Summary of Specifications:
DIRECTOR’S & OFFICERS LIABILITY INSURANCE and GENERAL LIABILITY INSURANCE GENESEE TOBACCO ASSET SECURITIZATION CORP.(GTASC)
GENERAL INFORMATION - SUBMISSION OF PROPOSALS
You are invited to submit proposals for insurance coverages as outlined in these specifications to become effective October 12, 2014 for the Director’s and Officers Liability and the General Liability Insurance. This is not an open competitive bidding activity, but a specific request for proposals.
Proposals must be submitted in the format provided herein, in a sealed envelope clearly marked “Director’s and Officers Liability Insurance and General Liability, RFP 2014-108, to be received in the Purchasing Office, 15 Main Street, Batavia, NY 14020, prior to 2:00 p.m. on Friday, August 15, 2014.
The Insurance Company that you are using in your proposal must meet the following qualifications:
a. Shall be rated “A” or higher and graded at least VIII by BEST as to financial size. (The above ratings may refer to a Group and the overall Group rating will be applicable to any company which is part of the Group). This condition may be waived at the option of GTASC.
b. Shall be an admitted carrier in the State of New York.
c. Shall have adequate claims handling facilities for all locations where the insured operates. It is requested that information be provided which addresses claim office locations, company staff, and use of independent adjustors.
d. Shall allow the insured to review actual claim files when requested.
e. The Insurance Company’s claims personnel shall discuss claim payments of sizable amounts with the insured, prior to payment.
The agencies submitting proposals shall provide information on the extent of their draft authority with the Insurance Company providing a proposal.
