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

Financial Examination Assistance Services Solicitation #: MIA/FR-26-002 eMMA#:BPM057939 RFP Document

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STATE OF MARYLAND

MARYLAND INSURANCE ADMINISTRATION (MIA)

REQUEST FOR PROPOSALS (RFP)

FINANCIAL REGULATION UNIT

FINANCIAL EXAMINATION ASSISTANCE SERVICES

RFP NUMBER MIA/FR-26-002 EMMA#: BPM057939

ISSUE DATE: WEDNESDAY, JULY 22,2026

A Prospective Offeror that has received this document from a source other than eMarylandMarketplace Advantage (eMMA) https://procurement.maryland.gov should register on eMMA https://emma.maryland.gov/

MINORITY BUSINESS ENTERPRISES ARE ENCOURAGED TO RESPOND TO THIS

SOLICITATION.

https://procurement.maryland.gov/ https://emma.maryland.gov/

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STATE OF MARYLAND

MARYLAND INSURANCE ADMINISTRATION (MIA)

KEY INFORMATION SUMMARY SHEET

Request for Proposals Services - Financial Examination Assistance Services

Solicitation Number: MIA/FR-26-002 eMMA#: BPM057939

RFP Issue Date: Wednesday, July 22,2026

RFP Issuing Office: Maryland Insurance Administration (MIA or the "Administration ")

Procurement Officer: Anthonia Chuku Maryland Insurance Administration 200 St. Paul Place, Suite 2700 Baltimore, MD 21202

Email:

Phone Number:

Anthonia.chuku3@maryland.gov cc: Procurement.mia@maryland.gov

(410) 468-2374 (Office)

(443) 615-4741 (Cell)

Proposals are to be sent to:

Proposals will be accepted through the State's eMaryland Marketplace Advantage (eMMA) e-Procurement system. To submit a proposal, offerors must first register on emma.maryland.gov. We recommend registering in advance to become acquainted with the site. Instructions on how to submit proposals electronically can be found at:

https://procurement.maryland.gov/wp-content/uploads/sites/12/2019/08/5-eMMA-QRG-Responding-to-Solicitations-Double-Envelope-v2.pdf Submit on emma.maryland.gov under Solicitation Number MIA/FR-26- 002 eMMA#: BPM057939

No Bid/Proposal Notice Feedback Form

*If you are not submitting a proposal for this solicitation, submit Attachment 1 with your reasons why.

Pre-Proposal Conference:

Thursday, August 06,2026, at 10:00 am. EST (Google Hangouts Virtual Teleconference by Calendar Invitation from Procurement Officer Only.)

See Section 4.3 for additional details.

See Attachment 2 to RSVP by Monday, August 03,2026, at 11.00 AM to Attend mailto:Anthonia.chuku3@maryland.gov https://procurement.maryland.gov/wp-content/uploads/sites/12/2019/08/5-eMMA-QRG-Responding-to-Solicitations-Double-Envelope-v2.pdf https://procurement.maryland.gov/wp-content/uploads/sites/12/2019/08/5-eMMA-QRG-Responding-to-Solicitations-Double-Envelope-v2.pdf

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Questions Due Date and Time:

Monday, August 10, 2026, by 4:00 PM Local Time.

Proposal Due (Closing) Date and Time:

Monday, September 07, 2026, by 3:00PM Local Time Offerors are reminded that a completed Feedback Form is requested if a no-bid/proposal decision is made (see Attachment 1 - No Bid Notice/Vendor Feedback Form).

MBE [[OR]] DBE

Subcontracting Goal:

An overall Minority Business Enterprise (MBE) or Disadvantaged Business Enterprise (DBE) subcontract participation goal of 0 percent of the total contract dollar amount, including all renewal option terms, if any, has been established for this procurement. The overall MBE or DBE subcontract participation goal includes the following subgoals, which have been established for this procurement:

0 % for African-American MBEs;

0 % for Asian-American MBEs;

0 % for Hispanic-American MBEs; and 0 % for Woman-Owned MBEs.

Refer to Exhibit 1 for information on how goal setting was determined.

