Reinsurance and Other Insurance Services - prj_988

Insurance & Care NSW (icare) is the statutory body responsible for the operation of NSW Government insurance and self-insurance funds. 

The scope of services extends to insurance, reinsurance and risk advice, including modelling, strategy development, actuarial and pricing advice, coverage analysis, including support for the TMF’s claims and underwriting functions.

The Reinsurance and Insurance Service Provider is responsible for facilitating the placement of icare’s reinsurance programme, into worldwide markets and providing recommendations and solutions on reinsurance matters as per the agreed arrangement. It also provides support for the management and placement of any other Scheme as determined by icare.

Overall objectives for this procurement include, but are not limited to:

• Managing NSW State risk exposures through proactive strategic advice on minimising / efficiently managing government risks
• Minimising the impact to the NSW State balance sheet of liabilities through cost-effective risk transfer
• Continuous optimising of value proposition and improvement of insurance and reinsurance services to the NSW government
• Efficient and cost-effective delivery of all services including minimising total cost of risk and cost of reinsurance to the NSW government
• Supporting icare in reinsurance recoveries
• Identifying and managing any future insurance risk and the management of reinsurance for other icare Schemes and Funds, or on behalf of other NSW agencies, as required
• Supporting and assisting in delivery of strategic advice of risk monitoring, measurement and transfer, including pricing, modelling, risk mitigation design
• Providing access to industry specific local and global specialists and data sources to create risk management strategies. 

A Market Briefing will be held on Friday 1 September 2023 between 11:30 am - 12:30pm, AEST via MS Teams webinar. Registration MUST be submitted by 31 August 2023, 2pm, AEST.

Please refer to Respondent Market Briefing on page 2 of Part A RFP document.

• The Procurement (Enforceable Procurement Provisions) Direction 2019 applies to this procurement

• A government agency may conduct negotiations with suppliers regarding the procurement

Anticipated contract/s commencement from December 2023/January 2024