Bid Specifications

Bid Specifications are developed as a common ground for all bidders to use as minimum standards for the proposal to be submitted. To develop the bid specs for an insurance program, requires a vast quantity of information about the client's organization. This information includes but, is not limited to the information developed through:

¨  Pre-Interview Kit

¨  Risk Management & Inspection

¨  Policy Audits

¨  Client Financial Statements

¨  Client's Disaster Plan

¨  Client's Risk Management Objectives

¨  Exposure Survey

¨  PCS History Library

The information contained in the specifications includes almost everything each bidder needs to make up a superior submission to their selected insurance companies. The insurance company's underwriter will have all the information they need right in the specifications making their job easier. Hopefully, this will reflect in the pricing and coverage offer. We indicated that the specs contain "almost" everything. In some cases, there may be a question that is unanswered in the specs. While we at PCS try to anticipate all questions, we are not always successful. In these cases, PCS will field questions and provide answers to the bidders.

The last section, the Bid Summary, is the actual proposal form which each bidder must complete as their proposal for coverage. This Summary streamlines the work PCS must do reducing the client's cost.

Bid specs are unique for each client. While there are some areas that might be common to clients in a specific industry or organization, even the "boiler plate" specifications are carefully related to each individual client. An example might be the Michigan No Fault Automobile coverage. But, even this coverage may need be endorsed. The final version of the bid specs is reviewed with the client prior to releasing to the bidders.

Lastly, we strongly invite each bidder to be creative in their approach to the specs. While we ask that they meet the minimums requested in the specs, we make sure that the bidders understand that we are also looking for their recommendations. Conversely, PCS often asks for coverage that might not be commonly available. We ask this under the theory that if we don't ask, we won't get it, while asking we might. Often, we find that coverage is offered by some of the underwriters.

By using this unique approach to Bid Specifications, we at Pointe Counseling Services believe we can find the best Risk Management and Insurance Program at the best price for our clients.

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