Specifications include, but are not limited to: The purpose of this request for proposal is to solicit and select an insurance broker(s) and their respective underwriters to act as the representative of HOME, its subsidiaries, and limited partnerships, for current and future business insurance coverage to include: property, commercial liability, umbrella, employment practices, public officials, employee dishonesty, pollution, flood, wind (if applicable), and any other coverages not identified. This solicitation is issued to ensure that all properties are adequately covered for insurance, regardless of the program. This RFP includes pricing proposals for policies commencing on January 1, 2025. Due to the sensitive nature of the information provided herewith, and to protect the integrity of this process, interested insurance brokers wishing to participate in this solicitation process will be asked to fill-out and sign the attached Non-Disclosure Agreement (NDA). Participation in this solicitation is contingent on HOME’s receipt of this NDA. The selected Broker(s), if selected as a result of this solicitation, shall affect the most advantageous placement of insurance coverage, including but not limited to the terms and conditions of coverage, continuity, and cost. In addition, the Broker(s) must be capable of providing a full range of value-added services, including but not limited to those outlined in the Scope of Services section. Listed in the attached addendum are the current HOME and affiliates insurance coverage requirements which may be subject to change as buildings transition from construction finance to permanent financing at completion of project. Additional services required: a. Broker will design specifications and market the properties when instructed to do so by HOME, including assisting HOME in the completion of all applications, documents and gathering data which may be requested by insurance companies. b. Broker will analyze proposals received from various insurance carriers and other parties, negotiate changes for the benefit of HOME, and verify the reasonableness of the price for the coverage provided. c. Broker will provide HOME with a summary of various coverage options, including but not limited to limits, coverage, retention levels, conditions, and payment options. d. Broker will make recommendations and continuous evaluations/analysis as to the most advantageous program which provides the highest level of coverage at the best possible price to meet HOME’s needs and objectives. e. Broker will represent HOME in all negotiations with insurers, underwriters, and other parties with regard to all insurance coverage.
