[RFP NO.: B2024-03] For the College Insurance Policy Renewal (Extended Date)

GENERAL PURPOSE: The College of Micronesia-FSM is soliciting for proposals from licensed and qualified insurance company, or underwriter to provide multi-year policies for three (3) years on desired ranges of insurance coverages with competitive premiums and contract provisions of endorsements and applicable schedules for risks and services management on various policies listed in this RFP.

SCOPE OF SERVICES: All prospective bidders must include sample policy with yearly Premium schedules to demonstrate the ability to provide high quality services at competitive premium costs for each policy separately. The bidders are free to submit proposal for any or all of the following insurance policies:

1. Workmen’s Compensation/Employer’s Liability Policy
2. Building & Contents: Business Owners policy
3. Business/Commercial Auto Policy
4. Commercial Bond Policy
5. Commercial General Liability

SUBMISSION DEADLINE: All Proposals must be submitted by Tuesday December 19, 2023, no later than 5:00 PM Pohnpei time.

CONTACT INFORMATION: All Interested Bidders are encouraged to contact the person below for details of the RFP, including required schedule listing for each policy. All proposals, including all communications/inquiries must be submitted, or inquired directly to the contact person. Any deviance may cause for disqualification, or proposal rejection.

TERMS/CONDITIONS: The bidders and the owner have the option to negotiate in determining the clauses, exclusions,and any applicable coverages, including deductables, liability schedules, and any other contract provisions.

REVIEW RIGHTS: The College of Micronesia-FSM reserves the right to accept or reject any or all responses to this RFP and to enter into discussions, or negotiations with one, or multiple as many bidders at the same time, if such action is in the best interest of the COM-FSM.