Group Errors & Omissions Insurance - Iowa Real Estate Commission

The State of Iowa seeks a qualified insurance carrier to provide and administer a statewide Group Errors & Omissions (E&O) professional liability insurance program for all active Iowa‑licensed real‑estate professionals. The contractor will issue the master policy, handle enrollment, billing, premium collection, claims processing, reporting, and provide ongoing customer service and educational outreach. The contract is initially for two years with up to four one‑year renewal options (maximum six‑year term). • Minimum coverage: $100,000 per claim / $100,000 aggregate; $0 deductible; non‑cancelable for individual policies. • Administrative duties include maintaining an electronic licensee database, issuing certificates, providing proof of insurance, handling claims, and delivering regular performance reports. • Contractor must meet insurance‑carrier qualifications (A.M. Best A‑ or better, Iowa Division of Insurance approval) and maintain required self‑insurance limits. • Payment terms are Net 60; pricing is submitted in a separate Cost Proposal with a locked‑in three‑year premium rate. • The solicitation includes mandatory technical specifications, a cost‑proposal evaluation, and a possible presentation/interview round.