Reinsurance Intermediary Services

The contract for Reinsurance Intermediary Services issued by the South Carolina State Fiscal Accountability Authority aims to secure professional expertise in providing comprehensive reinsurance brokerage and consulting services for the South Carolina State Accident Fund, which manages workers' compensation coverage for state agencies. The procurement, posted on October 10, 2025, with a response deadline of December 11, 2025, targets firms capable of delivering tailored reinsurance solutions, market outreach, claims data analytics, and broker services. The contract value is estimated to range between 500,000 and 2,000,000 dollars over a five-year period, beginning around June 2026, with no renewal options specified. The solicitation emphasizes a trade-off award process, prioritizing technical capability, experience, and business proposals, rather than solely focusing on price. The contractual framework incorporates detailed provisions on security, key personnel, and organizational conflicts of interest, requiring offerors to demonstrate compliance with industry standards such as ISO/IEC 27001 or SOC 2 for data security, and to certify the absence of conflicts that could impair objectivity. The contract stipulates strict security controls for safeguarding government information, including encryption, incident response, and physical security measures. Key personnel must be committed full-time for the duration of the contract, with provisions for replacement of personnel of equal or greater qualifications. Organizational conflict of interest disclosures are mandatory, and failure to disclose potential conflicts may result in disqualification. The contract also specifies that performance and payment are contingent upon the availability of funds, with invoicing based on deliverables and services rendered, though specific payment procedures or performance metrics are not detailed. Offerors are instructed to submit proposals via the SCEIS online portal by the specified deadline, adhering to concise and clear formatting, with optional confidential submissions allowed. Overall, the contract seeks a responsible, experienced firm capable of delivering specialized reinsurance intermediary services aligned with the state’s operational and security standards.