competitive bidding
Competitive bidding involves an insured requesting coverage and premium quotations on its insurance program from a number of agents/brokers.
competitive bidding
Competitive bidding involves an insured requesting coverage and premium quotations on its insurance program from a number of agents/brokers.
Additional Information
In some instances, insureds provide agents/brokers with detailed specifications upon which to base their quotations. Under other circumstances, conceptual proposals are requested under which the agents/brokers present proposals for coverage reflecting their own ideas for structuring the insured's program.
