My Florida Marketplace #27-84131514-ITB

Florida Solicits Comprehensive Government Crime Insurance for State Agencies

Florida's Department of Management Services is seeking bids for a comprehensive Government Crime Insurance contract to cover state agencies, universities, and eligible users under a single master policy. - Government Buyer: - Florida Department of Management Services (DMS), Division of State Purchasing - Florida Department of Commerce (for some covered entities) - OEMs and Vendors: - No specific OEMs or insurers named; open to all qualified insurance carriers and brokers licensed in Florida - Products/Services Requested: - Government Crime Insurance Policy covering: - Employee Theft (blanket and excess) - Faithful Performance of Duty - Forgery or Alteration - Inside the Premises (Theft of Money and Securities, Robbery or Safe Burglary) - Outside the Premises - Computer and Funds Transfer Fraud - Money Orders and Counterfeit Money - Coverage limits and deductibles specified for each insuring agreement - Named insureds may request additional coverage limits - Annual premium invoicing; pricing fixed for each policy period - Unique/Notable Requirements: - Broker must hold a valid Florida insurance license - Policy administration, claims handling, and customer service required - Contract awarded to lowest responsive and responsible bidder; Department reserves right to make no award - Strict compliance with Florida statutes and administrative codes - Policy must be provided by an insurer accessible to the State (admitted, non-admitted, reciprocal, or risk management programs) - Effective date aligns with expiration of current policy to prevent coverage lapse - Contract term up to five years, with annual renewal options - Average annual spend is approximately $149,255 - Coverage limits and deductibles vary by agency, location, and insuring agreement; detailed schedules provided in attachments.

Description

The Department of Management Services (DMS) is issuing an Invitation to Bid (ITB) to establish a contract for Government Crime Insurance to replace the current policy. The contract aims to provide coverage for various state agencies and eligible users under a single insurance policy with specified coverage limits and terms. The Department intends to make a single award to the lowest responsive and responsible bidder but reserves the right to make no award if deemed in the State's best interest. The insurance policy will have an effective date of January 1, 2027, and includes multiple insuring agreements such as Employee Theft, Forgery or Alteration, and coverage for money and securities inside and outside premises.

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