200000000053.pdf
PDF 11 MB Posted
- Contract number
- MA200000000053
- Issued by
- Michigan
About this file
This document comprises Contract Change Notice No. 2 to Contract No. 200000000053 between the State of Michigan, Department of Insurance and Financial Services (DIFS), and INS Consultants, Inc. The contract was originally executed on November 1, 2019, and this change notice, effective November 21, 2023, exercises the last available two-year renewal option, extending the contract term through October 31, 2026. Key personnel include Program Manager David Piner and Contract Administrator Drew Simon for the State, and Contractor Representative Annette Knief, President and Managing Partner of INS Consultants, Inc.
The contract provides captive insurance company actuarial examination services to support DIFS's regulatory oversight of Michigan-licensed captive insurance entities. The contract value increases by $60,000 with this change notice, bringing the total estimated aggregate contract value to $120,000. Pricing is established on an hourly basis with rates for Chief Life/Health Actuaries, Lead Life/Health Actuaries, and Staff Life/Health Actuaries at $225.00 per hour, and Chief Property/Casualty Actuaries at $275.00, Lead Property/Casualty Actuaries at $270.00, and Staff Property/Casualty Actuaries at $270.00 per hour. Payment terms are Net 45, with a 2% discount offered for payment within 15 days of invoice receipt. The contract operates as an indefinite delivery vehicle under which specific examination assignments are issued through individual Requests for Quote, with deliverables including examination reports, findings, and compliance documentation for captive insurance companies licensed in Michigan.
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Text version
Revised 2/2019
CONTRACT CHANGE NOTICE
Change Notice Number 2.
to Contract Number 200000000053.
C O
N
TR
A C
TO
R
INS Consultants, Inc.
ST
A
TE
Pr og ra m M an ag er
David Piner DIFS
419 S. 2nd Street New Market, Suite 206
517-284-8759
Philadelphia, PA pinerd@michigan.gov
Annette Knief
C on tra ct
Ad m in is tra to r Drew Simon DIFS
610-213-0781 517-930-7725 aknief@theinscompanies.com SimonD13@michigan.gov
CV0058692
STATE OF MICHIGAN PROCUREMENT
Department of Insurance and Financial Services
530 W Allegan St., Lansing MI 48933
CONTRACT SUMMARY
DESCRIPTION: Captive Insurance Company Actuarial Examinations
INITIAL EFFECTIVE DATE INITIAL EXPIRATION DATE
INITIAL AVAILABLE
OPTIONS
EXPIRATION DATE BEFORE
CHANGE(S) NOTED BELOW
11-01-2019 10-31-2022 2, two-year options 10-31-2024
PAYMENT TERMS DELIVERY TIMEFRAME
Net 45
ALTERNATE PAYMENT OPTIONS EXTENDED PURCHASING
☐ P-card ☐ Payment Request (PRC) ☐ Other ☐ Yes ☒ No
MINIMUM DELIVERY REQUIREMENTS
DESCRIPTION OF CHANGE NOTICE
OPTION LENGTH OF OPTION EXTENSION LENGTH OF
EXTENSION REVISED EXP. DATE
☒ 2 years ☐ 10-31-2026
CURRENT VALUE VALUE OF CHANGE NOTICE ESTIMATED AGGREGATE CONTRACT VALUE
$60,000.00 $60,000.00 $120,000.00 DESCRIPTION: Effective 11-21-2023, this Contract is exercising the last two-year option and is increased by $60,000. The revised contract expiration date is 10-31-2026. Pricing has been updated for the remainder of the contract per the attached Schedule B.
In addition, the Contract Administrator for the Contractor has been updated to the following:
Annette Knief 913-568-7725 aknief@theinscompanies.com
CHANGE NOTICE NO. 2 TO CONTRACT NO. 200000000053
FOR THE CONTRACTOR:
INS Consultant, Inc.__________ Company Name
Authorized Agent Signature
Annette Knief, President and Managing Partner_ Authorized Agent (Print or Type)
Date
FOR THE STATE:
Signature
Megan Ramos, CFO and Budget Director Name & Title
MI Department of Insurance and Financial Services Agency
The Contract Administrator for the State has been updated to the following:
Drew Simon 517-930-7725 SimonD13@michigan.gov
All other terms, conditions and specifications remain the same. Per contractor and agency agreement, and DTMB Central Procurement Services approval.
Date
INS Consultants, Inc.
Version 1 Revised Date: 7/28/2017
STATE OF MICHIGAN
Request For Proposal No. 190000002412
CAPTIVE INSURANCE COMPANY ACTUARIAL EXAMINATIONS
SCHEDULE B
PRICING
1. The Contractor is encouraged to offer quick payment terms. The number of days must not include processing time for payment to be received by the Contractor's financial institution.
Quick payment terms: 2 % discount off invoice if paid within 15 days after receipt of invoice.
2. By submitting its proposal, the Contractor certifies that the prices were arrived at independently, and without consultation, communication, or agreement with any other Contractor.
3. The price proposal will be submitted in accordance with the second tier, competitive selection process as explained in Schedule A.
Staff/Role Hourly Rate
Chief Life/Health Actuary $225.00
Lead Life/Health Actuary $225.00
Staff Life/Health Actuary $225.00
Chief Property/Casualty Actuary $275.00
Lead Property/Casualty Actuary $270.00
Staff Property/Casualty Actuary $270.00
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