Insurance Consulting Services

Background

The Massachusetts School Building Authority (MSBA) is seeking quotes from firms that provide insurance consulting services. The goal of this RFQ is to select a qualified insurance consultant to conduct a comprehensive review of the existing MSBA insurance policies and related risk management practices. This includes various types of insurance such as workers' compensation, cyber, property, general liability, umbrella, and auto insurance.

Work Details

The selected firm will perform the following tasks: 1. Insurance Program Evaluation: Review existing insurance policies, limits, deductibles, exclusions, and endorsements; evaluate adequacy of coverage for operational risks; identify coverage gaps or unnecessary costs; recommend changes to improve coverage or reduce risk exposure. 2. Cyber and Technology Risk: Conduct a review of cyber liability insurance; develop data breach response planning; analyze ransomware and privacy exposure; recommend changes to improve coverage or reduce risk exposure. 3. Benchmarking and Market Analysis: Compare insurance programs against peer public agencies/authorities or industry standards; analyze market conditions and pricing trends; evaluate alternative insurance structures or financing mechanisms; provide renewal strategy recommendations. 4. Advisory Support: Offer ongoing on-call consulting support (not subject to July 15, 2026 deadline); assist with claims if needed; advise on coverage levels and suitable products; help develop marketing information for MSBA’s program; assist in communicating recommendations for insurance coverage to MSBA’s broker in advance of policy renewals. 5. Extra Services: The MSBA may request additional related services which will be negotiated in good faith regarding scope and pricing.

Period of Performance

The scope of work must be completed on or before July 15, 2026. Ongoing advisory support is not subject to this deadline.

Place of Performance

Services will be performed for the Massachusetts School Building Authority.

Bidder Requirements

Firms that are Minority Business Enterprises (MBE), Women Business Enterprises (WBE), Veteran Business Enterprises (VBE), Service-Disabled Veteran-Owned Business Enterprises (SDVOBE), Minority Nonprofit Organizations (M/NPO), Women Nonprofit Organizations (W/NPO), Disability-Owned Business Enterprises, or LGBT Business Enterprises are encouraged to submit responses.