Blanket Crime and Business Travel Accident Insurance Broker Services

The Dormitory Authority of the State of New York (DASNY) intends to procure an insurance broker for its Blanket Crime insurance program for the July 1, 2024-25 through 2029-2030 policy years and also assign Broker of Record responsibilities to the same broker for DASNY’s 2023-2026 Business Travel Accident policy and the subsequent 2026 renewal/marketing effort as outlined in the Scope of Services. The Blanket Crime insurance policy provides protection to DASNY and its subsidiaries from claims that arise from: employee dishonesty, forgery or alterations; on premise or in transit theft; computer hacking; money order or counterfeit currency fraud; loss of clients’ property; funds transfer fraud; and fraudulently induced transfer. All coverage, with the exception of fraudulently induced transfer, carries limits of $7,000,000 each occurrence with a $150,000 deductible. Fraudulently induced transfer coverage carries a limit of $250,000 with a $50,000 deductible. DASNY has a clean loss record for this line of coverage, which is renewed annually. DASNY currently has a Business Travel Accident policy in place for the period June 1, 2023 – June 1, 2026. The policy provides benefits to DASNY employees for injuries or death sustained during the course of travel on DASNY business. DASNY is seeking a broker who has the capability to assume the handling/service of this policy for the remainder of the current policy period and who can market the policy for renewal or replacement in advance of the 2026 expiration. 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 MWBEs. One broker will be selected based on the qualifications and criteria outlined below. Brokers are prohibited from approaching markets unless given authorization by DASNY in writing. Firms interested in responding to this solicitation must submit their proposal, which should not exceed 10 pages, excluding any required attachments, by email to Nicole White, Procurement Administrator at contact@example.gov no later than 5:00 p.m. on May 20, 2024. Proposals received after this date will not be accepted. Proposals must include the following information in the same number order as described below: 1. Provide a cover letter with your firm’s name, address; telephone number and website address (if applicable), along with the name, title, telephone number and email address of the individual within the firm who will be DASNY’s primary contact concerning this proposal. 2. Provide a copy of your firm’s current and valid New York State Insurance Broker’s license. 3. Provide a summary detailing the experience and credentials of the individual(s) who will negotiate with insurers on behalf of DASNY. 4. Provide a detailed description of your firm’s technical and administrative approach to marketing and policy placements. 5. Provide a description of your understanding of DASNY, its operations, and how your firm will market DASNY’s program to the crime and business travel accident insurance markets/carriers. 6. Provide three carrier market selections, in priority order, to whom your firm would market DASNY’s Blanket Crime Insurance coverage. Explain why your firm chose these markets and why they would be a good fit for DASNY. 7. Provide a list of recent insurance placements for firms that are similar in size and scope to DASNY including, in particular, three crime insurance placements and three business travel accident insurance placements. 8. Provide a description of your firm’s capability and expertise in preparing, reporting and negotiating potential claims, particularly crime/fidelity claims, with insurance carriers. Include experience and credentials of the individuals (s) who will provide claim services on behalf of DASNY. 9. Provide evidence of in-force Errors & Omissions insurance coverage with a minimum limit of $5,000,000 or proof of insurability with a current quote to increase existing limits to that level. Coverage must be in place within 5 business days of notification of tentative award. 10. Provide at least three recent references with contact information and phone numbers. 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 Offeror during the procurement process. Designated staff for this procurement are listed below. Contacts made to 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 https://ogs.ny.gov/acpl for more information about this law. All bidders, domestic and foreign, must be in compliance with New York State business registration requirements. Contact the NYS Dept. of State regarding compliance. Bids must be submitted in the bidder's full legal name. Service-Disabled Veteran-Owned Set Aside: No Due date:05/20/2024 5:00 PM Contract term: Four years with two two-one year renewal options at the discretion of DASNY County(ies): Albany Location: 515 Broadway, Albany, New York 12207