Captive Insurance Company Financial Examinations
Ended State & local contract Michigan Awarded
- Contract number
- MA200000000044
- Awardee
- INS REGULATORY INSURANCE SERVICES INC
- Contracting organization
- Department of Insurance and Financial Service
Contract facts
- Cumulative value
- $325,000
- End date
- Points of contact
-
- David Piner pinerd@michigan.gov (517) 284-8759
- Matthew Torok torokm@michigan.gov (517) 284-8680
- Darcie Payne payned3@michigan.gov (517) 930-9402
Contract details come from michigan.gov. Updated .
About this contract
The Michigan Department of Insurance and Financial Services IDV provides specialized financial examination services for captive insurance companies licensed within the state. This indefinite delivery vehicle supplies qualified examiners to conduct risk-focused financial examinations of Michigan-licensed captive insurers, ensuring regulatory compliance and financial stability. Services are delivered on an hourly basis, with compensation rates ranging from $130.00 to $165.00 per hour depending on staff classification and travel requirements. All examination deliverables, including financial examination reports and supporting work papers, become the property of the Captive Unit upon completion and must be submitted electronically to the state.
The prime contractor for this IDV is INS Regulatory Insurance Services, Inc., a Delaware Corporation headquartered in Philadelphia, Pennsylvania, operating under contract number MA200000000044 with the Michigan Department of Insurance and Financial Services. The contract was originally executed on November 1, 2019, with an initial term through October 31, 2022, and includes two exercised two-year renewal options, extending the period of performance through October 31, 2026. The current estimated aggregate contract value is $325,000.00 following Change Notice No. 4, effective March 18, 2025. This procurement vehicle covers the state of Michigan and operates on a time-and-materials contract type with invoicing submitted through the state's electronic funds transfer system on Net 45 payment terms.
Files
| File | Type | Posted |
|---|---|---|
| 200000000044.pdf |
Quick answers
Who holds contract MA200000000044?
Contract MA200000000044 was awarded to INS REGULATORY INSURANCE SERVICES INC by Department of Insurance and Financial Service in Michigan on January 11, 2019.
How much is contract MA200000000044 worth?
Its cumulative value is $325,000.
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