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City of Indianapolis·Indiana

Property Insurance Brokerage Services

Closes 7/17/2026$200k – $500kRequest for Proposal
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Description

The City of Indianapolis Office of the Controller is seeking a qualified firm to provide comprehensive property insurance brokerage services. The contractor will act as an intermediary between the city and insurance carriers, develop risk management strategies, negotiate coverage terms, and manage the procurement and administration of property insurance policies for municipal assets. This effort aims to secure cost‑effective, comprehensive coverage while ensuring compliance with applicable regulations and minimizing the city’s exposure to property‑related risks. • Conduct a thorough assessment of the city’s property risk exposure and insurance needs. • Develop and issue Requests for Proposals to insurance carriers, evaluate bids, and negotiate optimal terms. • Provide ongoing advisory services, policy administration, claims assistance, and renewal management throughout the contract period.

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
7/4/2026
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

$200,000 – $500,000

The solicitation does not disclose a contract value. Municipal property insurance brokerage contracts of this scope typically range from a few hundred thousand dollars to low‑mid‑seven figures, depending on the number of assets covered, the complexity of risk analysis, and the length of the agreement. Based on comparable city‑government insurance brokerage engagements, a reasonable estimate would be between $200,000 and $500,000 for the initial contract term. Factors influencing the final amount include the total insured value of municipal property, the desired coverage limits, and the negotiated broker commission structure.

AI estimate from the solicitation

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