Captive Insurance Company Actuarial Examinations
Ended State & local contract Michigan Awarded
- Contract number
- MA200000000055
- Awardee
- PARADIGM ACTUARIES LLC
- 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
- Drew Simon simond13@michigan.gov (517) 930-7725
- Matthew Torok torokm@michigan.gov (517) 284-8680
Contract details come from michigan.gov. Updated .
About this contract
This indefinite delivery vehicle provides captive insurance company actuarial examination services to support the Michigan Department of Insurance and Financial Services' regulatory oversight functions. The contract scope encompasses actuarial examinations of Michigan-licensed captive insurance companies, including the documentation of examination findings, preparation of comprehensive examination reports, and assessment of financial solvency and legal compliance. Services are provided on an as-needed basis to ensure the Captive Unit can effectively monitor the regulatory status and financial health of captive insurers operating within the state. Pricing is structured on an hourly rate basis, with actuarial consultant and analyst rates ranging from $150 to $350 per hour depending on professional credentials and experience level.
The prime contractor for this vehicle is Paradigm Actuaries LLC, an Illinois-based limited liability company, under a contract awarded by the Michigan Department of Insurance and Financial Services on January 11, 2019. The contract period of performance extends from November 1, 2019, through October 31, 2026, with two, two-year renewal options exercised at the state's discretion. The contract covers the state of Michigan and is classified as a Department of Insurance and Financial Services contract type. The total estimated aggregate contract value is $90,000, with payment terms set at net 45 days. The contractor is required to maintain strict confidentiality of all sensitive information in accordance with Michigan Insurance Code Section 222(4).
Files
| File | Type | Posted |
|---|---|---|
| 200000000055.pdf |
Quick answers
Who holds contract MA200000000055?
Contract MA200000000055 was awarded to PARADIGM ACTUARIES LLC by Department of Insurance and Financial Service in Michigan on January 11, 2019.
How much is contract MA200000000055 worth?
Its cumulative value is $60,000.
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