200000000055.pdf
PDF 10 MB Posted
- Contract number
- MA200000000055
- Issued by
- Michigan
About this file
This document comprises a Contract Change Notice (Change Notice No. 2) and related contractual materials between the State of Michigan, Department of Insurance and Financial Services (DIFS), and Paradigm Actuaries, LLC, an Illinois limited liability company. The original contract (No. 200000000055) was established on November 1, 2019, with an initial expiration date of October 31, 2022. The contract includes two, two-year renewal options at the state's discretion. David Piner serves as the Program Manager for the state, while Michele Sparks represents the contractor. The state's Contract Administrator was updated to Drew Simon as of the change notice effective date.
The contract provides captive insurance company actuarial examination services to support the Captive Unit's regulatory responsibilities in monitoring the financial solvency and legal compliance of Michigan-licensed captive insurance companies. Change Notice No. 2, effective November 21, 2023, exercises the final two-year option and increases the contract value by $30,000. The current contract value prior to this change was $60,000, bringing the total estimated aggregate contract value to $90,000. The revised contract expiration date is October 31, 2026. Payment terms are net 45 days, and pricing is based on hourly rates for actuarial consultants and analysts, ranging from $150 to $350 per hour depending on credentials and experience level. The contractor is responsible for conducting actuarial examinations, documenting findings, preparing examination reports, and maintaining confidentiality of sensitive information in compliance with Michigan Insurance Code Section 222(4).
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Text version
Revised 2/2019
CONTRACT CHANGE NOTICE
Change Notice Number 2.
to Contract Number 200000000055.
C O
N
TR
A C
TO
R
Paradigm Actuaries, LLC
ST
A
TE
Pr og ra m
M an ag er David Piner DIFS
4526 North Hermitage 517-284-8759
Chicago, IL 60640 pinerd@michigan.gov
Michele Sparks
C on tra ct
Ad m in is tra to r Drew Simon DIFS
312-953-3919 517-930-7725 michele@paradigmactuaries.net SimonD13@michigan.gov
CV0064821
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 $30,000.00 $90,000.00 DESCRIPTION: Effective 11-21-2023, this Contract is exercising the last two-year option and is increased by $30,000. The revised contract expiration date is 10-31-2026.
The Contract Administrator for the State has been updated to the following:
Drew Simon 517-930-7725 SimonD13@michigan.gov
Revised 2/2019
CHANGE NOTICE NO. 2 TO CONTRACT NO. 200000000055
FOR THE CONTRACTOR:
Paradigm Actuaries, LLC__________ Company Name
Authorized Agent Signature
Michele Sparks 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
Date
All other terms, conditions, specifications, and pricing remain the same. Per contractor and agency agreement, and DTMB Central Procurement Services approval.
File details come from the government source that posted it. Updated .