RFP P Insurance Broker

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RFP 908-20P

Insurance Broker

Addendum 001 Issued October 5, 2020

1. Who is your current broker? IMA, Inc. – Colorado.

2. What is the current annual broker fee including the annual broker fee for the last five years?

This RFP is focused on broker qualifications to effectively represent the college’s

interests as detailed on pages 2-4 (Specifications) within the Request for Proposal. The information requested is not relevant to the process at this time.

3. Is this a one year contract or are there additional years allowed at the College's discretion?

One year contract with possible option to renew for 2-4 additional years.

4. We do appreciate the current summary of insurance, may we have the premiums by line of coverage as well?

5. How many hours of risk control do you currently utilize from your broker?

Currently utilize very few hours of risk control services. Current broker makes available as needed; no specific goals were included or required as part of the contract.

If significant need should arise, we could negotiate separately. 6. What are your top 3 Risk Management concerns?

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Risk of property or liability claims

7. What are the greatest challenges affecting Colorado Mountain College – both Covid related and non-Covid related?

Balancing online and in-person course activities in the COVID environment Long-term budget stability

8. Why is the RFP being issued at this time?

College procurement protocols require periodic RFPs. We calendar an insurance broker RFP every 3-5 years

9. How many employees does CMC have? Full time – 438, Part time – 1,645, FTE 1,377

10. Which key campus services are outsourced by CMC? For example, dining services, facilities, housekeeping, public safety, grounds.... And for those that are, does CMC follow a standard set of contractual obligations of the contractors, indemnification and insurance requirements?

Dining services

Limited public safety, grounds keeping and custodial Yes, CMC follows a standard set of contractual obligations

11. Would you be willing to provide copies of your policies, claims history, and statement of values?

12. We saw no mention in the RFP of Student Accident Insurance, Intercollegiate Sports coverage, or Student Health Insurance. Are any of those topics within the scope of this RFP?

No

13. How many brokers are participating in the RFP? Unknown

14. How long has the current broker been servicing CMC? Since 2015

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15. Who will make the final decision on the broker choice? Which areas of the College are represented by the decision making committee?

A selection committee with representation from Departments of Risk Management, Fiscal Affairs, Marketing, Financial Aid, and Faculty, will be making the final decision 16. Is there anything characterizing the current broker relationship that would prevent a change to another broker?

No

17. Our firm has local offices in Colorado as well as national resources. Is this acceptable for those providing advice and service to CMC?

Yes

18. Are there any difficulties or issues with your incumbent insurers? No

19. How is your broker compensated now?

Annual broker fee paid quarterly. Broker is prohibited from receiving commissions 20. What qualities are important in broker selection?

Extensive experience with higher ed and/or public entity clients Ability to provide prompt and professional customer service

See RFP for additional description of qualities that are important to us 21. Does CMC have any planned CAPEX / construction programs or projects?

The college does not have major construction projects planned in the near future 22. Are dormitories sprinklered?

Yes

23. Are there any environmental issues that CMC is addressing? No

24. What are the approximate number of PII, PHI records, and credit card records on file? Approximately 350,000

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25. Does the College have a written concussion management / protocol program in place? Ski team and cross-country team follow NCAA guidelines

26. Do athletes sign a release or assumption of risk waiver? Yes

27. Does the College utilize student drivers? No

28. Does CMC allow students to borrow vehicles? No

29. Is there a vehicle maintenance program in place? Yes

30. Does CMC have a light duty / return to work program? Yes

31. Does CMC purchase TRIA (terrorism) coverage? Yes

32. Does CMC purchase Fiduciary Liability coverage? No

33. Has CMC engaged any outside vendors to perform pre-breach preparedness work of tabletop exercises?

Yes, on occasion

34. What current loss control / prevention services is CMC receiving from carriers or brokers?

Current broker makes available as needed; no specific goals were included or required as part of the contract.

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35. What is CMC’s ERM framework?

CMC utilizes traditional risk management approach

36. Does the College maintain a risk management committee? Yes

37. Are there any risk or insurance topics that CMC would like assistance delivering to any campus departments?

Not specifically. Expectation is that broker has experience and expertise to address risks that higher ed clients face

38. Does CMC have a safety committee and how often does it meet?

Each campus has a safety committee. Meeting frequency varies by campus needs. 39. Are security guards armed or unarmed?

CMC contracts for very limited, unarmed security services at several campuses 40. Please provide the current broker compensation structure. Is it fee-based or commission?

See question #19

41. The RFP designates this as a one-year contract. Would you entertain a multi-year agreement?

See question #3

42. Who is the incumbent broker and what is the history of that relationship? See questions #1 and #14

43. Provide five-year loss history.

44. Are there any current issues or challenges with either your current insurers or service providers?

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45. What are the top 3 current concerns for risk and insurance? See question #6

46. Are control services being provided by the insurance carriers or broker? See question #34

47. If, loss control services are being provided by the broker are these services included in current fee or charged hourly? If hourly, how many hours do you feel are needed annually?

See question #5 Included in broker fee

48. What is your greatest concern regarding a possible broker change? No concerns

49. Relationship - How does your Department prefer to work with a broker (i.e. single point of contact, expertise touch points with entire team, etc.)?

The college views the relationship with its insurance broker as a strong and valued partnership that we seek to develop and grow over the term. With this in mind, we prefer to work directly with expertise touch points within the broker’s team

50. Do you currently receive analytical or developed insight to assist you in establishing appropriateness of limits / building values for the most efficient use of your capital?

We expect our broker to have and share insight that will assist with decisions related to coverage and limits

51. How effective have your COVID mitigation plans been? Were there any unanticipated challenges when opening this fall?

Our mitigation plans have proven effective. To date, the only unanticipated challenge has been the ever-changing information related to COVID testing; availability, reliability, etc.

52. Is CMC involved in community philanthropy or fundraising efforts?

Yes, Colorado Mountain College Foundation, Inc. Is also a named insured in our insurance program

53. Will Loss/Claims History be made available to competing brokers?

interests as detailed on pages 2-4 (Specifications) within the Request for Proposal. The information requested is not relevant to the process at this time

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54. Can you provide brief details of the drone usage?

Limited use for media and business courses. We currently own 3

55. What exposures for the College cause you the greatest concern? See question #6

56. Does the College have any coverage for pollution or environmental exposures? The college does not have a stand-alone pollution liability policy

57. Will you be providing 4-5 years of loss runs (claims history)?

58. Will you be providing a Statement of Values (SOV) for the Property coverage that lists the scheduled property, Total Insurable Values (TIV), that also lists the C.O.P.E. (Construction. Occupancy. Protection. Exposure) information?

59. Are you looking for actual quotes from competing insurance carriers due by 10/12/2020, or just broker services qualifications by 10/12/2020, or both?

Only broker services qualifications. Broker will be hired as a consultant with placing insurance coverage included in their scope of work

Related note: CMC’s insurance program renews is 4/1, with the exception of workers’ comp which is 7/1

60. Does the Hanover educators legal liability coverage form provide:

• _{non monetary defense cost sub limit of $250,000} • defense sub limit for breach of contract claims

• _{FSLA defense cost sub limit}

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