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Office of Risk Management State of Louisiana Office of Risk Management Property Consultant RFP UW-03.

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Presentation on theme: "Office of Risk Management State of Louisiana Office of Risk Management Property Consultant RFP UW-03."— Presentation transcript:

1 Office of Risk Management State of Louisiana Office of Risk Management Property Consultant RFP UW-03

2 Office of Risk Management Pre-Proposal Conference Monday, July 25, 2011 Agenda Please sign-in on the attendance sheet! Overview of ORM Property and Insurance Information Review of RFP Question & Answer

3 Office of Risk Management ORM Overview Governed by LA R.S. 39:1527 et seq Self-insurance program Excess re-insurance purchased Maintains inventory of all state-owned buildings and values of contents 9,200 insured buildings - $16 Billion TIV FEMA Stafford Act Requirements

4 Office of Risk Management Property Program History Prior Katrina/Rita (2005): $25M SIR / $475,000,000 XS Limit / $6,950,000 Annual Premium After Katrina/Rita ( ): $50M SIR / $150,000,000 XS Limit / $35,485,000 Annual Premium After Gustav/Ike (2009+): $50M SIR / $150,000,000 Limits / $28,450,000 Annual premium Summary of Property Coverage (on website)

5 Office of Risk Management Challenges Reduction in market capacity for coastal risks Following form exceptions High SIR Flood Insurance Premium increases passed to insured agencies High TIV in high-risk areas Limitations of the Procurement Code

6 Office of Risk Management Review of RFP Written Inquiries Deadline: August 1, :00 pm CST Proposal Submission Deadline: August 17, :00 pm CST Anticipated Contract Date: September 7, 2011

7 Office of Risk Management Supporting Documentation Located at Schedule of Property Values Summary of Property Coverage by Fiscal Year ORM Statute Procurement Code Statutes

8 Office of Risk Management Q & A Company financial statements are private. Is there an alternative to submission or a way to protect them from public access? What are the primary reasons ORM is performing this study? Catastrophe modeling reports are very costly and require large amounts of data. Has ORM had these reports in the past and are we aware of the cost and data required? Will the Consultant be involved in the selection and placement of 2012 insurance program? What are the goals of the RFP?


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