor determine a different mutually agreeable date.
- Provide detailed, written policy coverage summaries and updates including limits; deductibles; and significant exclusions to
each IPHEC Member Institution as necessary.
- Order and bind coverages no less than ten (10) days for group placements and five (5) days for individual placements
before policy inception and issue accurate billings to the IPHEC Member Institutions unless IPHEC Member Institution and
Vendor determine a different mutually agreeable date.
|Vendor||Extended to Other Community Colleges|
|Marsh USA, Inc.||NO|