Project Information

Bid Title

Insurance Brokerage Request for Proposals

Issuing Agency

Vermont Energy Investment Corporation (VEIC)

Location

Vermont

Published Date

Apr 8, 2026

Closing Date

May 6, 2026

Government Level

State & Local

Status

Closed

Original Source

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Bid Documents

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Project Description

Insurance Brokerage Request for Proposals

VEIC is seeking proposals from qualified, licensed insurance brokerage firms to provide a full range of commercial insurance and risk management advisory services, as described further in the Request for Proposals (RFP) posted here. VEIC intends to select a single firm to serve as its Insurance Broker of Record.

Responses to this RFP must be delivered electronically to VEIC by 5 p.m. EDT on Wednesday, May 6, 2026. VEIC will not accept proposals submitted after 5 p.m. EDT. Please submit your proposal electronically via e-mail to: legal@veic.org with “RFP Proposal for Commercial Insurance Brokerage Firm” in the subject line.

A summary of VEIC’s current insurance program (Appendix A) is available upon request. Bidders may request Appendix A in accordance with the instructions set forth in this RFP.

VEIC will respond to individual questions regarding this RFP only as follows: VEIC will receive questions regarding requirements and scope of work up to 5 p.m. EDT Friday, April 17, 2026, via e-mail only, to: legal@veic.org with “Insurance Brokerage Firm Question” in the subject line. When appropriate, please refer to the RFP page number and Section Heading for ease of navigation and response. VEIC will post answers on this VEIC website no later than Wednesday, April 22, 2026. VEIC will not address questions submitted after April 17, 2026.

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Insurance Brokerage

Request for Proposal

RFP Release Date: 4/08/2026

Bidder Questions Due: 4/17/2026

Answers Posted: 4/22/2026

Proposals Due: 5/06/2026

Summary

Vermont Energy Investment Corporation (VEIC) is a mission-driven, non-profit leader in the design and delivery of

decarbonization programs and services for residents, businesses, and industrial customers across the United

States. VEIC is seeking proposals from qualified, licensed insurance brokerage firms to provide a full range of

commercial insurance and risk management advisory services, as described below, and in further detail in the

Scope of Work. VEIC intends to select a single firm to serve as its Insurance Broker of Record.

A summary of VEIC’s current insurance program (Appendix A) is available upon request. Bidders may request

Appendix A in accordance with the instructions set forth in this RFP.

Brief description of services:

• Assist VEIC in identifying and analyzing its loss exposures on an ongoing basis.

• Assist VEIC in procuring insurance policies and/or renewing existing insurance policies

to meet its extensive contractual requirements.

• Provide VEIC with an insurance coverage summaries detailing its policies, terms, carriers,

premiums, deductibles, and any other pertinent information.

• Assist VEIC with routine insurance audits to ensure a successful outcome.

• Assist VEIC with filing and handling claims that may arise.

• Review minimum insurance requirements for new business and contractual

engagements and obtain additional coverage, endorsements, or limits as needed.

• Provide ongoing support and counsel regarding VEIC’s insurance needs and

operations, including producing certificates of insurance, answering insurance

coverage questions, and advising on emerging risks in the market.

• Provide both off-the-shelf and customized training for internal stakeholders, tailored to

VEIC’s operations, risk profile, and contractual environment; leadership-level training

should deliver strategic, data-driven guidance on insurance placement, risk

management, and emerging risks, while staff-level training should be practical,

accessible, and plain-language, covering topics such as certificate of insurance

compliance and contractual insurance requirements.

• Provide any other services customarily provided by a full-service commercial insurance brokerage

firm.

Responses to this Request for Proposals (RFP) must be delivered electronically to VEIC by 5 p.m. EDT on

Wednesday, May 6, 2026. VEIC will not accept proposals submitted after 5 p.m. EDT. Please submit your

proposal electronically via e-mail to: legal@veic.org with “RFP Proposal for Commercial Insurance

Brokerage Firm” in the subject line.

2

VEIC will respond to individual questions regarding this RFP only as follows: VEIC will receive questions

regarding requirements and scope of work up to 5 p.m. EDT Friday, April 17, 2026, via e-mail only, to:

legal@veic.org with “Insurance Brokerage Firm Question” in the subject line. When appropriate, please

refer to the RFP page number and Section Heading for ease of navigation and response. VEIC will post

answers on the VEIC website no later than Wednesday, April 22, 2026. VEIC will not address questions

submitted after April 17, 2026. Requests for Appendix A (Summary of VEIC’s Current Insurance Program)

must be submitted no later than 5 p.m. EDT Friday, May 1, 2026.