Also, refer to Appendix 4 for information about the MBE or DBE program and goals.

VSBE Subcontracting Goal:

This solicitation includes a VSBE participation Goal of 0 % Refer to Exhibit 1 for information on how goal setting was determined.

Also, refer to Appendix 5 for information about the VSBE program and goals.

Procurement Method: A Contract will be awarded in accordance with the Competitive Sealed Proposals method under COMAR 21.05.03.

Multiple or Alternate Bids:

1 Multiple or alternate Proposals will not be accepted.

Contract Type: Indefinite Quantity with Fully Loaded Fixed Hourly Rates.

Contract Duration: Five (5) year base period with no renewal option.

Primary Place of Performance:

Varies based on location of company subject to examination

SBR Designation: No

Small Business Preference (SBP):

No

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Federal Funding: No

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TABLE OF CONTENTS – RFP

1 Minimum Qualifications

1.1 Offeror Minimum Qualifications

2 Contractor Requirements: Scope of Work

2.1 Summary Statement

2.2 Background and Purpose

2.3 Contractor Responsibilities and Tasks

2.5 Experience and Personnel

2.5 Substitution of Personnel

2.6 Supplemental Category of Work Requirements and Responsibilities

3 Standard Terms and Conditions

3.1 Contract Initiation Requirements

3.2 End of Contract Transition

3.3 Payment and Invoicing

3.4 Problem Escalation Procedure

3.5 Work Orders

3.6 Assignment of Work Under the Contract

3.7 Prompt Payment Policy

3.8 Federal Funding Acknowledgement

3.9 Conflict of Interest Affidavit and Disclosure

3.10 Non-Disclosure Agreement

3.11 Maryland Healthy Working Families Act Requirements

3.12 The State of Maryland’s Commitment to Purchasing Environmentally Preferred Products and Services (EPPs)

3.13 Insurance Requirements

3.14 Non-Compete Clause Prohibition

3.15 Intergovernmental Cooperative Purchasing

3.16 Investment Activities in Iran

3.17 Corporate Diversity Affidavit

4 Proposal Submission Information and Instructions

4.1 eMaryland Marketplace Advantage (eMMA)

4.2 Electronic Means

4.3 Pre-Proposal Conference

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4.4 Questions

4.5 Proposal Due (Closing) Date and Time

4.6 Economy of Preparation

4.7 Public Information Act Notice

4.8 Oral Presentation

4.9 Duration of Proposals

4.10 Revisions to the RFP

4.11 Cancellations

4.12 Incurred Expenses

4.13 Protest/Disputes

4.14 Offeror Responsibilities

4.15 Acceptance of Terms and Conditions

4.16 Compliance with Laws/Arrearages

4.17 Verification of Registration and Tax Payment

4.18 False Statements

5 Proposal Format

5.1 Two Part Submission

5.2 Proposal Delivery and Packaging

5.3 Volume I - Technical Proposal

5.5 Volume II – Financial Proposal

6 Evaluation and Selection Process

6.1 Evaluation Committee

6.2 Technical Proposal Evaluation Criteria

6.3 Financial Proposal Evaluation Criteria

6.4 Reciprocal Preference

6.5 Selection Procedures

6.6 Documents Required upon Notice of Recommendation for Contract Award RFP Attachments (Table B)

7 RFP Appendices and Exhibits

7.1 Appendices (Table C)

7.1 Exhibits (Table D)

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1 Minimum Qualifications

1.1 Offeror Minimum Qualifications

The Offeror must document in its Proposal that it satisfies the following Minimum Qualifications:

A. The Offeror shall have performed at least five (5) Risk Focused Examinations as outlined in the National Association of Insurance Commissioner’s (NAIC)’s Financial Condition Examiners Handbook 2025 within the three (3) years preceding the date of its Proposal submission to this RFP.

As proof of meeting this requirement, the Offeror shall provide the following information for each examination:

1. Name of the entity examined and date of examination;

2. Name, title, email address and telephone number of point of contact for the organization who can verify that examinations were performed; and

3. The type of work performed on the examination, the dollar value, type, timeframe and duration of contract(s) for examination services for the client organization.

