Project Information

Bid Title

CHFA 291-RFP For Insurance Broker/Broker of Record

Issuing Agency

Connecticut Housing Finance Authority

Location

Connecticut

Published Date

Mar 12, 2026

Closing Date

Mar 27, 2026

Government Level

State & Local

Status

Closed

Original Source

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Bid Documents

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Project Description

RFP	Post Date	Due Date	Additional Documents
CHFA 291-RFP For Insurance Broker/Broker of Record	02/25/26	03/27/26 12:00 p.m.	Questions and Answers

Attachment Preview

Dear Interested Party:

Date: February 25, 2026

REQUEST FOR PROPOSALS FOR

INSURANCE BROKER/BROKER OF RECORD

The Connecticut Housing Finance Authority (“CHFA”) requests written proposals from qualified

licensed firms for an insurance broker/broker of record. CHFA will not reimburse for any

expenses incurred in connection with this Request for Proposals (“RFP”) including, but not

limited to, the cost of preparing the initial response and any additional information requested or

travel expenses relating to any oral presentation. Please be advised that all responses will be

considered property of CHFA, are matters of public record, and may be disclosed by CHFA after

the awarding of a contract.

OVERVIEW

CHFA, a body politic and corporate constituting a public instrumentality and political

subdivision of the State of Connecticut, was created in 1969 and operates pursuant to Chapter

134 of the Connecticut General Statutes, as amended. CHFA’s purpose is to help alleviate the

shortage of affordable housing for low-income and moderate-income families and persons in

Connecticut by providing single family mortgages, financing for rental housing, and mortgages

for the purchase, development and construction of housing.

For additional information about CHFA, please reference CHFA’s website at www.chfa.org.

SCOPE OF SERVICES

CHFA is seeking the services of a licensed insurance broker to assist CHFA with its insurance

needs. The selected firm will act as CHFA’s broker of record to obtain and review insurance

policy bids and determine which best meet CHFA’s needs. The term of the contract will be for

up to three years. The selected firm must have the capacity to provide the following services:

1. Review CHFA’s risks and recommend policies, limits, and deductibles as appropriate to

best position CHFA;

2. Proactively assist CHFA in identifying potential risks and recommend best practices;

3. Assist CHFA in the oversight of loss control activities and assist in the implementation of

loss control recommendations;

4. Annually market and obtain proper and cost-effective insurance policies including, but

not limited to the following types of insurance:

• Package

• Automobile

• Crime

• Umbrella

• Public Officials

• Hazard Insurance for CHFA Real Estate Owned portfolio

• Forced Place Insurance for single-family loans serviced by CHFA

• Mortgage Impairment

• Cyber Insurance

CHFA’s current schedule of insurance is attached as Attachment 1

5. Upon annual renewal, provide summary of both the marketing of the insurance and

coverage;

6. Upon request, provide timely, written interpretation of coverage;

7. Audit all of CHFA’s existing insurance policies and endorsements, perform detailed

analysis and comparison of all policies and endorsements, process all changes and

endorsements and verify accuracy of invoices;

8. Assist CHFA in monitoring, analyzing, and processing all insurance claims and activities

upon notice from CHFA;

9. Represent CHFA in all interactions with insurance carriers, including the settlement of

disputes with carriers;

10. Conduct loss runs of claim activity on each of the policies no less than biannually and

recommend risk management practices based on experiences;

11. Review bonds, certificates of insurance and liability waivers on behalf of CHFA, and

work with select CHFA personnel as appropriate; and

12. Provide timely advice on various insurance issues that may arise from time to time.

Binders and Policies

Binders evidencing coverage must be issued by the successful proposer for all policies at least 10

days prior to the inception date and maintained in effect until such time as the policies are issued

and in possession of CHFA. Policies must be delivered to CHFA no later than 120 days from

inception.

Renewals

CHFA requires that all renewal proposals be furnished approximately 30 days prior to expiration

or anniversary and indicate any changes in coverage as well as costs. It is the responsibility of

the successful proposer to obtain all information necessary to meet this requirement.

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Proposed Timetable for Marketing Policies:

Market policies

beginning of September

Deadline for questions and requests for information

beginning of October

Proposals due to CHFA/Broker

beginning of November

Successful proposer/bind policies

mid December

Policies effective

January 1

Prior to the placement of insurance, the selected firm shall disclose any fees, commissions,

contingent commissions, or compensation that results from placing insurance coverage on behalf

of CHFA.