Background

VEIC is a mission-driven, nonprofit organization dedicated to reducing the economic and

environmental costs of energy use. It carries out its mission, in part, by design and delivery of

decarbonization programs and services for residents, businesses, and industrial customers. Founded in

1986, VEIC is nationally and internationally recognized for advancing energy efficiency, energy conservation,

and renewable energy programs and projects across the United States. VEIC employs over 400

professionals across 25 U.S. states, with one employee overseas. It is headquartered in Winooski, VT,

and has an office in Washington, DC. As a fast-growing nonprofit, VEIC continues to expand its programs

and has the potential to increase its revenue, staffing, and physical presence in additional locations. For

additional information, please see the VEIC Website: www.VEIC.org

Scope of Work, Schedule, and Contract

RFP and Implementation Schedule

Table 1. VEIC will attempt to adhere to the following schedule but reserves the right to adjust the schedule

below as needed.

RFP release

Bidders Questions Due

Answers posted

Proposals due

Bidder selected

4/08/2026

4/17/2026

4/22/2026

5/06/2026

5/13/2026

VEIC reserves the right, at its sole discretion, to determine whether interviews will be conducted following

receipt and evaluation of proposals, and to invite some or all bidders to participate.

Scope of Work

The primary goals and objectives of this RFP are to:

• Retain a licensed commercial insurance brokerage firm to act as VEIC’s Broker of Record and

assist VEIC with all aspects of risk transfer as further described below.

• Secure the best mix of insurance coverage at the least possible cost for VEIC, in alignment

with its risk tolerance, all applicable laws and contractual requirements. This includes VEIC’s

existing coverage portfolio, which includes, but is not limited to: commercial general liability,

business automobile liability, workers’ compensation, stop gap coverage in certain states,

employer’s liability, foreign liability, cyber liability, professional liability (errors & omissions),

pollution liability, crime (third-party indemnity), sexual/physical abuse and molestation,

directors and officers, fiduciary liability, umbrella or excess liability, and possibly disability &

paid leave where required by law.

3

• Facilitate communication between VEIC and its selected insurance carriers.

Broker Services:

• Loss Exposure Analysis: Identify and analyze VEIC’s loss exposures, advise vulnerabilities, and

recommend changes to coverage, terms, or limits. Includes at least one annual meeting with

VEIC’s leadership team and quarterly check-ins with a member(s) of its Legal team and/or

Human Resources team(s). The annual meeting with VEIC’s leadership team should focus on

strategic discussions around the value, importance, and market insights related to VEIC’s

insurance program, rather than a review of specific policy terms or coverage details.

• Insurance Procurement & Renewal: Assist with procuring and renewing insurance policies

with reputable, financially responsible carriers on the most favorable terms. VEIC’s policies

generally have a September 1 – August 31 effective period. Services include coordinating

insurer applications; pre-populating routine information; working with VEIC to complete and

review applications; obtaining clarifications from insurers or underwriters as needed;

negotiating coverage terms and premiums; presenting and evaluating multiple quotations;

advising VEIC on coverage options, insurer operations, claims handling, and related services;

binding coverage; and reviewing all policies, binders, and endorsements to ensure accuracy

and completeness prior to delivery to VEIC.

• Providing VEIC with an in-depth insurance coverage summary annually detailing its

policies, terms, carriers, premiums, detailed billing schedule, deductibles, and any other

pertinent information.

• Assisting VEIC with routine insurance audits to ensure a successful outcome. This work

will include gaining a deep understanding of the business to ensure VEIC is accurately

estimating exposures and helping to coordinate and schedule the audit and facilitate

insurance carrier data requests as needed.

• Assisting VEIC with filing and handling claims that may arise. This work may include

collecting information, providing guidance on which carrier(s) or policy(ies) may provide

coverage, submitting claims, answering any questions that may arise during the claim process,

monitoring the claims to ensure proper handling, and monitoring VEIC’s overall claims activity

to ensure VEIC always has adequate coverage.

• Reviewing proposed minimum insurance requirements for new business, providing

guidance, and obtaining additional coverage, endorsements, or limits as needed to meet

contractual requirements.

• Providing ongoing support to VEIC on issuance and management of Certificates of

Insurance including producing certificates of insurance for VEIC’s certificate holders,

maintaining a system, including a repository and log of external party contact info, and COIs

that have been issued to external parties on behalf of VEIC, and tracking COI renewal

schedules to meet contractual obligations.

• Providing ongoing support and counsel regarding VEIC’s general insurance needs and

operations including answering insurance coverage questions and advising on emerging risks

in the market.

• Providing training and education provide training and education to internal stakeholders as

needed, which may include VEIC’s Board of Directors, Executive and Senior Leadership Teams,

and program staff. Services may include on-site or remote trainings, as well as access to e-

learning tools and resources offered by your firm or the insurers with whom you work, such as

workers’ compensation safety trainings, insurance compliance trainings, etc. VEIC currently

uses Engagedly as its learning and development platform; any remote learning resources must

be compatible with Engagedly.

