Specialty Vehicle Insurance

The State of Arkansas, Office of State Procurement, is seeking bids for specialty vehicle insurance. The contract will be for an initial term of one year, with the possibility of renewal for up to six additional one-year terms. The successful bidder will be required to provide coverage for various vehicles and equipment, including armored trucks, tactical vehicles, and communication systems. The bidder must have a dedicated agent in position to assist the agency, be knowledgeable of all aspects of the insurance coverage, and be licensed to do business in the State of Arkansas. • The contract will require the provision of annual coverage and price negotiations with insurers to secure the best terms and provisions for all coverage. • The contractor shall provide an annual evaluation of the commitment and financial stability of the insurance company to ensure compliance with all IFB specifications. • The contractor shall review policies for accuracy and correctness in advance of policy issue and delivery to minimize the need for corrections by endorsement. • The contractor shall deliver one electronic copy and one paper copy of each policy and all endorsements to the Department of Public Safety. • The contractor shall negotiate all additional policy form changes with the insurance company as requested and approved by the Department of Public Safety.