B. The Offeror must have completed at least two (2) Coordinated Risk Focused Examinations as outlined in the National Association of Insurance Commissioners’ (NAIC)’s Financial Condition Examiners Handbook 2025 within the three (3) years preceding the date of its Proposal submission to the RFP.

As proof of meeting this requirement, the Offeror shall provide the following information:

1. Name of the entity examined and type of examination performed (i.e. Full Scope, Limited Scope, Interim Work, etc.) ; and

2. Name, title, email address and telephone number of point of contact for the organization who can verify that examinations were performed; and

3. List the Offeror’s participation level on each coordinated exam (Lead State/Participating State) and the number of other States involved in the examination.

The Offeror shall provide with its Proposal "Attachment L Reference Checks" with three (3) references filled out.

THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.

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2 Contractor Requirements: Scope of Work

2.1 Summary Statement

This Request for Proposals (RFP) is issued to procure the goods or services, as specified in this Section 2, from a contract between the selected offeror(s) and the State of Maryland (“State”). The Maryland Insurance Administration (MIA) is issuing this Request for Proposals (RFP) in order to obtain staffing assistance for financial examinations.

It is the State’s intention to obtain goods and services, as specified in this RFP, from a contract between the selected Offeror and the State.

The MIA intends to make up to six (6) contract awards. The services to be performed by the selected Contractors encompass four (4) primary functional areas. The Contractor shall provide staff on an as needed basis as requested by the MIA for each Primary functional areas and shall ensure that the staff meets at least the minimum acceptable standards set out in Section 2.5 of this RFP. At the discretion of the MIA, selected Contractors shall provide for each of the four (4) primary functional categories:

Senior Manager (SM), Examiner-In-Charge (EIC), Senior Examiner (SE), and Staff Examiner (STE).

Selected Contractor(s) shall be able to provide services in one or more of the four (4) primary functional areas. See RFP Section 6.5 Selection Procedures for more Contract award information.

A Contract award does not ensure a Contractor will receive all or any State business under the Contract.

2.2 Background and Purpose

2.2.1 Background and Purpose

The MIA is the independent state agency that regulates the insurance industry. The MIA is authorized to conduct a financial examination of an authorized insurer, the management company of an authorized insurer, a subsidiary owned or controlled by an authorized insurer, a rating organization, dental plan organization, nonprofit health service organization, or an authorized health maintenance organization whenever the Commissioner deems it advisable. See Ins. Art. §§ 2-205, 14-125 and 14-411. See also Health General Art. § 15-102.3. The MIA is also authorized to conduct a financial examination of domestic insurers, health maintenance organizations, and managed care organizations at least once every five years. See Ins. Art. §§ 2-205. See also Health General Art. § 15-102.3(f). See Ins. Art. §§ 2-205, 14-125 and 14-411. See also Health General Art. § 15-102.3.

The MIA’s Financial Regulation (FR) Unit is responsible for carrying out these examinations.

There are approximately fifty-two (52) such companies domiciled in the State of Maryland. The purpose of these examinations is to ensure the continued financial solvency of insurers authorized to do business in Maryland and ensuring compliance with NAIC’s requirements and Maryland law. The MIA's FR Unit also performs limited scope examinations as a result of specific concerns.

The MIA does not have sufficient staff to perform these examinations, and is therefore, issuing this solicitation is to procure staffing assistance for financial examinations. A successful Offeror, either directly or through its Subcontractors, must be able to provide all goods and services and meet all of the requirements requested in this solicitation. The successful Offeror (the Contractor) shall remain responsible for Contract performance regardless of Subcontractor participation in the work.

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2.2.2 Historical Information

The following is an estimate of the total hours expended by previous contractors collectively for the period February, 2022 through December, 2025:

Functional Area Expended Senior Manager Services 1,640 hours Examiner-In-Charge Services 10,750 hours Senior Examiner Services 11,036 hours Staff Examiner Services 5,410 hours

The total anticipated hours are listed below for each proposed Functional Area (see Section 2.3), and represent the estimated number of hours needed for the entire term of the contract and attributable to all approved Contractors:

The numbers in Section 2.2.2 are provided for informational purposes only, and are not a guarantee of the minimum or maximum number of hours of work under the Contract(s).

