Subrogation
Description
This tender seeks specialized legal services related to subrogation for the City of Chicago's Department of Finance. Subrogation, in insurance and legal contexts, refers to the right of an insurer or a third party to pursue recovery from a responsible party after having paid a claim or suffered a loss. The procurement is being managed by the Comptroller's office within the Department of Finance, indicating a focus on financial recovery and claim resolution.
The contracting authority is the City of Chicago, United States. The specific contract type is identified as "COMPTROLLER-OTHER," suggesting a non-standard or specialized service agreement falling under the purview of the Comptroller's oversight. While the vendor COGHLAN LAW LLC is listed, this description is intended for a public tender notice, indicating an opportunity for other qualified legal firms to bid on similar or future subrogation services.
Typical requirements for such tenders would include demonstrated expertise in subrogation law, a proven track record of successful recovery for clients, and the capacity to manage a portfolio of subrogation claims efficiently. Bidders would likely be expected to present a comprehensive understanding of relevant state and federal laws, robust investigative capabilities, and a transparent fee structure. The objective is to secure a legal partner capable of maximizing financial recovery for the City of Chicago through diligent pursuit of subrogation rights across various types of claims.
About This Opportunity
This is a services contract in the finance and banking and legal services sectors, with a focus on Insurance and Investment. Located in United States, North America, this opportunity is open to firms and consortiums.
Published through Chicago Contracts, a national government procurement portal. Public procurement tenders follow the country's national bidding regulations and may have specific eligibility and documentation requirements for services in the finance and banking sector. Service contracts are typically evaluated on both technical quality and price, and may require bidders to demonstrate relevant experience and qualified personnel. This contract has already been awarded. The information is published for transparency and market intelligence purposes.