Insurance Brokerage

Description

Maintaining an insurance brokering and insurance advisory service agreement is a crucial aspect of the University’s insurance provisions. The supplier will provide the following services: 1. Manage the placement of the University’s insurance programme 2. Prepare and present renewal information on behalf of the University to the insurance market, including the production of the University’s claims experience for all policies, as required 3. Actively source and negotiate with the insurance market to achieve the most competitive premiums 4. Provide a renewal report detailing results of negotiations and make recommendations on cover improvement if required 5. Share tender documents and evidence of insurers experience with the University if requested to do so, and always declare with full transparency all remuneration and commissions received by virtue of placing the contract for the University 6. Provide the University with a copy of the risk profile presented to the insurance market 7. Check insurance policy wording (i.e. to ensure no fundamental changes to existing cover) and provide the University with copies of all policy documents and a register of policy summaries 8. Collect insurance premiums on behalf of the insurers, check that the amount being charged is correct, and invoice the University for each Policy 9. Provide advice on the extent of policy coverage 10. Provide copies of all policy updates 11. Provide advice and place cover (if necessary) to ensure the protection of both the University and staff whilst involved in work/project/research overseas. Sometimes cover is required at very short notice and the successful bidder must be able to accommodate any request 12. Place cover for Clinical Trials at short notice 13. Place specialist, project specific and temporary covers as required out with the main University Insurance Programme as required 14. Provide assistance to the University (a) to optimise the relationship, policies and policy wordings it has with any direct insurer it uses and (b) in the event of a dispute between the University and its direct insurer on policy wording, extensions of cover, etc. 15. Provide the University with information and advice in respect of legislative issues relevant to the University/Higher Education sector in connection with the University’s insurance policies and objectives 16. Resolve with the insurers, on behalf of the University, any problems that might arise from the service provided by the insurers 17. Assist with claims if required by the University and discuss circumstances/incidents that the University considers may result in a claim 18. Provide general insurance advice including market developments 19. Hold regular meetings at the request of the University’s Insurance Manager (as well as ad hoc meetings as required) 20. Where it is reasonable to expect, assistance and advice with additional declaration of information to meet the disclosure and other requirements of Insurance Act 2015 to ensure compliance with policy terms and conditions by the University 21. Be proactive in communicating new or innovative insurance practices that will assist the University with business processes or result in savings in premiums 22. Analyse statistics and identify trends to assist in loss prevention and the management of risk and regularly review and advise on the University’s insurance risk register 23. Provide emergency out of hours assistance 24. All administration and communication fees and travel costs to meetings mentioned in the specification of requirements are to be included in the overall pricing as quoted in the Pricing Schedule 25. Continue all the above mentioned services after the end of the contract period in so far as they relate to claims made by the University against policies Brokered by the successful bidder