2.2.3 State Staff and Roles

In addition to the Procurement Officer and Contract Monitor, the State project team consists of the following:

A. State Project Manager.

The State Contract Monitor is responsible for continuous contract oversight, including:

1. Contact with the Contractor to resolve any work related issues.

2. Primary contact for Performance Escalation Procedures (PEP), if needed and as appropriate.

3. Contract Compliance Monitoring as needed and as appropriate.

B. The Chief Examiner.

The Chief Examiner is responsible for managing the Examination Unit.

C. The Assistant Chief Examiner.

The Assistant Chief Examiner is responsible for supervising the Examination.

D. The Examiner-In-Charge (EIC).

The EIC functions as the day-to-day lead worker.

Functional Area Anticipated (hours)

Senior Manager Services 2,000

Examiner-In-Charge Services 15,000

Senior Examiner Services 15,000

Staff Examiner Services 7,000

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2.3 Contractor Responsibilities and Tasks

Offerors, either exclusively or in combination with Subcontractors, must be able to provide all of the services requested and meet all of the requirements set forth in this solicitation, including those described below.

2.3.1 Technical Requirements

A. Scope of Services by Each Functional Area.

The services to be performed by the selected Contractors encompass four (4) primary Functional Areas, as follows:

1. Functional Area: Senior Manager Assistance

Description – Provide qualified Senior Management level examination consultant on an as-needed basis. Usage of Senior Management Assistance is anticipated only on special, unusual issues and is expected to be minimal during the contract period.

Specific needs of Senior Management Assistance will vary throughout the contract period, dependent upon the activities of the examination teams and the entities subject to examination.

Duties: Function in a senior management consultant capacity on a project in accordance with the NAIC’s Financial Condition Examiners Handbook in effect at the time of the examination.

Potential Tasks may include, but are not limited to:

A. assist the MIA and the examination team in reviewing complex insurer agreements and transactions; and

B. prepare reports on examination issues for the Assistant Chief Examiner or Chief Examiner.

2. Functional Area: Examiner-In-Charge Services

Description – Provide qualified Examiner-In-Charge (EIC) to conduct financial examinations of companies under the direction of an MIA assigned Assistance Chief Examiner (ACE), and/or Contractor Senior Manager Assistance.

Duties: Function as a Contract Representative in an in-charge capacity while conducting financial examinations of companies in accordance with the NAIC’s Financial Condition Examiners Handbook in effect at the time of the examination.

A. develop a plan for each examination, which includes:

(a) reviewing relevant procedures and internal controls of the Companies being examined;

(b) documenting the exam through the preparation of work papers;

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(c) developing procedures to verify or establish year-end valuations of the Company’s assets and liabilities; and

(d) testing the Company’s compliance with Maryland laws, rules, and regulations.

B. ensure that the examination is conducted, and the work performed is documented, in accordance with the NAIC Financial Condition Examiners Handbook, and that the completed work product meets the standards of the NAIC Accreditation Program Manual;

C. actively train MIA staff examiners and senior examiners in the conduct of financial examination through on-the-job training, effective usage of coaching tactics and other means available to the EIC;

D. oversee the day-to-day progress of the examination, including supervising all staff examiners and specialists assigned to the examination;

E. submit bi-weekly status reports to the MIA’s ACE and CE regarding the status of the examination;

F. hold bi-weekly or monthly status meetings with the entity under examination to discuss the status of the examination;

G. prepare a report on the examination and management letter, detailing the results of the examination. (Interested Offerors may obtain the past reports from the MIA website at apps.insurance.maryland.gov/CompanyProducerInfo/ ; and

H. perform other work as directed by the MIA ACE or Senior Manager.

3. Functional Area: Senior Examiner Services

Description –Provide qualified Senior Examiner(s) to conduct financial examinations of entities subject to the day-to-day supervision of an EIC, and under the direction of an assigned MIA ACE.

