Amendment No.2- Financial Examination Assistance Services - Solicitation No. MIA-FR-26-002- eMMA No.BPM057939.pdf

This is Amendment No. 2 to a Request for Proposals (RFP) issued by the Maryland Insurance Administration (MIA), Financial Regulation Division, for financial examination assistance services under Solicitation MIA/FR-26-002. The amendment revises the original RFP issue date from August 18, 2026, to September 1, 2026, and extends the proposal due date from September 11, 2026, to September 25, 2026, at 4:00 PM local time. This extension was granted to provide offerors additional time to prepare comprehensive proposals. The RFP seeks proposals for financial examination assistance across four functional areas: Staff Examiner, Senior Examiner, Examiner-In-Charge, and Senior Manager. The MIA intends to award up to six indefinite-quantity contracts for a five-year base term with no renewal options. All work will be performed under the direct supervision of an MIA Assistant Chief Examiner to support financial examinations of approximately 52 Maryland-domiciled insurers.

Historical spending data indicates anticipated utilization of approximately 2,000 hours for Senior Manager, 15,000 hours for Examiner-In-Charge, 15,000 hours for Senior Examiner, and 7,000 hours for Staff Examiner over the five-year contract period. Compensation is structured as fully loaded fixed hourly rates by functional area and contract year, with payment made directly by the insurer under examination based on actual hours worked. Contractors must demonstrate minimum qualifications including performance of at least five Risk Focused Examinations and two Coordinated Risk Focused Examinations within three years preceding proposal submission, and key personnel must hold appropriate certifications (CFE for Senior Managers and Examiners-In-Charge; AFE for Senior Examiners; bachelor's degree in accounting or related field for Staff Examiners). Insurance requirements include Commercial General Liability, Errors and Omissions/Professional Liability, Crime Insurance, Cyber Security/Data Breach Insurance, and Workers' Compensation. No federal funding is involved, and the RFP contains zero-percent MBE, VSBE, and DBE participation goals.