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REQUEST FOR PROPOSALS
RFP No. 02-08-19
INSURANCE BROKER SERVICES
Finance Department
Due: Thursday, July 31, 2008 No later than 4:00 P.M.
Deliver to: Office of the City Purchasing Agent City Hall – Third Floor 3 Washington Street Keene, NH 03431 603-357-9800 877-256-9165 Fax jtitus@ci.keene.nh.us www.ci.keene.nh.us
CITY OF KEENE NH
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City of Keene, New Hampshire Request for Proposals RFP No. 02-08-19 Insurance Broker Services
I. PURPOSE This request for proposals (RFP) is being issued to select an insurance broker for the City of Keene, New Hampshire. The contract will be for three (3) years with two (2) one-year options to renew as agreed upon by both parties. The first contract period will be December 1, 2008 – November 30, 2011. II. INSTRUCTIONS TO PROPOSERS A. All proposals must be submitted to: Office of the City Purchasing Agent Finance Department City Hall – Third Floor 3 Washington Street Keene, NH 03431-3191 B. Questions or comments regarding this proposal shall be directed in writing to Jeffrey Titus via mail at the above address, or via fax at (877) 256-9165, or via e-mail at jtitus@ci.keene.nh.us. C. All proposals must be submitted in a sealed envelope and clearly marked in the lower left hand corner, ‘RFP #02-08-19 – Insurance Broker Proposal.’ All proposals must be received by 4:00 PM, July 31 2008, in the Office of the Purchasing Agent, Finance Department – 3rd Floor City Hall, 3 Washington Street, Keene, New Hampshire 03431. D. Five (5) copies of the proposal must be submitted. No proposals or modifications to proposals may be made by telephone or fax. A proposal may be withdrawn and resubmitted if done prior to the above deadline. Such request for withdrawal shall be in writing. III. LOCAL BROKER REQUIRED A. The City of Keene is soliciting proposals from brokers with offices in, or within one hundred (100) miles of, the City. The selected broker must maintain said office in, or in close proximity to, the City of Keene for the duration of the contract.
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IV. MINIMUM QUALIFICATIONS A. Broker shall be a duly licensed insurance agent in the State of New Hampshire qualified to enroll employer groups in health, dental, life, and disability benefit plans and other insurance products and to provide employer groups with consulting services relative to the selection, procurement, refinement, implementation, and monitoring of such benefit plans and other insurance products in the best interest of the City of Keene. B. Broker will have at least five (5) years of experience in providing services as outlined in this RFP to groups of similar size as the City of Keene. C. Broker shall carry errors and omissions insurance with a minimum limit of $1,000,000 per occurrence and a minimum limit of $2,000,000 per year. D. Broker will have access to sufficient markets to obtain quotes from A-rated companies. V. INSURANCE TO BE PLACED – EMPLOYEE BENEFIT PLANS A. Health Insurance, including prescription, mental health, substance abuse, and vision benefits similar to the existing plan. The City currently utilizes a Third-Party Administrator (TPA) for its self-insured plan covering 302 members and their families. A copy of the plan is enclosed. The successful broker must be able to quote this plan and to obtain at least five (5) competitive quotes, as per Section VI of this RFP, for the duration of this contract, with plan years starting December 1st. The City will provide authorization to act as broker for the City if necessary. B. Dental Insurance similar to the existing plan. Full-time regular employees are covered by a self-insured plan with Northeast Delta Dental acting as TPA. The successful broker must be able to quote this plan and obtain at least one (1) competitive quote, as per section VI of this RFP, for each of the years covered by this RFP. The City will provide authorization to act as broker for the City if necessary. C. Basic Life Insurance/AD&D similar to the existing plan. Full-time regular employees are covered by insurance provided by Mutual of Omaha. A copy of the demographic information and current premium is enclosed. The successful broker must be able to quote this plan and to obtain at least one (1) competitive quote, as per Section VI of this RFP, for each of the years covered by this RFP. The City will provide authorization to act as broker for the City if necessary. D. Long-Term Disability Insurance similar to the existing plan. Full-time regular employees are covered by insurance provided by Mutual of Omaha. The successful bidder must be able to quote this plan and obtain at least one (1) competitive quote for each of the years covered by this RFP. The City will provide authorization to act as broker for the City if necessary. VI. REQUIRMENTS OF BROKER A. To obtain annually quotes from at least five (5) quality insurance companies or thirdparty administrators for health, dental, life, and disability benefit plans, flexible spending accounts, COBRA administration, and other insurance products and to compare and evaluate coverages and premiums. B. To bind, order, and deliver in a timely fashion the policies of coverage.
