Specifications include, but are not limited to: New Claims Administration. Vendor will adjudicate all newly reported Auto Liability, General Liability, Professional Liability, Bond, Crime, Inland Marine, Flood, Property and FELA claims. • Upon report of an incident, where applicable, review, investigate, adjust, settle and/or resist claims. • Establish and update claim reserves. • Maintain claim files and records; if the State shall be obligated to store and preserve any physical evidence relevant to any claim or potential claim. • Assist the State in establishing a claim loss fund account as more specifically described in Section 3 below for the funding of losses (including indemnity payments) and Allocated Expenses associated with a claim.
