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NAICS Code· 524210

NAICS 524210: Insurance Agencies and Brokerages

This industry comprises establishments primarily engaged in acting as agents (i.e., brokers) in selling annuities and insurance policies. Cross-References. Establishments primarily engaged in--Show more

NAICS 524210 – Insurance Agencies and Brokerages encompasses firms that act as intermediaries between insurers and government entities, facilitating the placement of commercial and specialized insurance coverage such as property, liability, workers’ compensation, cyber risk, and surety bonds. These agencies and brokerages provide risk assessment, policy structuring, claims advocacy, and compliance advisory services tailored to federal, state, and local government operations.

83
Active Contracts
$32.7M
Total Obligations (12mo)
239
Awarded Contracts (12mo)
47
Contractors Awarded (12mo)
1
Median Bidders per Award
-13.9%
YoY Growth

Industry Spending Overview

Federal obligations, top contractors and agencies, and related industry codes for NAICS 524210.

AI Industry Description

NAICS 524210 – Insurance Agencies and Brokerages encompasses firms that act as intermediaries between insurers and government entities, facilitating the placement of commercial and specialized insurance coverage such as property, liability, workers’ compensation, cyber risk, and surety bonds. These ...

NAICS 524210 – Insurance Agencies and Brokerages encompasses firms that act as intermediaries between insurers and government entities, facilitating the placement of commercial and specialized insurance coverage such as property, liability, workers’ compensation, cyber risk, and surety bonds. These agencies and brokerages provide risk assessment, policy structuring, claims advocacy, and compliance advisory services tailored to federal, state, and local government operations. They do not underwrite policies themselves but leverage market access and regulatory expertise to secure optimal coverage terms from third-party carriers. In the government contracting landscape, this NAICS supports mission continuity by ensuring agencies meet statutory insurance requirements for assets, personnel, and contracted operations, particularly in high-risk environments such as defense logistics, infrastructure projects, and emergency response initiatives. No contractor data is available for this NAICS code based on current government contracting records, indicating limited visibility into prime contractors or subcontractors actively engaged in direct federal procurement under this classification. The sector likely includes a mix of large national brokerages with federal compliance divisions and small businesses specializing in niche public-sector insurance needs, though none have emerged as dominant award recipients in available datasets. No agency data is available to identify primary buyers, but demand is typically driven by departments with extensive physical assets, field personnel, or contractor-managed operations—such as the Department of Defense, General Services Administration, and Department of Transportation—where insurance compliance is mandated but often procured indirectly through third-party service contracts. The competitive landscape is characterized by low barriers to entry but high regulatory complexity, with opportunities concentrated in agencies requiring specialized risk transfer solutions. Contractors with deep knowledge of federal acquisition regulations, surety bond requirements, and federal employee benefits frameworks are best positioned to capture niche procurement opportunities.

Small Business Size Standard

The SBA threshold that decides who can bid NAICS 524210 work as a small business.

$15.0M
Applies to the whole industry code

The SBA cap for this NAICS (13 CFR 121.201). A business at or under it can self-certify as small for work in this code, which is what makes it eligible for a small-business set-aside. The cap is set per NAICS, so the same company can be small in one code and not in another.

13 CFR 121.201, effective January 1, 2026. The SBA revises the table roughly once a year.

Top Contractors

Companies with the highest total award value under NAICS 524210, ranked by dollars won.

Competition

How many companies historically bid on federal awards in NAICS 524210, from bidder counts reported on USAspending.

Usually Single-Bid

Half or more of reported awards drew exactly one bidder, usually a sign of incumbent-held work rather than an open field. · 4,104 reported awards

Median Bidders

1

Per reported award, all-time

Single-Bid Awards

51%

Share of reported awards with one bidder

10+ Bidder Awards

0%

Share of reported awards with 10+ bidders

Reported Awards

4,104

68% of 6,069 total awards

Bidder Count Distribution by Fiscal Year

Share of reported awards in each bidder-count bracket per federal fiscal year.

How this code compares up the NAICS hierarchy. Parent cohorts pool every code under their prefix, so they are the steadier baseline when a 6-digit sample is thin.

Industry FamilyCompetitionMedian BiddersSingle-BidBidder MixReported Awards
524210This Code
Insurance Agencies and Brokerages
Usually Single-Bid151%
4,10468% of 6,069
52421NAICS Industry
Usually Single-Bid151%
4,10468% of 6,069
5242Industry Group
Agencies, Brokerages, and Other Insurance Related Activities
Usually Single-Bid155%
7,88673% of 10,834
524Subsector
Usually Single-Bid156%
14,57070% of 20,803
52Sector
Finance and Insurance
Usually Single-Bid171%
55,86385% of 65,585

Bidder counts reported on past federal awards in this NAICS (USAspending). An open opportunity has no bidders yet, so this is the historical norm for similar work, not a fact about this solicitation. Not all awards report bidder counts, and fewer bidders often means incumbent-held work rather than an easier win. Federal reporting of bidder counts fell from ~96% of awards (FY2016) to ~30% (FY2018 onward); the chart shows shares of reported awards, and washed-out stretches mark years with fewer than 30 of them.

