Request for Proposals (RFP) Broker for Insurance & Risk Management

Request for Proposals (RFP) Broker for Insurance & Risk

Management.

Introduction:

Cycling Canada is soliciting proposals for broker services to provide insurance and risk management consulting and assistance to our organization and collective. Enclosed are our detailed specifications requesting your proposals. Do not contact insurance markets on our behalf at this time. We are seeking background information on your firm and ideas on how you would approach our insurance and risk management program. Your response should be developed solely based on your firm’s knowledge and expertise.

Who we are:

Cycling Canada is the nation’s oldest National Sport Organization, established in 1882. Our role is to lead, regulate and empower, while engaging with our partners to collectively develop our cycling community through high quality programs, events, and services. Cycling Canada is an association of 12 provincial and territorial cycling organizations, each committed to the growth and success of cycling in Canada. In 2024 we had 37,000 members from across the country participating in cycling programs and events from grassroots to elite competitive competitions. Cycling Canada’s Insurance Collective currently consists of 9 provincial and territorial cycling organizations along with the national association. They are:

• Canadian Cycling Association

• Bicycle Newfoundland and Labrador

• Cycling PEI

• Velo New Brunswick

• Ontario Cycling

• Manitoba Cycling Association

• Saskatchewan Cycling Association

• Alberta Bicycle Association

• Cycling Association of Yukon

• Cycling NWT

Collective membership for 2024 was 18,700 members.

Scope of Services Required:

Cycling Canada is looking for a pro-active insurance broker to provide us with a full range of services related to our insurance and risk management program (specific coverage details listed in Appendix A), while also providing exceptional risk assessment and management services. We are particularly interested in a broker who has worked within the Canadian amateur sport landscape, who can demonstrate outstanding service and can offer creative and innovative ideas and approaches related to our insurance and risk management program.  More specifically a broker that:

• Specializes in insurance and risk management programs for sports in Canada
• Can coordinate the marketing and placement of all lines of insurance
• Can provide claim advocacy and loss prevention services
• Can serve as an advisor and consultant to the Cycling Canada Insurance Collective & Executive Leadership.

The role of insurance broker is to provide independent advice regarding the purchase of insurance products and/or alternate risk financing techniques and will:

• Assist Cycling Canada and the Insurance Collective to protect their corporate assets.
• Provide a high level of customer service and utilize best practices in helping assess and manage risk:
  • Providing a systemic, comprehensive risk identification, assessment, prioritizing and mitigation process review of insurance needs to understand our uncertainties and potential risks
  • Ensuring that there is ongoing assessment and communication
  • Provide an efficient and cost-effective means of processing information and/or claims.
  • Providing a comprehensive and innovative software system that is interactive and is a centralized location for Customers to have access to and retrieve real-time data (e.g. claims, trends, etc.)
  • Provide Quarterly reports to Cycling Canada Insurance Collective on claims in each province and their status.
• Provide credible and useful benchmark evidence for all programs purchased or implemented.
• Provide topical research and education on insurance/risk that are relevant to the sport industry.
• Provide advice regarding changes and/or trends in the insurance marketplace and forecast of market conditions.
• Identifying any gaps in insurance coverage on an ongoing basis and provide solutions to close those gaps.
• Providing end to end claims management support
• Providing claims handling/reporting procedures
• Attend meetings with the Cycling Canada Insurance Collective as requested.
• Provide loss prevention expertise as required.

Proposal Submission Guidelines

Please include the following in the proposal:

Broker Profile

1. Provide an overview of your company, including a brief description of your company’s history, growth, ownership structure, philosophy/culture, approximate number of employees and financial growth.
2. Describe your expertise in the sport industry.

Account Team

1. How is your account team structured? Please include a brief biography of the service team members who would support the Cycling Canada Insurance Collective. Who will be the day-to- day contacts for the account?
2. What support staff is available through your company?
3. How would your account team service the Cycling Canada Insurance Collective differently than your competitors?

Client Service/Quality Assurance

• How does your firm evaluate the solvency and quality of insurers that may be used on our account?
• Describe the procedures for monitoring client satisfaction.
• Describe your organization’s commitment to quality.
• What is your philosophy on customer services?
• Describe your service and response time standards.
• Describe any Service Guarantees.
• Describe the firm’s general marketing philosophy and market leverage.

Services Provided

1. What is your philosophy and approach to marketing?
2. What services will be provided? Include both services we have outlined in this request as well as additional services that you would recommend to us.
3. Describe the loss prevention and claims services you provide to clients.

References

1. Provide two references for companies with similar size, complexity and characteristics of the Cycling Canada Insurance Collective.
2. Please provide an example of how your services have significantly benefited a client.

Fees and Compensation

1. Describe our right to terminate the contract for broker services.
2. How you are to be compensated (based on fees, commissions, or a combination); including percentage of fees and/or commissions (if applicable).

Other Questions to Consider:

1. What additional services do you provide?
2. What do we need to know about the insurance policies you would recommend, and your process for placing them?
3. How do you ensure customer satisfaction?
4. A proposed timeline for bringing forward proposals each year.

Selection Criteria

Criteria to be used to evaluate the proposals will include, but are not limited to:

1. The degree to which each proposal responds to the needs of the Cycling Canada Insurance Collective and this request (responsiveness, preciseness, thoroughness, etc.).
2. Evidence of the ability to provide service in a prompt, thorough and professional manner.
3. The experience, professional credentials, reputation and personalities of those persons who will be servicing our account.
4. Availability and accessibility of the broker/consultant and support staff, that will be servicing our account.
5. Ability to reach a wide array of insurance markets.
6. Your conceptual approach and ideas related to service, as well as how you will manage our account.

All proposals will be reviewed by the Cycling Canada Insurance Collective Committee against a weighted criterion. Cycling Canada will conduct an evaluation procedure after the first year of the agreement.

The deadline for receipt of your proposal submission is no later than April 1 2025.

Documents must be submitted in an electronic format to: Vanessa Desjardins, Interim Chief Operating Officer Vanessa.desjardins@cyclingcanada.ca

Appendix A:

Directors & Officers Liability

• $2M per provincial / territorial association
• $5M for the national association
• Offering for clubs in the collective

General Liability

• $10M per occurrence
• $2M sport errors & omissions
• $2M abuse (retroactive to January 1, 2017)
• $5M for recreational cycling only
• $1M employee benefits
• $10M employee liability
• $5M single event license
• $5M grassroots program

Sport Accident

• $50k (per insured person)
• $10k for recreational cycling only
• Expanded sport accident for cycling activity outside of sanctioned activities

Bike Insurance

• Member bike coverage

Cyber Liability

• Per organization

Property/ Content

• Per organization

Trail Maintenance

• $5M with use of machinery