• (Extra Credit) Providing ongoing support to VEIC on tracking, management and

compliance of Certificates of Insurance issued to VEIC

4

Preparing and Delivering a Proposal

For ease and efficiency of review, VEIC has specified the requirements for submitting a proposal to this RFP.

Bidders must follow and be responsive to all requirements of this RFP. Proposals should be clear and

concise and presented in the form of a written response with sections and sub-headings. Proposals that do

not follow the required format or are incomplete may be disqualified at VEIC’s sole discretion.

Bidders are required to propose, and will be scored upon, the individual criteria summarized in Table 2

below. Each bidder must include a Bid Summary Table based on Table 2 with the specific value or

information proposed for each listed criterion. The Bid Summary Table shall be presented as part of the

narrative summary.

The values provided in the Bid Summary Table represent the bidder’s proposed values and are not binding

on VEIC. VEIC, in its sole discretion, will determine the final values to be awarded to each bidder.

A summary of VEIC’s current insurance program (Appendix A) is available upon request. Bidders may

request Appendix A by emailing legal@veic.org with the subject line “Insurance Brokerage RFP -

Request for Appendix A,” in accordance with the instructions set forth in this RFP. Requests must be

submitted no later than 5:00 p.m. EDT on Friday, May 1, 2026.

Note: This RFP is intended to evaluate insurance brokerage services and market access. Bidders are not

permitted to obtain formal insurance quotations from carriers as part of this proposal on behalf of

VEIC. However, bidders must provide a preliminary assessment of VEIC’s current insurance program,

including expected premium ranges, potential carrier markets, and any anticipated market conditions that

may affect pricing at renewal.

Table 2: Response Summary, Evaluation Criteria and Points

Scoring Category/Criteria

Company Information and

Executive Summary

Team Qualifications and

Experience

Scope of Work

Description

• Executive Summary, including company mission, values,

organizational culture, and approach to client services.

• References

• Company Data, including client retention, workforce

and/or supplier diversity information, and any initiatives

related to diversity, environmental sustainability, or

corporate social responsibility.

• The team’s knowledge, experience, and ability to

successfully complete the Scope of Work.

• Subject matter expertise, work experience, training,

licenses and/or other credentials of key employees.

• Demonstrated commitment to collaborative, inclusive,

and value-driven services aligned with VEIC’s

organizational mission.

• Approach to the Scope of Work.

• Implementation plan and timeline.

Max

Points

10

15

25

5

Commercial Lines Access and • List of commercial insurance lines your company can

15

Market Strategy

access that align with VEIC’s existing coverage (see

Appendix A, available upon request).

• Identification of insurers with whom your firm maintains

relationships for each line of coverage.

• Preliminary assessment of potential carrier markets and

expected premium ranges for VEIC’s program.

Commission Disclosure

and Broker Fees

• Full disclosure of expected commissions associated with 18

VEIC’s account.

• Any broker fees paid separately by VEIC through a

professional services agreement.

• Proposed payment terms and an annual not-to-exceed

amount for the Scope of Work.

• Preference will be given to bidders offering the most

comprehensive services at the lowest overall cost.

Resources and Tools

TOTAL

• Resources and tools provided by your company or

17

partner insurers related to the Scope of Work (e.g.,

secure document portals, systems and processes for

convenient and efficient applications, resource

databases, training tools, and/or certificate of insurance

management systems).

100

Proposal Requirements

A. Company Information and Executive Summary: (2 pages maximum) This section of the proposal

must include the following:

1. Company Info: Name of the business, contact person, and contact information including

full legal name, address, telephone, mobile telephone number, e-mail address, and

website address, as applicable.

2. Executive Summary: Provide a brief description of your company, including its

mission, values, and organizational culture. Describe the types of organizations your

company typically supports (e.g., size, location, geographic footprint, sector, and

complexity), how your firm differentiates itself from competitors, and your company’s

knowledge of and relationships with insurance carriers.

Please also describe any policies, initiatives, or commitments related to diversity,

environmental sustainability, or corporate social responsibility, where applicable.

3. References: Provide at least two current client references and one former client

reference. For each reference, include the name, point of contact, address, telephone

number, email address, and a brief description of the services provided, length of the

relationship, and general client demographics.

4. Company Data: If available, provide your client retention rate for the past three years,

workforce and/or supplier diversity information, and any other relevant operational

metrics such as average turnaround times for routine services (e.g., producing

certificates of insurance).

B. Team Qualifications and Experience: (5 pages maximum): This section must demonstrate your

team’s knowledge, experience, and ability to successfully perform the Scope of Work. Provide the

Commodity Codes

• NAICS 524210Insurance Agencies and Brokerages

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