Specifications include, but are not limited to: secure the most qualified reinsurance intermediary to assist it in reviewing and possibly obtaining reinsurance coverage available within the marketplace. In addition to those services, WSI wishes to engage a reinsurance intermediary with whom to partner in exploring various reinsurance structures and advise on better structuring other workers’ compensation and risk management services The insurance intermediary selected will provide WSI the following services: • Develop specifications for market coverage for the purpose of placing workers’ compensation reinsurance coverage for WSI. • Prepare summaries and recommendations of insurer’s proposals and deliver the same to WSI. • To negotiate and place the reinsurance coverage at the direction of WSI following selection. • To provide an annual summary of the workers’ compensation marketplace to aide WSI in making determinations. • To coordinate the renewal process of reinsurance, including negotiating renewal terms, conditions, and pricing with the assistance of WSI and to provide other services that are usual and customary for similar clients of the reinsurance intermediary. • To provide WSI with modeling and advice in exploring various structures and other forms of Workers’ Compensation risk management services.