Duties: Conduct financial examinations of entities in accordance with the NAIC’s Financial Condition Examiners Handbook in effect at the time of the examination.

A. the same functions as a staff examiner (See RFP Section 2.4);

B. examine more complex, high-risk areas of an insurer’s operations;

C. assist in the day-to-day supervision of staff examiners;

D. assist the EIC in the conduct of on-the job training of staff examiners;

https://www.apps.insurance.maryland.gov/CompanyProducerInfo/

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E. test the company’s compliance with the Maryland laws, rules and regulations;

F. perform any other work as directed by the EIC or the MIA ACE; and

G. replace EIC during the examination in the event the EIC is no longer able to perform duties.

4. Functional Area: Staff Examiner Services

Description - Conduct financial examinations of entities subject to the day-to-day supervision of the Examiner-In-Charge, and under the direction of an assigned MIA Assistant Chief Examiner or Contractor Senior Manager.

Duties: Conduct financial examination of insurance companies in accordance with the NAIC’s Financial Condition Examiners Handbook in effect at the time of the examination.

A. perform a review of the company’s business policies, practices and procedures and internal controls;

B. document the review by the preparation of work papers;

C. perform procedures to verify or establish year-end valuations of the company’s assets and liabilities;

D. test the company’s compliance with the Maryland laws, rules and regulations; and

E. perform any other work as directed by the EIC or the MIA ACE.

2.3.2 Staffing Requirements.

A. The Contractor shall provide staff on an as needed basis, and as requested by the MIA, for the Functional Area covered by the State Contract, and shall ensure that the staff meets at least the minimum acceptable standards set out in Section 2.4 (Offeror Experience and Personnel Requirements) of this RFP.

B. Assigned Contractor Personnel must use the TeamMate+ platform project management system to house all of the examination work papers.

2.4 Deliverables

Under the direction of the MIA or Contractor’s Examiner-In-Charge and the assigned Assistant Chief Examiner, Contractor’s Personnel, which includes the Contractor’s employees and Subcontractors, will be required to prepare examination work papers and documents, including but not limited to, narratives, analysis of accounts, flowcharts, risk matrix, and other documentation to provide evidence of actual work performed including examination testing and its results.

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These documents must:

1. be created utilizing a word processing program, spreadsheet software, or other software approved in writing by the State Contract Monitor, that meets the minimum requirements set out in Section 2.4; and

2. the examination work papers and documentation must meet the requirements for

Accreditation included in both the NAIC’s Accreditation Program Manual and the Financial Condition Examiner’s Handbook. effect at the time the examination commences.

Contractor shall provide Contractor Personnel with all required equipment (including but not limited to laptop computers), software licenses (including, but not limited to, licenses through Wolters Kluwer and the NAIC for TeamMate+ cloud based software), and supplies required to perform Contractual services. See Information Technology Supplemental for additional information related to Information Technology requirements.

2.5 Experience and Personnel

2.4.1 Preferred Offeror Experience

A. In addition to the minimum qualifications set forth in Section 1 of this RFP, the Offeror’s proposed Personnel must have a minimum of ten (10) years of experience (cumulatively) providing services of the type required under this RFP.

B. Offeror must demonstrate in its Technical Proposal an understanding of and experience in the

Risk-Focused Examination approach.

2.4.2 General Personnel Requirements

A. Contractor shall ensure that assigned Personnel are able to perform the services required for the applicable functional area, as described in Section 2.3, and Contractor Personnel meets or exceeds these general Personnel requirements, and the minimum requirements for the specified functional area, as described in Sections 2.4.3 through 2.4.7 below. Each Functional Area includes Title, Position Description, Education and Experience (General and Specialized).

B. The Offeror’s Personnel selected to participate in the financial examinations must:

1. understand concepts related to professional financial examination standards in effect at the time of the examination including, but not limited to, Generally Accepted Accounting Principles for United States Companies;

2. possess a working knowledge of the NAIC’s solvency regulatory requirements as included in statutory accounting principles codified in the NAIC Accounting Practices and Procedures Manual and the Financial Condition Examiners Handbook, in effect at the time of the examination;

3. be able to research Maryland laws and regulations as they relate to the company under examination; and

4. be able to fully utilize the TeamMate+ platform.