Related NAICS Codes

Industries similar to Insurance Agencies and Brokerages, by shared sector, subsector, and industry group.

Explore contracts across multiple NAICS codes Browse all NAICS Codes

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NAICS 524210 FAQ

Frequently Asked Questions

NAICS code 524210 covers Insurance Agencies and Brokerages. This industry comprises establishments primarily engaged in acting as agents (i.e., brokers) in selling annuities and insurance policies. Cross-References. Establishments primarily engaged in--

Recently Posted in Insurance Agencies and Brokerages

NAICS: 524210
New
SLED
Employee Benefits Brokerage and Consulting Services
Solicitation # 2026-008
The City of Santa Fe, Texas, is seeking statements of qualifications from licensed insurance brokerage and employee benefits consulting firms to manage its fully insured employee benefits program. The selected firm will provide year-round advisory, brokerage, renewal and carrier marketing, enrollment, administrative, communication, and employee support services. Key responsibilities include managing the annual renewal timeline for the October 1 plan year, preparing marketing submissions, and developing a transition implementation plan. To be eligible, firms must hold all required Texas Department of Insurance licenses, possess at least five years of experience in benefits brokerage, and demonstrate a track record of serving Texas municipalities or comparable public-sector employers. Submittals must be received in a sealed package by 2:00 p.m. Central Time on Monday, November 2, 2026, and must include one signed original, three copies, and a searchable PDF on a USB drive. Proposals are evaluated based on service model and employee support (30 points), renewal and negotiation approach (25 points), technology and administration (20 points), municipal experience (15 points), and overall compensation value (10 points). The City may conduct interviews between November 9 and 10, 2026, with a final staff recommendation anticipated for November 19, 2026. The anticipated contract effective date is December 1, 2026, contingent upon City Council approval and the availability of appropriated funds.
City of Santa Fe

POSTED

4 days ago

DEADLINE

in 21 days
View Details
NAICS: 524210
New
SLED
RISK MANAGEMENT CONSULTANT
Solicitation # RFP 26-22
The City of Camden is soliciting proposals for a Risk Management Consultant to support the Law Department's Office of Risk Management for the calendar year 2027, running from January 1 through December 31. The selected vendor will provide comprehensive risk management consulting services, with a primary focus on the placement of property and casualty insurance coverage. Key requirements include the ability to access insurers specializing in New Jersey municipalities and a deep understanding of the Municipal Excess Liability Joint Insurance Fund and affiliated local JIF programs. Additionally, the consultant must actively participate in the City's Safety Committee and ensure all assigned staff are New Jersey licensed Property and Casualty Producers. Proposals must be submitted electronically via the Bids&Tenders portal by October 27, 2026, at 11:00 AM. The contract will be awarded by the City Council to the proposer deemed most advantageous based on price and evaluation factors, including expertise, understanding of scope, resources, key personnel, and experience with urban socioeconomic and infrastructure factors. Compensation is set at a fee of six percent of the assessment, paid directly by the Camden County Joint Insurance Fund. Mandatory submission requirements include a Non-Collusion Affidavit, Statement of Ownership, N.J. Business Registration Certificate, and certifications regarding investment activities in Iran and prohibited activities in Russia or Belarus, alongside EEO and Affirmative Action compliance documentation.
City of Camden

POSTED

6 days ago

DEADLINE

in 15 days
View Details
NAICS: 524210
SLED
Employee Benefits Consulting and Insurance Brokerage Serviecs RFP
Solicitation # LCSD10052026
The Logan City School District is soliciting proposals for a qualified Broker/Consultant to provide comprehensive employee benefits brokerage, consulting, and strategic advisory services. The selected partner will be responsible for managing the district's benefits program through data-informed guidance, competitive procurement and negotiation with insurance carriers, and operational support including regulatory compliance, financial analysis, and employee enrollment services. The contract is envisioned as an initial two-year agreement with the option for three additional one-year extensions, for a maximum potential term of five years. Proposers must be licensed in the State of Utah, independent of any single insurance carrier, and possess sufficient organizational capacity to handle the scope of work. Submissions must be delivered as two separate PDF electronic files: a Technical Proposal and a separate Cost Proposal. Evaluation is based on a 100-point matrix focusing on the proposed service team, service approach, firm qualifications, strategic assessment, compensation value, employee account management, and technology resources. Experience with Utah public school districts or governmental entities is highly desirable. All inquiries and submissions must be emailed directly to Purchasing Manager Paul Guymon by the November 6, 2026, deadline.
Utah

POSTED

7 days ago

DEADLINE

in 25 days
View Details

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