EVALUATION CRITERIA

Firms will be evaluated on the basis of their written responses to this RFP, additional information

as requested by CHFA and, if applicable, oral interviews, if any, including but not limited to the

following criteria:

• Experience of the firm

• Qualifications of personnel

•

Organization and approach

•

Fees

•

Commitment to Affirmative Action

•

Conflicts or potential conflicts

CHFA may select multiple firms for the services described herein. No selected firm is

guaranteed or ensured any number of contracts or proportion of business.

REQUESTED INFORMATION

All firms must address the following issues and questions:

1. Provide a brief description of your firm, its history, and main areas of business. Indicate

the total number of staff and the team available to CHFA.

2. Provide a summary of the key strengths and qualifications of your firm to serve as

CHFA’s Broker of Record. Firms must have experience with and demonstrate a working

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knowledge of the risks associated with public sector entities as well as lending

institutions. (Your response to this question should not exceed one page).

3. Describe the steps your firm would take in reviewing CHFA’s current insurance program

and how your firm would keep CHFA informed of current developments in the risk

management area.

4. List the markets your firm would seek proposals from for each line of coverage used by

CHFA.

5. List all carriers with which your firm has a contingent commission relationship.

6. Provide copies of any State of Connecticut broker’s licenses for any professionals who

will be available to CHFA.

7. Describe your presence in Connecticut, if any, including corporate existence in

Connecticut, whether formed in Connecticut or authorized to do business in the state.

This may include, but not be limited to, information on the number of offices your firm

maintains in Connecticut, the location of such offices, the number of Connecticut

residents employed in those offices, and payroll and corporate taxes paid in Connecticut.

If your firm currently is not registered with the Connecticut Secretary of State, please

indicate whether your firm will register if your firm is awarded this contract.

8. Include any participation by your firm in any civic or other non-profit activities,

including any charitable contributions that your firm made in Connecticut.

9. Provide a brief summary of the professional background of any individuals who would be

assigned to work with CHFA. Please indicate their probable areas of responsibility and

the percentage of their time which would be available to service CHFA’s account.

10. Please provide a yearly flat fee for all services.

11. Provide, in tabular form, information on the employee composition of your firm

indicating the total number of employees and the total number and percentages of

minorities and women employed and their titles.

12. Submit specific information regarding your firm’s commitment to Affirmative Action.

Please include, at a minimum, formal internal hiring practices and discussion of working

relationships with women and minority owned companies. Please include your firm's

most recent Equal Employment Opportunity Commission report, if required to file.

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13. Describe any and all material lawsuits, legal or administrative proceedings or

governmental investigations, criminal actions or law enforcement activities (including

those by federal, state or local authorities, or self-regulatory organizations) or non-routine

inquiries or investigations relating to you, your firm, or any of your affiliates, including

any proceedings to which you, your firm, your affiliates or any of their respective

officers, directors or employees are a named party or of which any of such has been the

focus, that have occurred in the last three (3) years or that are currently threatened,

including whether you, your firm, or any of your affiliates, or their respective officers,

directors or employees have been censured by any regulatory body. Describe any such

circumstances. Advise whether these investigations or proceedings will affect you or your

firm’s ability to complete the proposed transaction and perform the services in this RFP.

14. Describe whether you foresee any potential conflicts of interest arising from providing

brokerage/consulting services for CHFA. If so, describe how your firm would address

potential conflicts of interest.

15. Has your firm ever been removed from an account prior to the expiration of its contract

(i.e., been fired)? If so, please explain. If you wish, list the name of a third party with

whom CHFA could discuss this termination.

16. Describe your firm's knowledge of and experience with CHFA.

17. Please provide as references a minimum of three clients for whom your firm has provided

similar and substantial services. Please include the name of the person to contact, his or

her phone number and email address. Please include as references any other State of

Connecticut agencies or departments that have engaged your firm to perform services.

18. Selected persons or firms must comply with CHFA and State Ethics requirements, laws

and regulations. Persons or firms seeking to do business with CHFA are required to

comply with the ethics statement, attached hereto on Exhibit C, and the applicable

provisions of the Code of Ethics and Code of Ethics for Lobbyists incorporated therein by

reference.

19. An authorized signatory of any firm submitting qualifications or proposals is required to

execute and submit with the proposals, qualifications and with any agreement or contract

awarded in accordance herewith all applicable representations and certifications set forth

on Exhibit A, attached hereto and made a part hereof, regarding:

• Gift and Campaign Contributions; Connecticut General Statutes §4-252

• Entities Making Investments in Iran; Connecticut General Statutes §4-252a

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Commodity Codes

• NAICS 524210Insurance Agencies and Brokerages

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