C. All experience required must have occurred within the most recent ten (10) years, unless otherwise specified below.

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Actual resumes shall be provided only for Key Personnel (see Section 2.4.3-2.4.7).

Resumes for resources provided later shall be coordinated by the Contract Monitor per the Technical Proposal.

2.4.3 Senior Manager Services; Personnel Requirements.

A. Designation and Qualifications: The Senior Manager must hold a Certified Financial Examiner (CFE) designation.

B. Experience:

The Senior Manager must have:

1. a minimum of eight years insurance industry experience in the capacity as a manager of financial examinations or similar engagements in the insurance industry;

2. recent (within the three (3) years preceding the deadline for submission of Offeror’s Proposal) insurance industry experience at a project management level;

3. demonstrated knowledge of Risk-Focused Examinations in accordance with the most recent NAIC’s Financial Condition Examiners Handbook in effect at the time the RFP is issued; and

4. prior senior level experience in risk focused examinations in accordance with the NAIC’s Financial Condition Examiners Handbook.

Preference will be given to Personnel that exceeds the minimum requirements.

2.4.4 Examiner-In-Charge Services; Personnel Requirements.

A. Designation and Qualifications: The Examiner-In-Charge must hold a Certified

Financial Examiner (CFE) designation.

The Examiner-In-Charge must have:

1. a minimum of five (5) years risk focused financial examination experience in an examiner-in-charge capacity on a multi-state insurance companies’ examinations within the five years preceding the deadline for submission for proposals. This experience may be consecutive or cumulative, and be based on a single or multiple examinations; and

2. recent (within the three (3) years preceding the deadline for submission of the Offeror’s Proposal) examiner-in-charge experience using the most recent NAIC Financial Condition Examiners Handbook procedures.

2.4.5 Senior Examiner Services; Personnel Requirements.

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Designations: The Senior Examiner must hold an Accredited Financial Examiner (AFE) designation.

A. Experience:

The Senior Examiner must have:

1. experience conducting risk focused examinations using the most recent NAIC Financial Condition Examiners Handbook in effect at the time the RFP is issued; and

2. three (3) years risk focused financial examination experience.

2.4.6 Staff Examiner Services; Personnel Requirements.

A. Designation and Qualifications: The Staff Examiner must have a Bachelor’s Degree from an accredited college or university, with a major in accounting, finance, or related field, with sufficient credit hours in required subjects for admission to the Accredited Financial Examiner (AFE).

The Staff Examiner must have either:

1. a minimum of one year insurance financial examination experience; or

2. three years of audit experience.

2.4.7 Administration Key Personnel Identified

For the Contract, the following positions to be identified in the Technical Proposal will be considered Key Personnel, and shall be required to meet the qualifications stated in Section 2.4:

A. Senior Manager;

B. Examiner-In-Charge;

C. Senior Examiner; and D. Staff Examiner.

2.4.8 Contractor Personnel Maintain Certifications

All required licenses and certifications for Contractor Personnel must be valid and in good standing at the time the Contractor submits its Proposal. Any Contractor Personnel provided under this RFP shall maintain in good standing any required professional certifications for the duration of the Contract.

2.4.9 Work Hours

Unless otherwise specified, the following work hours requirements are applicable:

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A. Business Hours Support: Contractor shall assign Contractor Personnel to support the MIA’s normal business hours (08:00 AM to 05:00 PM), Monday through Friday except for State holidays.

B. State-Mandated Closings: Contractor Personnel shall be required to participate in any State-mandated closings. In this event, the Contractor will be notified in writing by the Contract Monitor of these details.

C. Minimum and Maximum Hours: Full-time Contractor Personnel shall work 40 hours per week with starting and ending times as approved by the Contract Monitor. A flexible work schedule may be used with Contract Monitor approval, including time to support any efforts outside of core business hours. Contractor Personnel may also be requested to restrict the number of hours Contractor Personnel can work within a given period of time that may result in less than an eight-hour day or less than a 40-hour work week.

