The Contractor shall: Maintain a process to successfully provide SAF with reinsurance placement that meets or exceeds standards. Develop SAF’s criteria for market coverage for the purpose of placing reinsurance coverage. Prepare analysis annually, or as requested, that summarizes reinsurance market trends that would be inclusive of information detailing losses, earnings, and capacity. Prepare analysis annually, or as requested, that summarizes exposure, risk aggregation, and loss potential based on various events that are specific to SAF. Prepare analysis annually, or as requested, that details historical and projected loss development for SAF claims experience. Ensure all SAF risk exposure data is disclosed and effectively presented to reinsurance underwriters. Prepare summaries and recommendations of reinsurer proposals and deliver to SAF management and/or Executive Director as requested. Coordinate the annual renewal process of reinsurance, including negotiating renewal terms, conditions, and pricing at the direction of SAF. Provide SAF with an analytical report annually, or as requested, that placed coverage meets transfer of risk criteria and requirements. Ensure the broadest and most advantageous reinsurance coverage possible is obtained relevant to budget, effective capital utilization, and prevailing market trends. Provide an annual summary of the workers’ compensation insurance marketplace to aid in making determinations. Annually provide SAF with modeling and advice in exploring various reinsurance structures. Assist with allocation of premium payment to reinsurers and, if necessary, the collection of loss reimbursements due from reinsurers. If applicable, assist with the analysis and negotiation of commutation agreements. Asist with staff or outside inquiries regarding reinsurance contract provisions and claim coverage. Maintain a process to report and track all reinsurance referrals through an online web portal. In case of emergency other forms of reporting such as mail, fax, or e-mails shall also remain acceptable. Maintain a process to provide an API connection into SAF’s claim management system. Maintain a process to provide appropriate claims and payment management services on behalf of SAF. If requested by SAF, provide summary/detail management reports monthly, quarterly, and annually. Reports will be requested on a fiscal and calendar year basis. Provide any other services that are usual and customary for similar clients of the reinsurance intermediary.
