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City of Indianapolis·Indiana

Property Insurance Brokerage Services

Closes 7/17/2026$150k – $500kRequest for Proposal
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Description

The City of Indianapolis Office of the Controller is seeking a qualified insurance brokerage firm to provide comprehensive property insurance brokerage services. The contractor will be responsible for evaluating the city’s insurance needs, sourcing coverage options, negotiating terms, and managing policy administration to ensure optimal risk protection and cost‑effectiveness. This effort supports the city’s overall risk management strategy and requires expertise in commercial property insurance markets. • Conduct a full assessment of the city’s property insurance exposures and needs. • Identify, solicit, and compare proposals from multiple insurance carriers. • Negotiate policy terms, premiums, and endorsements on behalf of the city. • Provide ongoing policy administration, claims assistance, and renewal management. • Deliver regular reporting and recommendations to the Office of the Controller on insurance market trends and cost‑saving opportunities.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Adrienne Hines(Purchasing Agent)

[email protected]

(317) 327-4975

Key dates

Opened
6/14/2026
Questions due
7/3/2026
Closes
7/17/2026

Last updated

Details

Type
Request for Proposal
Industry
Insurance
NAICS
524210
Solicitation №
RFP-11EAL-220

Budget estimate

$150,000 – $500,000

For a municipal property insurance brokerage contract of this scope, typical fees range from a modest retainer plus a percentage of premiums to a flat‑fee arrangement. Assuming the city’s property portfolio is sizable, the annual brokerage fee could be roughly 0.5‑1.0% of premiums, translating to an estimated contract value between $150,000 and $500,000. Factors influencing the range include the total insured value, number of policies, complexity of risk exposure, and negotiation outcomes.

AI estimate from the solicitation

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