A. Vendor shall be responsible for assisting LRWRA with the procurement of property and boiler insurance, to include equipment insurance, equipment rental insurance, and other insurance needs. Vendor shall be responsible for providing a full range of services that at a minimum include the following • selection and recommendation of insurance policies and determination of best value and coverage • identification of new and emerging risks • review and analysis of LRWRA’s existing insurance coverage • identification of potential lines of coverage or coverage enhancement to improve LRWRA’s insurance program • analysis of past and current claim and loss history and advise LRWRA of significant implications to LRWRA’s insurance program • maintenance of appropriate coverage • accurate reporting to LRWRA • assistance in compiling underwriting data and specifications for renewal negotiations • availability to LRWRA for day-to-day issues concerning coverages • monitoring and advising LRWRA of changes in insurance markets and legislation at the federal, state, and local (Central Arkansas) levels. • preparation of all Evidence of Property Insurance Certificates as needed upon request from LRWRA B. Vendor must service the existing policies by delivering the contract, reviewing each coverage form and processing policy changes in a timely manner, as determined by LRWRA. C. Vendor must attend meetings as scheduled by LRWRA to discuss loss control issues, exposure changes and general administrative matters. Meetings will be held in Little Rock at an LRWRA facility. Vendor may attend meetings virtually. All travel and/or associated expenses incurred by the vendor must be paid by the vendor. D. Vendor must contact providers of coverage directly on LRWRA’s behalf to reconcile contract issues or to serve as a representative of LRWRA in negotiating contract details with providers. E. Vendor must meet or exceed all requirements and specifications as set forth in this solicitation and/or as negotiated. LRWRA shall have the right to amend specifications and requirements, to add or remove other types of insurance, and to add or remove any services offered by the vendor under the scope of this contract, based on revisions in federal, state, and local regulations, or as determined to be in the best interest of LRWRA. Vendor and LRWRA shall come to a written agreement regarding negotiated cost for such changes.
