Captive Insurance Consulting Services
Ended State & local contract Michigan Awarded
- Contract number
- MA230000001715
- Awardee
- INS REGULATORY INSURANCE SERVICES INC
- Contracting organization
- Department of Insurance and Financial Service
Contract facts
- Cumulative value
- $50,000
- End date
- Points of contact
-
- David Piner pinerd@michigan.gov (517) 284-8759
- Darcie Payne payned3@michigan.gov (517) 930-9402
- 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 consulting services to support the Michigan Department of Insurance and Financial Services (DIFS) in administering the state's captive insurance regulatory program under Public Act 29 of 2008. The scope of services includes licensing of captive insurers, regulatory compliance assistance, application reviews, regulatory examinations, and financial monitoring of captive insurance company statements. The contract operates on an hourly basis with firm pricing, utilizing a cost-reimbursable payment structure where invoices are submitted based on actual hours worked. Consulting services are provided at tiered hourly rates: $165 per hour for Project Manager and Supervising Consultant positions, and $145 per hour for Staff Level and Key Personnel Consultant positions.
The prime contractor is INS Regulatory Insurance Services, Inc., a Delaware Corporation, under contract with the Michigan Department of Insurance and Financial Services. The original contract period commenced November 1, 2023, with an initial estimated value of $50,000.00 and an original expiration date of October 31, 2025. A change notice exercising the first available two-year renewal option extended the contract term through October 31, 2027. The contract covers Michigan statewide and operates on an as-needed, indefinite delivery basis without specified minimum or maximum dollar amounts per task. Payment is processed through Electronic Funds Transfer within 45 days of invoice receipt, with biweekly progress reporting required from the contractor.
Files
| File | Type | Posted |
|---|---|---|
| 230000001715.pdf |
Quick answers
Who holds contract MA230000001715?
Contract MA230000001715 was awarded to INS REGULATORY INSURANCE SERVICES INC by Department of Insurance and Financial Service in Michigan on November 1, 2023.
How much is contract MA230000001715 worth?
Its cumulative value is $50,000.
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