Captive Insurance Company Actuarial Examinations
Ended State & local contract Michigan Awarded
- Contract number
- MA200000000056
- Awardee
- PINNACLE ACTUARIAL RESOURCES, INC.
- Contracting organization
- Department of Insurance and Financial Service
Contract facts
- Cumulative value
- $30,000
- End date
- Points of contact
-
- David Piner pinerd@michigan.gov (517) 284-8759
- Matthew Torok torokm@michigan.gov (517) 284-8680
Contract details come from michigan.gov. Updated .
About this contract
This IDV provides captive insurance company actuarial examination services for Michigan-licensed captive insurance companies. The contract establishes a pre-qualified pool of consulting actuaries available to conduct actuarial examinations and related consulting services. Pinnacle Actuarial Resources provides qualified actuarial professionals at a standardized hourly rate of $385.00, with services procured through a two-tier competitive process whereby the initial contract pre-qualifies the vendor and subsequent examination assignments are awarded via competitive Request for Quote responses. All work products and documentation generated under the contract become the property of the Department of Insurance and Financial Services.
Pinnacle Actuarial Resources, Inc., an Illinois-based consulting firm, serves as the prime contractor for this IDV under the Michigan Department of Insurance and Financial Services. The contract became effective November 1, 2019, with an initial term through October 31, 2022. A contract change notice exercised a two-year renewal option, extending the period of performance through October 31, 2026. The contract type is designated as Department of Insurance and Financial Service, with coverage limited to the State of Michigan. The original contract value was $30,000, with an additional $30,000 added through change notice, establishing a total estimated aggregate contract value of $60,000. A 2 percent invoice discount applies for payments made within 10 days of receipt, and the contractor remits a 1 percent administrative fee on all payments with a Net 45-day payment term.
Files
| File | Type | Posted |
|---|---|---|
| 200000000056.pdf |
Quick answers
Who holds contract MA200000000056?
Contract MA200000000056 was awarded to PINNACLE ACTUARIAL RESOURCES, INC. by Department of Insurance and Financial Service in Michigan on January 11, 2019.
How much is contract MA200000000056 worth?
Its cumulative value is $30,000.
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