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ESTATE-3074 - USA (Columbia, South Carolina) - Reinsurance Intermediary Services - Deadline April 9,2020

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: ESTATE-3074

Government Authority located in Columbia, South Carolina; USA based organization looking for expert vendor for reinsurance intermediary services.

[A] Budget: Looking for Proposal

[B] Scope of Service:

(1) Vendor needs to provide reinsurance intermediary services to secure an insurance broker that consistently meets or exceeds a set of well-defined service levels, and will help SAF develop the appropriate reinsurance coverage for the continued stability and growth of SAF (State Accident Fund) to the government authority located in Columbia, SC.
- Insurance Broker Services shall maintain a process to successfully provide saf with reinsurance placement that meets or exceeds standards, develop SAF’S criteria for market coverage for the purpose of placing reinsurance coverage, prepare analysis annually, or as requested, that summarizes reinsurance market trends that would be inclusive of information detailing losses, earnings, and capacity, prepare analysis annually, or as requested, that summarizes exposure, risk aggregation, and loss potential based on various events that are specific to saf, prepare analysis annually, or as requested, that details historical and projected loss development for saf claims experience, ensure all saf risk exposure data is disclosed and effectively presented to reinsurance underwriters, prepare summaries and recommendations of reinsurer proposals and deliver to saf management and/or executive director as requested, coordinate the annual renewal process of reinsurance, including negotiating renewal terms, conditions, and pricing at the direction of saf, provide saf with an analytical report annually, or as requested, that placed coverage meets transfer of risk criteria and requirements, ensure the broadest and most advantageous reinsurance coverage possible is obtained relevant to budget, effective capital utilization, and prevailing market trends, provide an annual summary of the workers’ compensation insurance marketplace to aid in making determinations, annually provide saf with modeling and advice in exploring various reinsurance structures, assist with allocation of premium payment to reinsurers and, if necessary, the collection of loss reimbursements due from reinsurers, if applicable, assist with the analysis and negotiation of commutation agreements, assist with staff or outside inquiries regarding reinsurance contract provisions and claim coverage, coordinate the reinsurance renewal process, including negotiating renewal terms, conditions, and pricing with assistance from saf as requested, maintain a process to report and track all reinsurance referrals through an online web portal. in case of emergency other forms of reporting such as mail, fax, or e-mails shall also remain acceptable, maintain a process to provide appropriate claims and payment management services on behalf of saf, provide summary/detail management reports monthly, quarterly, and, annually. reports will be requested on a fiscal and calendar year basis, provide any other services that are usual and customary for similar clients of the reinsurance intermediary.
(2) A pre-proposal conference will be held on March 31, 2020.
(3) All question must be submitted no later than March 31, 2020.

[C] Eligibility:

- Onshore (USA Organization Only);

[D] Work Performance:

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

[E] Proposal Submission:

Response should be submitted physically (courier or post).

Expiry Date : Thursday, 9 April, 2020

Pre-proposal Conference Date : Tuesday, 31 March, 2020

Question Answer Deadline : Tuesday, 31 March, 2020

Category : Real Estate, Brokerage Services, Maintenance, Repair and Alteration of Property, Insurance Services, Uncategorized

Country : USA

State : South Carolina

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