1. Proposals will be accepted only from insurance companies having a policyholder’s rating and financial rating acceptable to the City of St. Joseph. In the case of the Surplus Line Market, it must meet all qualifications of the State Surplus Line Law or be a recognized specialist in insuring public transit systems. The City of St. Joseph prefers policies with a Best’s Rating of A- or above. Unrated companies or companies with a rating of B+ may be acceptable; however, proposers of such companies must provide details of financial condition and reinsurance arrangements. 2. The City of St. Joseph requires policies with a 120-day notice of cancellation or material change in coverage. 3. An insurance binder must be issued to the City prior to the effective date of the policy. All complete policies must be delivered within thirty (30) days of the effective date of the policy. 4. This request for proposal does not commit the City to pay any cost incurred in preparation of proposals to this request or to procure or contract for services. All Proposals shall be deemed final, conclusive, and irrevocable. No Proposal shall be subject to correction or amendment for any error or miscalculation. No Proposal shall be withdrawn without the consent of the city. The City of St. Joseph may require any proposer selected to participate in negotiations and to submit additional price, technical or other revisions to their proposal as may result from negotiations. Neither the commencement nor cessation of negotiations shall constitute rejection of the Proposal or a counteroffer on the part of the City. The City of St. Joseph reserves the right to award the insurance coverage to its best advantage. The City of St. Joseph reserves the right to reject any and all proposals or to waive technical defects as it may deem desirable. 5. No oral interpretation will be made to any Proposer as to the meaning of the RFP. Any oral communication will be considered unofficial and non-binding to the City. Requests for interpretation must be made in writing to the reference contact listed in this document. 6. The City may accept one part or type of coverage, or any combination thereof, of any Proposal unless Proposer specifically qualifies its offer by stating that the Proposal must be taken as a whole. 7. The Proposer certifies that it has no business or personal relationship with any companies or persons that could be considered as a conflict of interest or potential conflict of interest to the City.
