Description
The Texas Prepaid Higher Education Tuition Board is seeking a qualified insurance and risk management brokerage services provider to assist with finding the most appropriate and cost-effective insurance solutions for its specific circumstances. The selected respondent will act as the Board's advocate in the insurance market, advise on insurance solutions, and recommend options to the Board. The scope of work includes coverage assessment and recommendations, policy recommendation process, selection process, post-selection duties, and claims process.
• The Board is responsible for managing $2.8B in assets and an estimated 150,000 accounts owned by individuals participating in Texas college savings plans and Texas ABLE.
• The Board's mission is to assist Texas families by providing a means to save sufficient funds for higher education through the Texas Guaranteed Tuition Plan, the Texas Tuition Promise Fund, the Texas College Savings Plan, and the LoneStar 529 Plan.
• The Board administers several qualified tuition and savings plans, including the Texas Guaranteed Tuition Plan, the LoneStar 529 Plan, the Texas College Savings Plan, and the Texas Tuition Promise Fund.
• The selected respondent will be required to provide written recommendations to Comptroller staff regarding coverage options and assist in the selection of insurers and policies.
• The initial term of the contract will begin on September 1, 2026, and terminate on August 31, 2027, with options to extend for three additional one-year periods.