Insurance Brokerage Services RFP TX2026-011

UNIVERSITY OF THE VIRGIN ISLANDS
REQUEST FOR PROPOSALS (RFP)
RFP TX2026-011
INSURANCE BROKERAGE SERVICES
Issue Date: 6/5/2026
Proposal Due Date: 7/1/2026

1. INTRODUCTION

The University of the Virgin Islands (UVI) invites qualified firms to submit proposals to provide comprehensive insurance brokerage and risk management advisory services for the University.  The selected broker will act as the University’s insurance advisor and representative in the insurance marketplace, assisting with establishing insured amounts, policy placement, risk evaluation, claims advisory, and strategic insurance program development.

The University seeks a broker with extensive experience serving higher education institutions or large public sector organizations, capable of advising on complex insurance programs and operating in geographically dispersed locations.

2. UNIVERSITY BACKGROUND

The University of the Virgin Islands is a public historically black university (HBCU) with campuses located on St. Croix (Albert A. Sheen Campus) and St. Thomas (Orville E. Kean Campus).

UVI operates a wide range of academic, research, housing, and public service facilities including:

• • Academic buildings
  • Student housing
  • Research laboratories
  • Agricultural facilities
  • Marine and environmental research programs
  • Athletic facilities
  • Administrative offices

The University maintains multiple insurance policies to protect its assets, operations, employees, students, and visitors.

3. OBJECTIVE

The objective of this RFP is to select a qualified Insurance Broker of Record to:

• • Provide professional brokerage services
  • Market insurance programs competitively
  • Identify competitive insurance markets
  • Advise on risk management strategies
  • Assist with claims coordination
  • Ensure adequate coverage at competitive pricing

4. SCOPE OF SERVICES

The selected broker will provide services including, but not limited to:

4.1 Insurance Program Review

• • Evaluate the University’s current insurance program and exposure
  • Review existing policies, endorsements, limits, deductibles, and coverage gaps
  • Recommend improvements to coverage structure and limits

4.2 Insurance Market Placement

• • Market insurance policies to qualified carriers and markets
  • Obtain competitive proposals from reputable insurers
  • Present coverage options and pricing comparisons
  • Assist in negotiating favorable terms and conditions

4.3 Coverage Types

The broker must be capable of placing and managing policies including but not limited to:

• • Property Insurance
  • General Liability
  • Automobile Liability
  • Professional Liability
  • Cyber Liability
  • Directors & Officers Liability
  • Employment Practices Liability
  • Builder’s Risk
  • Environmental Liability
  • Excess/Umbrella Liability

4.4 Risk Management Advisory

Provide advisory services related to:

• • Enterprise risk management
  • Risk mitigation measures and strategies
  • Contractual risk transfer
  • Insurance requirements for vendors and contractors
  • Safety and loss prevention programs

4.5 Claims Support

• • Assist the University in reporting and managing claims
  • Coordinate with insurers during the claims process
  • Provide claims tracking and status reporting
  • Advocate for the University in claim resolution

4.6 Annual Insurance Renewal

• • Conduct annual renewal marketing
  • Provide renewal strategy recommendations
  • Deliver renewal reports summarizing coverage and pricing options

4.7 Reporting

Provide regular reporting including:

• • Insurance program summaries
  • Market analysis
  • Claims activity reports
  • Risk exposure updates

5. CONTRACT TERM

The anticipated contract term will be:
Three (3) years, with the option for two (2) additional one-year renewals, subject to satisfactory performance and mutual agreement.

6. PROPOSAL REQUIREMENTS

Proposals must include the following information:

6.1 Firm Qualifications

• • Firm overview and history
  • Years of experience in insurance brokerage
  • Experience with universities or public institutions
  • Organizational structure and staffing

6.2 Relevant Experience

Provide at least three (3) references for clients of similar size or complexity.

Include:

• • Organization name
  • Contact person
  • Description of services provided
  • Length of engagement

6.3 Key Personnel

Provide resumes and roles for personnel assigned to the account.

6.4 Service Approach

Describe the firm’s approach to:

• • Insurance placement
  • Risk management advisory
  • Claims support
  • Renewal strategy

6.5 Compensation Structure

Proposers must disclose their compensation method, including:

• • Commission-based compensation
  • Fee-based compensation
  • Any other remuneration received from insurers

All compensation must be fully transparent.

7. EVALUATION CRITERIA

Proposals will be evaluated using the following criteria:

8. PROPOSAL SUBMISSION

Proposals must be submitted electronically to:

Procurement Office

bids@uvi.edu

Subject Line: RFP TX2026-011 – INSURANCE BROKERAGE SERVICES

Submissions must include:

• • • Technical Proposal
    • Compensation Disclosure
    • References

Late submissions will not be considered.

9. QUESTIONS

All questions regarding this RFP must be submitted in writing to:

Taylor Gilmore, Procurement Office
University of the Virgin Islands
Email: bids@uvi.edu

Responses to questions will be distributed to all known proposers.

10. GENERAL TERMS AND CONDITIONS

The selected firm will be required to comply with all applicable University policies and contractual provisions including:

• • Insurance requirements
  • Indemnification provisions
  • Compliance with applicable federal and territorial laws
  • Non-discrimination requirements
  • Conflict of interest disclosure

The University reserves the right to:

• • Reject any or all proposals
  • Request clarifications or additional information
  • Cancel the solicitation at any time
  • Negotiate with the selected proposer

11. LOCAL VENDOR PREFERENCE

Consistent with UVI procurement policies, preference may be given to qualified vendors located in the U.S. Virgin Islands, provided that pricing and qualifications are competitive.