Life/Health, Property/Casualty Actuarial Services and Rate Review Services
Active State & local contract Michigan Awarded
- Contract number
- MA240000001431
- Awardee
- NATIONAL ACTUARIAL NETWORK INC
- Contracting organization
- Department Technology, Management and Budget
Contract facts
- Cumulative value
- $1,863,636
- End date
- Points of contact
-
- Mary Ostrowski ostrowskim@michigan.gov (517) 249-0438
- Julie Merriman merrimanj2@michigan.gov (517) 230-9633
Contract details come from michigan.gov. Updated .
About this contract
The Department of Technology, Management and Budget Indefinite Delivery Vehicle provides Life/Health and Property/Casualty insurance actuarial services, along with rate review services available on an as-needed basis. This IDV contract is designed to support the State of Michigan and eligible MiDEAL members—including local units of government, school districts, universities, community colleges, and nonprofit hospitals—in obtaining specialized actuarial expertise for insurance-related matters. Services are delivered through hourly rate-based pricing, with rates ranging from $35.00 per hour for Administrative Associates to $210.00 per hour for Lead Actuaries, and an incentive discount of 3% is available for invoices paid within 15 days. Projects are assigned on a rotating basis according to contractor qualifications and relevant insurance line experience.
National Actuarial Network, Inc., a New Jersey corporation, serves as the prime contractor for this IDV awarded by the State of Michigan's Department of Technology, Management and Budget. The contract period runs from February 1, 2025, through January 31, 2028, with three optional one-year renewal periods available at the state's discretion. The estimated contract value at execution is $1,863,636.00. The contract is classified as a Department Technology, Management and Budget contract type and applies to the State of Michigan. The contractor is required to maintain $3,000,000 in Professional Liability insurance coverage and must remit a 1% administrative fee on all payments while submitting quarterly purchasing activity reports.
Files
| File | Type | Posted |
|---|---|---|
| 240000001431.pdf |
Quick answers
Who holds contract MA240000001431?
Contract MA240000001431 was awarded to NATIONAL ACTUARIAL NETWORK INC by Department Technology, Management and Budget in Michigan on February 1, 2025.
How much is contract MA240000001431 worth?
Its cumulative value is $1,863,636.
On GovTribe
See this contract's full record
- Every award placed under it, line item and file
- Track it in your pipeline
- Similar state and local contracts and opportunities
- Ask GovTribe AI about this contract