Specifications include, but are not limited to: 3.01. Obtain, analyze, evaluate, and benchmark quotes from various insurers and service providers, and, if applicable, implementing new employee benefit programs established by NMC. 3.02. Preparing Requests for Proposal (RFP’s) for NMC’s review and approval on renewals and prospective employee benefit programs. Once approved, vendor will submit RFP’s to applicable insurers and service providers on NMC’s behalf. 3.03. Negotiate on NMC’s behalf with insurers and service providers with respect to renewals and prospective employee benefit programs. This may include establishing policy or program details, coverages, premiums and other terms and conditions. Vendor agrees to provide NMC with copies of all insurer and service provider quotes and other relevant information obtained through the negotiation process. 3.04. Assessing the financial soundness of insurers and service providers based on publicly available information, including information from established industry rating agencies. 3.05. Review all policies, endorsements and other agreements related to those employee benefit programs which the vendor helps arrange on NMC’s behalf. Vendor shall use best efforts to ensure that the documents are accurate and in conformity with negotiated specifications and NMC’s instructions. Vendor shall notify NMC on a timely basis of any errors, inconsistencies, omissions and any recommended changes to those documents.
