As part of our commitment to building confidence together, Gallagher presented a series of thought leadership webinars and resources to help you navigate emerging challenges of bidding on insurance coverage for public entities and K-12 schools. Our panel of industry experts explored the RFP bid process and how to create a fair and transparent process for the buyer and the insurance broker.

Register to listen to our on-demand webinars that focus on the purchasing process for government organizations, public entities and K-12 school insurance. You can also find examples of our RFP and RFQ examples on the ON24 event page.

Bidding on Insurance Coverage for Public Entities and K-12 Schools

Why do public entities and K-12 schools go out to bid for insurance coverage and brokerage services?

Purchasing procedures for government entities, public entities and K-12 schools are usually prescribed by state law. The intention is to create a fair, equitable and accessible process that will result in the best possible outcome for the use of public resources. The bid process may take different forms – as a Request for Proposal (RFP), Request for Qualifications (RFQ), Request for Information (RFI) or Invitation to Bid (ITB). The purchase of public sector and K-12 education insurance, proposals for risk financing structures and insurance broker services could all be reviewed through a bid process.

Ideally, the bid process allows the buyer to "test the market" and provide assurance that the organization has the best service and insurance coverage for the best price. The process is designed to be fair to all respondents and award the winning bid based upon clear, defined criteria. The bid process demonstrates that an entity's risk financing arrangements and brokerage services are provided by reputable insurers and insurance professionals, ethically proper, free of political influence, economically favorable and serve the public interest.

Our symposium resources cover a range of bid purchasing topics intended to help your organization make informed decisions to face the future with confidence.