REQUEST FOR PROPOSAL (RFP) STATE PURCHASE-FY25-0262-SL, 1: Fund Administration Services

Background
The State of Missouri's Office of Administration, Division of Purchasing is issuing this Request for Proposal (RFP) on behalf of the Department of Natural Resources for Fund Administration Services related to the Petroleum Storage Tank Insurance Fund (PSTIF).

The PSTIF was established to provide financial responsibility mechanisms for owners and operators of underground storage tanks (USTs) containing petroleum. This ensures compliance with state regulations and facilitates coverage for risks associated with spills and leaks. The fund has been operational since 1991 and has undergone several legislative expansions to enhance its services.

Work Details
The contractor will provide comprehensive insurance and compliance services, including:
1. Receipt and processing of applications for participation in the PSTIF.
2. Issuance of declarations pages and participation agreements.
3. Coverage cancellation and renewal services.
4. Claims services including investigations, eligibility determinations, and pre-approval of costs for site characterization and corrective action.
5. Maintenance of records in the state agency database regarding applications, claims, and compliance documentation.
6. Coordination with the executive director of the PSTIF to ensure all services meet agency standards.
7. Maintenance of an office in Jefferson City, Missouri, equipped to support PSTIF operations.
8. Regular reporting on claims status, compliance issues, and financial transactions related to fund participants.

Period of Performance
The contract will be effective from the date of award through one year, with options for renewal for up to four additional one-year periods.

Place of Performance
The primary location for performance will be Jefferson City, Missouri, where the contractor must maintain an office to facilitate operations.

Bidder Requirements
Vendors must have at least seven years of experience in professional insurance and compliance services as well as claims services. They must also be registered in MissouriBUYS with 'Approved' status to be eligible for contract award. Additionally, vendors are required to comply with various business registration laws in Missouri and maintain good standing throughout the contract period.