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C. To provide advice and expertise regarding the type of insurance requested in this RFP. D. To answer or to refer to the appropriate party, questions regarding coverage under these policies. E. To assist the City in procuring health, dental, life, and disability benefit plans, flexible spending accounts, COBRA administration, and other insurance products that best would serve the interest of the City of Keene by, among other things, interviewing potential plan providers, requesting and responding to proposals for the provision of health benefit plans and other insurance products, and negotiating the most reasonable price for such plans and products. F. To assist the City in implementing health, dental, life, and disability benefit plans, flexible spending accounts, COBRA administration, and other insurance products by, among other things, working in conjunction with the Human Resources Department of the City of Keene, to communicate benefits to employees, to enroll employees in health, dental, life, and disability benefit plans and other insurance products and to deliver and explain administrative forms and procedures to employees. G. To monitor plan performance, on a monthly basis, both from a financial perspective and from a level of benefit perspective, to recommend plan modification or refinement to maintain plan affordability to the City and its employees, to assist the City in rate development, to assist the City’s Health Insurance Review Committee (HIRC) and staff, and to address the long-term financial viability of these programs. H. To address periodically the City Council or Committee thereof, on general and specific issues related to the health, dental, life, and disability benefit plans or other insurance products provided by the City of Keene to its employees and retirees. I. To interface with plan providers to resolve any problems or issues necessary to preserve the interests of the City, to enhance the integrity of the health, dental, life, and disability benefit plans and other insurance products of the City of Keene, and to effect positive change in the policies and procedures of plan providers. J. To review and certify the validity, completeness, and accuracy of reports, documents, and contracts provided by plan providers and to act as an intermediary in resolving any issues related to the stated documents. VII. COMPENSATION It is anticipated that the chosen broker will be compensated by commission. When obtaining bids for each type of insurance covered by this RFP or any other products, the commission offered by each entity must be fully disclosed during review with the broker and the appropriate members of City staff. VIII. CONTENT OF PROPOSALS Each proposal shall include: A. Firm name, address, telephone, and date established. B. Names and addresses of owners or significant stockholders (greater than 15%). C. Names of office principals and their experience in providing plans of the type described in this RFP. D. The name of the account executive who will service the City’s account, including that individual’s experience and qualifications.
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E. A detailed list of insurance companies and third-party administrators that you can access and from which you can obtain quotes for health, dental, life, and disability benefit plans similar to current City policies. F. A discussion of how you will handle the procurement of insurance and a description of services that you will provide under this contract. G. A copy of all licensing required. H. Evidence of insurance coverage as required above. I. Description of other services that can be provided, and the cost of providing same. I. Fee Proposal stating how the selected broker will be compensated, by whom, and estimated amount. J. References of three (3) commercial clients that can be contacted regarding the quality and competency of your firm and the account executive. IX. SELECTION Proposals will be evaluated by the Human Resources Director, the Finance Director and other members of City staff as deemed appropriate. Oral presentations may be requested. The City administration intends to make a recommendation for contract award to the Finance, Organization and Personnel Committee of the City Council for consideration at its regular meeting scheduled for Thursday, September 11 2008, with Council action anticipated on Thursday, September 18, 2008. Selection criteria will include the fee proposal, the experience and qualifications of the firm and account executive assigned to the City’s account, the description of how the selected firm will handle the account, access to markets for health and life insurance, and overall clarity and responsiveness of the proposal to this RFP. The City Council will make the final selection based upon what is in the best interest of the City of Keene. X. ASSURANCES By responding to this RFP, each proposer assures the City that, if selected as a City broker, he or she will: A. Make a diligent effort to place all insurance requested by the City at the lowest possible price consistent with adequate breadth of coverage and stability of insurers. B. Advise the City of ways in which coverages proposed or provided differ from that currently in place. C. Broker agrees to disclose to the City all commissions he or she is eligible to receive or has received from insurers providing coverage to the City under this contract. D. Not assign or transfer the City’s account, or any portion of the City’s business, without the City’s prior written approval. E. Fully disclose to the City all quotes received from insurers, acting in the City’s best interest at all times. F. Comply with all provisions of this RFP and the broker’s proposal throughout the term of the contract.
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CITY OF KEENE NH - PROPOSAL SUBMISSION
Note: Please return this page with each copy of your submittal.
The undersigned, an authorized agent of his/her company, hereby certifies: ( ) ( ) ( ) ( ) familiarization with all terms, conditions, and specifications herein stated; vendor is qualified to perform work and services as included; That the pricing contained in this submittal is valid until ______________(date). Receipt of __________ (No.) addenda is hereby acknowledged.
Respectfully submitted ___________________________________________________________ Authorized Signature Date
Company Name
Printed Name of Individual Signing Proposal
Address 1
Title
Address 2
Telephone
City, State and Zip Code
Fax Number ______________________________________ E-Mail Address
Date Submitted
Person signing proposal must be a person in your company authorized to sign a contract with the City of Keene.
( )
We are not submitting a proposal for this project, however, please retain our company information listed above in your vendor files and continue to send us bids and proposals in the future. - For City Use Only -
( )
Contact data updated to include the above-captioned vendor information.
CITY OF KEENE NH
RFP No. 02-08-19
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