The Dormitory Authority of the State of New York (DASNY) intends to procure an insurance broker to provide broker/marketing and program support services for its Commercial General and Umbrella/Excess Liability Insurance program for the October 1, 2021-2022 through 2023-2024 policy years. It is DASNY’s intent from this solicitation to select and award a contract to one broker or team led by a NYS certified MWBE licensed insurance broker (“Broker”). In accordance with the Public Authorities Law, Section 2879 and the New York State Executive Law, Article 15-A, this opportunity is solely intended for certified MWBE’s.
The anticipated contract term will be for three years, with two optional one-year renewals, commencing on October 1, 2021. The successful Broker will be provided Broker of Record letters, as necessary, for marketing purposes in advance of the October 1, 2021 contract commencement date.
DASNY is seeking proposals from firms seeking to provide insurance broker services that will bring a program of risk financing, claims and loss control services in support of DASNY’s efforts to manage its exposures to risk and control the costs associated with those exposures. Interested firms must:
- Be a NYS certified MWBE licensed insurance broker or a team led by a NYS certified MWBE licensed insurance broker. The lead Broker shall clearly demonstrate its capabilities in managing and/or providing the requisite services listed below for brokerage placement, claims administration assistance, and risk management support services. Furthermore, if a team is proposed, the team must clearly define the roles and/or services each team member will deliver or provide.
- Demonstrate successful brokerage experience for commercial and/or government clients.
- Demonstrate the ability to access markets of sufficient capacity to meet the minimum program limits of $80 million with carriers minimally rated “A-“ by A.M. Best at the time of submittal.
- Demonstrate the ability to perform risk identification, coverage, limits, loss, and pricing analyses required to effectively service DASNY and its clients.
- Demonstrate strong claims support services for a large/active client program, including the ability to collaborate with and/or provide administrative services alongside of other independent service providers.
- Provide evidence of in-force Errors & Omissions (E&O) insurance coverage with a minimum limit of $10,000,000 or provide proof of insurability with a current quote for limits required to increase existing coverage to $10,000,000 upon notification of selection and prior to beginning work and/or award of contract. Brokers proposing with a team must provide evidence that the lead MWBE broker shall solely fulfill this, and any other insurance obligations enumerated in the Sample Contract, without reliance on insurance provided by other team members or propose an alternative insurance arrangement reaching the same E&O limits in a manner that is acceptable to DASNY.
- Demonstrate the ability to access expert loss control/engineering support services for a portfolio of higher education institutions, including high-rise residential exposures.
- Possess a valid and current New York State Property & Casualty Insurance Broker’s license. All certified MBE/WBE firms submitting proposals to this solicitation should be registered as such with the New York State Department of Economic Development.
DASNY prefers to compensate insurance brokers on a fee basis, but commissions will be considered upon request. In either case, the Broker is required to disclose all sources of revenue to be earned by the Broker, its affiliated organizations, and contracted/partner/team members in association with the placement of the insurance programs and/or any services provided in association with those programs. DASNY reserves the right to approve both the form and amount of that compensation.
For more details regarding this solicitation please refer to DASNY’s website at https://www.dasny.org/opportunities/rfps-bids/professional-services
In accordance with State Finance Law § 139-j and § 139-k, this solicitation includes and imposes certain restrictions on communications between Dormitory Authority personnel and an Offerer during the procurement process. The designated staff for this procurement is Rachel Scaccia, RFP Coordinator. (Email:[email protected]). Contacts made to other Dormitory Authority personnel regarding this procurement may disqualify the Offerer and affect future procurements with governmental entities in the State of New York. Please refer to the Authority’s website (www.dasny.org) for Authority policy and procedures regarding this law, or the OGS website (www.ogs.state.ny.us/aboutogs/regulations/defaultAdvisoryCo uncil html) for more information about this law. All proposers, domestic and foreign, must be in compliance with New York State business registration requirements. Contact the NYS Department of State regarding compliance. In addition, business entities proposing to provide professional engineering services must obtain a Certificate of Authorization to Provide Engineering Services in New York State from the State Education Department. Proposals must be submitted in the full legal name of the proposer, or the full legal name plus a registered assumed name of the proposer, if any.
Albany, NY 12207
Email: [email protected]
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Albany, NY 12207
Email: [email protected]
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