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About insurance.
Insurance, in law and economics, is a form of danger management primarily used to hedge against
the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss,
from one entity to another, in exchange for a premium. Insurer, in economics, is the company
that sells the insurance. Insurance rate is a factor used to determine the amount, called the premium,
to be charged for a certain amount of insurance coverage. Risk management, the practice of
appraising and controlling risk, has evolved as a discrete field of study and practice.
Invoicing and Payment Procedures.
Invoicing - You must determine the invoicing and payment procedures. This model is written
as a requirements type contract. This means that the contract itself is not funded. Rather,
funded task orders are issued, normally monthly, quarterly or semi-annually, ordering insurance
for the estimated number of employees during that time period. The task orders are prospective,
not retrospective. Since employee rolls change frequently, subsequent task order modifications
or new task orders should be used as more employees are added or removed from coverage.
An S&E fund citation should be available each quarter, and although the premium deductions are
taken each pay period, the Disbursing Office could hold the premiums in an account until the monthly
or quarterly invoice is received, at which point the contractor would be paid. Since coverage starts
on the first day of the performance period, the contractor could properly invoice for the period
funded by the task order on the first day covered by that task order. Payment made against this
invoice would not be considered an advance payment under the FAR.
Solicitation issuance.
Increasingly post procurement personnel use their Embassy website to post solicitations. That is a
good thing to do especially when interest only from local sources is anticipated. However, if you
believe offshore firms (U.S. and other international firms) may be interested in this solicitation and
can operate in your country, then you may want to consider working with your A/OPE desk officer
to launch the solicitation on the internet. If you choose this course of action, we recommend not
posting the solicitation on the Embassy website, but instead, posting a notice on the Embassy website
that directs readers to the internet site. We recommend this so that you don’t run the risk of different
versions of the solicitation, amendment(s) and/or questions and answers somehow being posted
on the two websites. However you issue the solicitation, please ensure you appropriately advertise
locally to the fullest extent practical.
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Site map.
About insurance.
Life insurance.
Home insurance.
Car insurance.
Travel insurance.
Contacts.
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