August 10 Update: RFP for TWIA Catastrophe Modeler is open for inquiries.

Purpose 

The purpose of this Request for Proposals (RFP) is to invite qualified Respondents to submit proposals to provide professional catastrophe modeling services as described in Section 2 of this RFP.  

The Selected Respondent will be expected to provide catastrophe modeling expertise in the identification and incorporation of accurate exposure information, execution of catastrophe models, and presentation and interpretation of modeling results, beginning with the determination of the 50-year probable maximum loss in preparation for the 2027 funding structure and continuing through the 2027 rate adequacy analysis. 

This RFP contains the instructions governing proposal requirements, formatting, required materials, eligibility criteria, selection methodology, and the duties and responsibilities of the Selected Respondent. 

Respondents must include in their written proposal all requirements, terms, or conditions they may have and should assume no opportunity exists to add such matters after submission. Proposals should include sufficient information and evidence to permit TWIA to award a contract that provides the best overall value. Unacceptable terms or conditions may cause TWIA to reject a proposal, regardless of other evaluation factors. 

• Request for Proposal – TWIA Catastrophe Modeler

Review Process 

TWIA will conduct a fair, comprehensive, and impartial evaluation of all timely received Proposals. The evaluation will be performed by an evaluation committee comprised of TWIA employees, advisors, and/or other qualified third parties (the “Evaluation Committee”). Information regarding the members of the Evaluation Committee will be made available upon request after completion of the selection and award process.  

Any third party participating in the evaluation process will be prohibited from submitting a Proposal in response to this RFP. Each member of the Evaluation Committee will independently review and score each Proposal using a pre-determined scoring rubric based on the criteria described in Section 7.  

Proposals will be evaluated on their individual merits and in comparison, to other submitted Proposals. Individual scores will be compiled and averaged to determine a final score for each Respondent. Based on the final scores, the Evaluation Committee will determine which, if any, Respondent should be awarded a contract. The Evaluation Committee may request written clarification regarding any Proposal before completing the evaluation process. All clarification requests and responses will become part of the official evaluation record. 

To be considered for award, Respondents must demonstrate that they possess the qualified personnel, expertise, resources, systems, and organizational capacity necessary to provide the services described in this RFP and any resulting contract. Proposals must also demonstrate experience providing reinsurance brokerage services like those described in this RFP.  

Rights and Obligations 

TWIA assumes no responsibility for any costs incurred in responding to this RFIP and reserves the right to accept or reject any or all submissions. TWIA is under no obligation to award a contract based on this RFP. Additionally, TWIA reserves the right to modify this RFP or issue alternate or additional RFPs at its discretion.

Important deadlines pertaining to the RFP

For more information on the requirements for information to be submitted by interested Respondents, please contact the Vendor and Contract Manager at vendormanagement@twia.org.