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RFP for Reinsurance Broking Services
Details
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Tender Closed
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| RFx ID : | 19146932 |
| Tender Name : | RFP for Reinsurance Broking Services |
| Reference # : |
18956364
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| Open Date : | Wednesday, 18 October 2017 12:00 PM (Pacific/Auckland UTC+13:00) |
| Close Date : | Wednesday, 8 November 2017 5:00 PM (Pacific/Auckland UTC+13:00) |
| Tender Type : | Request for Proposals (RFP) |
| Tender Coverage : | Sole Agency [?] |
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| Regions: |
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| Exemption Reason : | None |
| Required Pre-qualifications : | None |
| Contact : |
EQC Tenders Inbox eqctenders@eqc.govt.nz |
| Alternate Physical Delivery Address : | |
| Alternate Physical Fax Number : | |
| Agency Address : | NEW ZEALAND |
This opportunity
What we need
The Earthquake Commission (EQC) provides coverage for specified insured residential land, buildings and personal property in New Zealand against earthquake, tsunami, natural landslip, volcanic eruption and hydrothermal activity. EQC covers residential land only against storm and flood damage.
EQC currently purchases more than $4.5 billion of reinsurance capacity involving more than 70 reinsurance markets, making it one of the largest reinsurance programmes world-wide.
EQC is seeking the services of a reinsurance intermediary to:
• Advise EQC on the competitive purchase of conventional reinsurance as well as viable alternatives as part of an overall strategy for the protection of the Natural Disaster Fund.
• Advise on counterparty risk policy and assist with implementation.
• Ensure the proposed strategy will remain feasible for EQC.
• Assist in the negotiation and placement of reinsurance and/or any risk financing alternative.
• Assist in reinsurance claim recoveries.
EQC is looking to award the final contract to an intermediary or intermediaries with experience in major governmental natural disaster insurance programmes or similar reinsurance placements and can demonstrate that they can add value to reinsurance negotiations.
What we don’t want
EQC is not seeking the provision of a loss modelling tool or seeking loss modelling tool options.
A bit about us
Originally established by the New Zealand Government in 1945 as the Earthquake and War Damage Commission, the Earthquake Commission has been operating continuously since that time and today provides coverage for all insured residential property in New Zealand for several natural perils, principally including earthquake, tsunami, natural landslip, volcanic eruption, hydrothermal activity and flood damage to land. Further information is contained on the EQC web site.
Request for Proposal (RFP)
Shortlisted respondents from the ROI stage are now invited to submit a RFP response.
The purpose of this notice is to inform potential respondents of the details and timing of the RFP process to support preparation and submission of proposals.
This tender has been awarded to:
- Aon Benfield New Zealand Limited
Award Date: Friday, 9 March 2018 (Pacific/Auckland UTC+13:00)
Date RFx was completed/updated: Wednesday, 7 February 2018 5:30 AM (Pacific/Auckland UTC+13:00)
