Invitation to Negotiate (ITN) - Florida State Board of Administration

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e. Management Reporting Capability – The capability of supporting managementreporting, including financial statements, is essential to FHCF management. Theseneeds will encompass the ability to combine contract, data call, loss data, and otherinformation in reporting on the FHCF’s status. Proper audit trails should be part ofall processing and reporting functions. Quick response on special inquiry and ad hocreporting requests from the SBA is essential.f. Administration of Reimbursement Contract Execution and Data Call Submissions –The Respondent will help develop and update appropriate reimbursement contractand data call language, mail documents to participating insurers, track the submissionand return of contract forms and data call information, follow up on any incompleteinformation received or delinquencies, and regularly report the status of contractexecution and data call submissions to the SBA. The Respondent will coordinate theapproval process and receipt of information from companies requesting exemptionfrom the FHCF.g. Renewal Processing – Issuance of contract renewals, including associated premiumcomputation, using existing or new premium formulas, as well as incorporation ofendorsements or amendments, must be accomplished in a timely and accuratemanner.h. Exposure Data Processing – Each participating company is required to submitexposure data annually by September 1. The timely and accurate processing of thisdata is critical to the premium calculations, loss reimbursements and exposureexaminations. Before the September 1 data submission is filed, participatingcompanies often submit information related to the data submission (e.g., constructioncode mappings) seeking the FHCF’s approval of their reporting methods. Once thedata is submitted and a premium is calculated, the final premium billing is sent tocompanies in November. Premium calculations for purposes of loss reimbursementsneed to be completed as quickly as possible to avoid delays in reimbursing acompany’s losses. The FHCF’s exposure examinations begin October 1 and thedetails from the data submission are used in those examinations. The Respondentmust demonstrate the ability to process this large volume of data to meet therequirements of the FHCF. Also, the Respondent must demonstrate the steps thatwould be taken to ensure the data is processed accurately. Also, list steps theRespondent would take to ensure participants get the necessary approvals neededprior to the data submission on September 1. The Respondent should demonstrate thecapability to continue to process and track resubmissions of data throughout thecontract year and the ability to provide guidance to participants on reporting issuesthat occur throughout the year. The Respondent must demonstrate whether itcurrently has the capabilities, or could have in the future, to develop and maintain anonline system for companies to electronically file data submissions. The Respondentwould also be required to identify unusual trends in aggregate exposure data reportedfrom year to year in an attempt to identify any potential reporting errors.24
i. Claims Processing – The FHCF must be able to accurately calculate reimbursementsto participants as quickly as possible. The Respondent must have the capability toprocess a large volume of loss reports to ensure the accuracy and timeliness ofreimbursements. This will involve verification of insurer retentions, the handling ofrequests for advances for certain insurers, protection against overpayment, putting inplace validation/verification processes to determine reasonableness of reimbursementrequests, reviewing Detailed Claims Listings as required by the SBA, etc. TheRespondent must demonstrate the capacity to develop and maintain an online systemfor participants to report claims. The response needs to include how the systemwould be set up, including the measures taken to secure the data. Also, theRespondent must indicate how the system would be maintained. Completely describeyour claims handling process and your organization's capabilities to respond to alarge hurricane loss or multiple hurricane losses. How quickly could yourorganization respond and what type of additional resources (personnel and other)would be needed?j. Client Communications – The ability to handle complaints, inquiries, or troubleshootissues raised by participating insurers is critical to a smooth administrative process.Florida insurers must be able to easily access the FHCF administrative serviceprovider. The respondent must have the capability to produce and maintain aninternet website, under the direction of the SBA. The Respondent also, incoordination with the SBA, must produce an annual Member Handbook, as well aswork with the SBA on its development and updating of the frequently askedquestions annually. The Respondent must be available to participate in FHCFmeetings such as rule workshops and hearings, Advisory Council meetings,participating insurer workshops, and other related events. The Respondent will beresponsible for assisting with organizing and conducting an annual participatinginsurers workshop. Typically the workshop consists of one and one-half days with aneducational format and approximate attendance of 160 people. The Respondent willcoordinate with FHCF staff in planning the program, development of the agenda, andinviting appropriate speakers and/or panel participants. Describe any events you havehosted for educating customers or clients. This service should be included in theproposed fees; however, do not indicate any fee information here.k. FHCF Examination Programs – The Respondent must also support the FHCF’sexposure and loss examination programs by producing reports as specified by theSBA, which may include, but is not limited to, summary memos of individualcompany submissions and resubmissions, tracking, reviewing, and reporting onresubmissions, and assisting with problems that arise during the examination process,as well as producing reports and documentation related to advances and lossreimbursements. The Respondent must also be able to review corrected loss reportsas directed by the SBA after an examination has been completed. As requested by theFHCF, the Respondent is also required to attend examination training and planningmeetings. Quick response on special inquiry and ad hoc reporting requests from theSBA is essential.25
Page 3 and 4: SECTION I - INTRODUCTION AND PURPOS
Page 6 and 7: 4. Must have a minimum of five year
Page 8 and 9: SECTION III - REQUIRED INFORMATIONT
Page 10 and 11: of time (e.g., one year, two years,
Page 12 and 13: The SBA reserves the right to accep
Page 14 and 15: any contract with any Respondent, r
Page 16 and 17: 4. Joint proposals are not permitte
Page 18 and 19: SECTION V - EVALUATION CRITERIACrit
Page 20 and 21: SECTION VI - TIMELINEThe timeline o
Page 22 and 23: disabled veteran businesses or othe
Page 26 and 27: F. Approachl. Commutation of Losses
Page 28 and 29: Appendix II: Services Questionnaire
Page 30 and 31: 3. Evaluate and recommend potential
Page 32 and 33: Appendix III: Service Requirements

Invitation to Negotiate (ITN) - Florida State Board of Administration

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