D. Vacation Hours: Requests for leave shall be submitted to the Contract Monitor at least two weeks in advance. The Contract Monitor reserves the right to request a temporary replacement if leave extends longer than one consecutive week. In cases where there is insufficient coverage, a leave request may be denied.

2.5 Substitution of Personnel

2.5.1 Continuous Performance of Key Personnel

When Key Personnel are identified for the Contract, the following apply:

A. Key Personnel shall be available to perform Contract requirements as of examination’s Notice to Proceed (NTP) Date. Unless explicitly authorized by the Contract Monitor or specified in the Contract, Key Personnel shall be assigned to the State of Maryland as a dedicated resource for the duration of the subject examination.

B. Key Personnel shall perform continuously for the duration of the Contract, or such lesser duration as specified in the Technical Proposal. Key Personnel may not be removed by the Contractor from working under the Contract without the prior written approval of the Contract Monitor.

C. The provisions of this section apply to Key Personnel identified in any response to a NTP for a specific examination.

2.5.2 Definitions

For the purposes of this section, the following definitions apply:

A. Extraordinary Personal Event – means any of: leave under the Family Medical Leave Act; an Incapacitating injury or Incapacitating illness; or other circumstances that in the sole discretion of the State warrant an extended leave of absence, such as extended jury duty or extended military service that precludes the individual from performing his/her job duties under the Contract.

B. Incapacitating – means any health circumstance that substantially impairs the ability of an individual to perform the job duties described for that individual’s position in the RFP or the Contractor’s Technical Proposal.

2.5.3 Contractor Personnel General Substitution Provisions

The following provisions apply to all of the circumstances of Contractor Personnel substitution described in Section 2.5.4.

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A. The Contractor shall demonstrate to the Contract Monitor’s satisfaction that the proposed substitute has qualifications at least equal to those of the Contractor Personnel proposed to be replaced.

B. The Contractor shall provide the Contract Monitor with a substitution request that shall include:

1. A detailed explanation of the reason(s) for the substitution request;

2. The resume of the proposed substitute, signed by the substituting individual and his/her formal supervisor;

3. The official resume of the current Personnel for comparison purposes; and

4. Evidence of any required credentials.

C. The Contract Monitor may request additional information concerning the proposed substitution and may interview the proposed substitute Personnel prior to deciding whether to approve the substitution request.

D. The Contract Monitor will notify the Contractor in writing of: (i) the acceptance or denial, or (ii) contingent or temporary approval for a specified time limit, of the requested substitution. The Contract Monitor will not unreasonably withhold approval of a proposed Contractor Personnel replacement.

2.5.4 Replacement Circumstances

A. Directed Personnel Replacement

1. The Contract Monitor may direct the Contractor to replace any Contractor Personnel who, in the sole discretion of the Contract Monitor, are perceived as being unqualified, non-productive, unable to fully perform the job duties, disruptive, or known, or reasonably believed, to have committed a major infraction(s) of law, Administration policies, or Contract requirements. Normally, a directed Personnel replacement will occur only after prior notification of problems with requested remediation, as described in paragraph 2.5.4.A.2.

2. If deemed appropriate in the discretion of the Contract Monitor, the Contract Monitor may give written notice of any Contractor Personnel performance issues to the Contractor, describing the problem and delineating the remediation requirement(s). The Contractor shall provide a written response to the remediation requirements in a Remediation Plan within ten (10) days of the date of the notice and shall immediately implement the Remediation Plan upon written acceptance by the Contract Monitor. If the Contract Monitor rejects the Remediation Plan, the Contractor shall revise and resubmit the plan to the Contract Monitor within five (5) days, or in the timeframe set forth by the Contract Monitor in writing.

3. Should performance issues persist despite an approved Remediation Plan, the Contract Monitor may give written notice of the continuing performance issues and either request a new Remediation Plan within a specified time limit or direct the substitution of Contractor Personnel whose performance is at issue with a qualified substitute, including requiring the immediate removal of the Contractor Personnel at issue.

