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State of Louisiana Office of Risk Management

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

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State of Louisiana Office of Risk Management

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  1. State of LouisianaOffice of Risk Management Property Consultant RFP UW-03

  2. Pre-Proposal ConferenceMonday, July 25, 2011Agenda • Please sign-in on the attendance sheet! • Overview of ORM • Property and Insurance Information • Review of RFP • Question & Answer

  3. 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. Property Program History • Prior Katrina/Rita (2005): • $25M SIR / $475,000,000 XS Limit / $6,950,000 Annual Premium • After Katrina/Rita (2006-2008): • $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. 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. Review of RFP • Written Inquiries Deadline: August 1, 2011 4:00 pm CST • Proposal Submission Deadline: August 17, 2011 4:00 pm CST • Anticipated Contract Date: September 7, 2011

  7. Supporting Documentation • Located at http://doa.louisiana.gov/orm/rfp2011uw03.htm • Schedule of Property Values • Summary of Property Coverage by Fiscal Year • ORM Statute • Procurement Code Statutes

  8. 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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