Risk Management Insurance Broker Services
Overview
Fit Score
Settle Intelligence
Settle helps teams find, evaluate, and respond to public RFPs. We continuously surface new opportunities, score them against your company strengths, and draft proposal responses so you can focus on the work that wins business.
SUMMARY
KEY REQUIREMENTS
BUDGET
EstimateIssuing Agency
Rhode Island Department of Administration, Division of Purchases
Organization overview and procurement intelligence available on paid plans.
DESCRIPTION
The government authority in Rhode Island is seeking a qualified vendor to provide risk management insurance broker services. The selected broker will offer expert advice and serve as the State’s insurance broker, responsible for the comprehensive design, implementation, and administration of risk financing programs using traditional insurance methods.
The scope of services includes marketing, managing, and servicing existing insurance coverages, as well as any coverages added in the future. The broker will present competitive quotes and recommendations, place coverage, and provide annual servicing. They will also advise on strategies to protect state assets from catastrophic losses, including recommending and managing risk transfer methods, conducting catastrophic modelling, and implementing loss control measures.
Additional responsibilities involve providing ongoing professional support and consulting, reviewing and evaluating the State’s insurance programs, identifying risk financing and loss prevention opportunities, and developing and marketing cost-effective insurance solutions. The broker is also expected to maintain competitive market interest and solicit coverage options that meet the State’s insurance requirements.
Source attribution
This Settle analysis is based on the issuing organization’s public RFP listing.