Captive Insurance Company Actuarial Examinations
Ended State & local contract Michigan Awarded
- Contract number
- MA200000000054
- Awardee
- LEWIS & ELLIS INC
- Contracting organization
- Department of Insurance and Financial Service
Contract facts
- Cumulative value
- $60,000
- End date
- Points of contact
-
- David Piner pinerd@michigan.gov (517) 284-8759
- Matthew Torok torokm@michigan.gov (517) 284-8680
- Drew Simon simond13@michigan.gov (517) 930-7725
Contract details come from michigan.gov. Updated .
About this contract
This Indefinite Delivery Vehicle provides captive insurance company actuarial examination services to the State of Michigan. The contract encompasses comprehensive actuarial examination services designed to assess the solvency and regulatory compliance of Michigan-licensed captive insurance companies. Services are delivered on an hourly basis with differentiated rates for various professional positions, including Managing Actuaries, Examining Actuaries, Staff Actuaries, Senior Actuarial Associates, Actuarial Associates, and administrative support personnel. These examinations serve as critical compliance tools to ensure that captive insurers maintain appropriate financial reserves and adhere to state insurance regulations.
The prime contractor for this IDV is Lewis & Ellis Inc., a Texas-based corporation, with the contracting organization being the Michigan Department of Insurance and Financial Services (DIFS). The contract was awarded on January 11, 2019, with an initial period extending through October 31, 2026, following the exercise of available option periods through Change Notice Number 3, effective November 21, 2023. The estimated aggregate contract value is $85,000, with hourly rates ranging from $100.00 for administrative services to $280.00 for managing and examining actuaries. This IDV provides statewide coverage throughout Michigan and operates under a time-and-materials contract structure with Net 45 payment terms.
Files
| File | Type | Posted |
|---|---|---|
| 200000000054.pdf |
Quick answers
Who holds contract MA200000000054?
Contract MA200000000054 was awarded to LEWIS & ELLIS INC by Department of Insurance and Financial Service in Michigan on January 11, 2019.
How much is contract MA200000000054 worth?
Its cumulative value is $60,000.
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