Financial Data/RFP

RFP for Insurance Coverage - Please read below

The Board of Education of Colona SD #190 will consider proposals for the Property/Casualty, Workers' Compensations, School Board Legal Liability, Student Accident, Crisis Event, and Treasurer's Bond of the school district.  Proposals are to be submitted on the described forms in a large sealed envelope clearly marked "Property/Casualty Coverage Proposal."  They must be submitted to the office of the Superintendent no later than June 1, 2022 at 1:00 p.m.  Any proposal received after that time will be returned unopened to the sender.  

We are not seeking bids for Cyber Liability at this time.  Cyber Liability coverage is in place with a different effective date. 

Proposals are to be submitted on the basis of the specifications attached and on the forms provided.  The specifications, which follow, are to be considered a minimum and strictly adhered to.  

Liability coverage indicated in the specifications should be provided on an occurrence basis.  Any exception to this requirement shall be clearly noted.  

Although cost will be an important factor in awarding the Property/Casualty coverage, the Board reserves the right to use other subjective criteria and will award the insurance or coverage to the agent, broker or company, which, in the opinion of the Board, will serve the best interests of the District even though that agent, broker or company may may not have submitted the lowest bid.  The Board reserves the right to waive any informalities or irregularities in any proposal and to reject any or all quotations.  

All proposals will be opened on the day and time stated above as the time by which proposals must be submitted, but will not be read aloud.  Persons submitting proposals may attend, and will receive a list of agents and companies who have submitted bids.  There will be no discussions of any proposal or bid at that time.  

Appointments for inspections must be obtained from the Superintendent of Schools.  

All carriers proposed must be licensed to do business in the State of Illinois and must maintain an office in the state.  The insurer or reinsurer must carry a "Best's" rating of "A" or better or be able to show sufficient strengths in surplus ratios.  The Board reserves the right to reject a carrier, which, in its opinion, does not meet a satisfactory standard or financial strength and stability.  

Any company submitting a bid may be a stock company, a non-assessable mutual, or an intergovernmental cooperative authorized by the Illinois Constitution of 1970, Article VII, Subsection 10 and Section 6 of the Intergovernmental Cooperative Act.  

Each broker or agent submitting a proposal must carry a minimum of $1,000,000 Errors and Omissions Insurance.  The successful bidder must furnish a Certificate of Insurance.  

Any proposal submitted to the Board shall state in writing that it is firm and will not be withdrawn for a period of sixty days from June 1, 2022, and will not be revised in any manner (except as requested by the Board) if the contract is awarded to the proposer.  Amounts quoted will be maintained over the policy or coverage period, provided that the exposures remain the same.  

Coverage becomes effective July 1, 2022.  

Proposals must contain in writing all the terms and conditions of the offer being made.  Verbal representations made before or after proposals submitted will not be considered unless they were made in answer to questions asked by the Board or its representatives.  

All proposers will fully comply with Public Act 85-1295 (SB2002).  This Act established criminal offenses relating to the interference with public contracts.  All proposals shall include a written certification by the proposer that it is not barred from contracting with any State or Local government as a result of a violation of either Section 33E-3 or Section 33E-4 of the Criminal code of 1961, as amended by Public Act 85-1295, effective January 1, 1989.  

The information furnished or disclosed hereunder shall be deemed the property of the school district.  The underwriter shall have an obligation to keep such information confidential unless made public.  

Any additional questions or requests for information should be directed to 

Dr. Carl Johnson, Superintendent

 

Instructions and General Conditions for Insurance Proposals