Specifications include, but are not limited to: The responsibilities and tasks of the selected firm shall include, but not be limited to, the following: A. Insurance Program Review and Analysis i. Conduct a comprehensive analysis of NOI’s insurance needs/gaps and provide recommendations for appropriate coverage types, limits, and enhancements to NOI’s risk financing structure and insurance programs supported by analytical analysis B. Insurance Placement and Market Analysis i. Demonstrate an understanding of NOI’s business model and mission to properly represent NOI in the Insurance marketplace. ii. Market all property and casualty insurance policies to identify suitable insurance carriers, negotiate terms, and secure competitive premiums. iii. Explain the basic structure of each policy, including coverages, exclusions, terms, analysis of coverage scope, cost and services, and other essential information. iv. Inform NOI of market conditions that may affect the its insurance programs and provide timely notice of pending rate, coverage or renewal concerns including, but not limited to significant changes in the financial status of insurers. v. Prepare appropriate comparative analysis and recommendation including, but not limited to cost, coverage, and service. vi. Monitor all insurance and other risk financing arrangements to assure adequacy in terms of cost and protection. C. Policy Management and Administration i. Review and advise NOI regarding insurance coverage and its applicability to current and prospective business operations. ii. Advise and assist in preparation of budget estimates for the upcoming policy year as directed by the CFO...
