200000000054.pdf

This document is a Contract Change Notice (Change Notice Number 3) to Contract Number 200000000054 between the State of Michigan, Department of Insurance and Financial Services (DIFS), and Lewis & Ellis Inc., a Texas corporation. The contract is for Captive Insurance Company Actuarial Examinations. The change notice, effective November 21, 2023, exercises the last of two available two-year options and extends the contract term through October 31, 2026. The contract administrator for the state has been updated to Drew Simon at DIFS (517-930-7725, SimonD13@michigan.gov), and the contractor's primary contact is Kimberly Shores at Lewis & Ellis Inc. (913-491-3388, kshores@lewisellis.com).

The contract provides actuarial examination services for Michigan-licensed captive insurance companies, with a focus on determining solvency and compliance with state regulations. Change Notice 3 increases the contract value by $25,000, bringing the estimated aggregate contract value from $60,000 to $85,000. Pricing for the examination services is based on hourly rates for various positions: Managing Actuary, Examining Actuary, and Staff Actuary at $280.00 per hour; Senior Actuarial Associate at $220.00 per hour; Actuarial Associate at $190.00 per hour; and Administration at $100.00 per hour. Payment terms are Net 45 days from invoice receipt. The contractor must submit invoices in accordance with state requirements and submit detailed documentation of contract activities. All other contract terms, conditions, and specifications remain unchanged.