Broker Services for Water & Sewer Department Prop

Background

Miami-Dade County, represented by the Miami-Dade Internal Compliance Department, Risk Management Division (RMD), is seeking proposals for an insurance broker to provide brokerage services for a Property Insurance Program for the Miami Dade Water and Sewer Department (WASD) properties. The goal of this contract is to ensure adequate insurance coverage for the County's water and wastewater systems, which serve approximately 2.3 million residents and visitors. The current assets to be insured are valued at $2.2 billion, and the anticipated contract term is seven years.

Work Details

The selected Proposer will be responsible for a variety of services including: - Designing specifications and marketing the Program - Performing catastrophe modeling analysis - Analyzing proposals from insurers - Providing summaries of various Program options - Making recommendations for coverage - Suggesting alternative risk financing vehicles - Representing the County in negotiations with insurers - Administering coverage placements - Reviewing binders and policies - Maintaining schedules of values and insurance - Attending meetings related to the Program - Filing claims with insurers - Coordinating with loss control professionals - Assisting with National Flood Insurance Program (NFIP) applications. Key personnel must be licensed insurance agents in Florida, and their licenses must be maintained throughout the contract duration.

Period of Performance

The contract will be performed over a period of seven years.

Place of Performance

Services will primarily be performed within Miami-Dade County, Florida.

Bidder Requirements

Proposers must have key personnel who are licensed insurance agents for General Lines (Property & Casualty) in Florida. They must provide documentation demonstrating their qualifications, including experience with property insurance programs valued over $1 billion in South Florida within the last five years, as well as experience with governmental agencies. Proposals must also include a history of comparable contracts completed within the past five years.