4. Replacement or substitution of Contractor Personnel under this section shall be in addition to, and not in lieu of, the State’s remedies under the Contract or which otherwise may be available at law or in equity.

5. If the Contract Monitor determines to direct substitution under 2.5.4.A.1, if at all possible, at least fifteen (15) days advance notice shall be given to the Contractor.

However, if the Contract Monitor deems it necessary and in the State’s best interests

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6. In circumstances of directed removal, the Contractor shall, in accordance with paragraph 2.5.4.A.1 of this section, provide a suitable replacement for approval within fifteen (15) days of the notification of the need for removal, or the actual removal, whichever occurs first.

B. Key Personnel Replacement

To replace any Key Personnel in a circumstance other than as described in 2.5.4.C, including transfers and promotions, the Contractor shall submit a substitution request as described in Section 2.5.3 to the Contract Monitor at least fifteen (15) days prior to the intended date of change. A substitution may not occur unless and until the Contract Monitor approves the substitution in writing.

C. Key Personnel Replacement Due to Sudden Vacancy

1. The Contractor shall replace Key Personnel whenever a sudden vacancy occurs (e.g., Extraordinary Personal Event, death, resignation, termination). A termination or resignation with thirty (30) days or more advance notice shall be treated as a replacement under Section 2.5.4.B.

2. Under any of the circumstances set forth in this paragraph B, the Contractor shall identify a suitable replacement and provide the same information and items required under Section 2.5.3 within fifteen (15) days of the actual vacancy occurrence or from when the Contractor first knew or should have known that the vacancy would be occurring, whichever is earlier.

D. Key Personnel Replacement Due to an Indeterminate Absence

1. If any Key Personnel has been absent from his/her job for a period of ten (10) days and it is not known or reasonably anticipated that the individual will be returning to work within the next twenty (20) days to fully resume all job duties, before the 25th day of continuous absence, the Contractor shall identify a suitable replacement and provide the same information and items to the Contract Monitor as required under Section 2.5.3.

2. However, if this person is available to return to work and fully perform all job duties before a replacement has been authorized by the Contract Monitor the Contract Monitor may, at his/her sole discretion, authorize the original Personnel to continue to work under the Contract, or authorize the replacement Personnel to replace the original Personnel, notwithstanding the original Personnel’s ability to return.

2.5.5 Substitution Prior to and Within 30 Days After Contract Execution

Prior to Contract execution or within thirty (30) days after Contract execution, the Offeror may not substitute proposed Key Personnel except under the following circumstances (a) for actual full-time Personnel employed directly by the Offeror: the vacancy occurs due to the sudden termination, resignation, or approved leave of absence due to an Extraordinary Personal Event, or the death of such Personnel; and (b) for any temporary staff, subcontractors or 1099 contractors:

the vacancy occurs due to an Incapacitating event or the death of such Personnel. To qualify for

RFP for Maryland Insurance Administration Page 19 of 51 such substitution, the Offeror must demonstrate to the State's satisfaction the event necessitating substitution. Proposed substitutions shall be of equal caliber or higher, in the State's sole discretion. Proposed substitutes deemed by the State to be less qualified than the originally proposed individual may be grounds for pre-award disqualification or post-award termination

2.6 Supplemental Category of Work Requirements and Responsibilities

See the attached attached Information Technology (IT) Supplemental and Professional Services Supplemental incorporated by reference in this this solicitation.

THE REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK.

RFP for Maryland Insurance Administration Page 20 of 51

3 Standard Terms and Conditions

3.1 Contract Initiation Requirements

THIS SECTION IS INAPPLICABLE TO THIS RFP.

3.2 End of Contract Transition

The Contractor shall cooperate in the orderly transition of services from it to a subsequent contractor at the end of the contract term or upon receipt of a Notice of Termination from the State. Transition shall be provided in a prompt and timely manner and shall proceed in accordance with the schedule provided to the Contractor by the State in the Notice of Transition. Additional instructions regarding transition services may be provided in the event of a Notice of Termination issued by the State.

3.3 Payment and Invoicing

3.3.1 General

A. The Contractor will be paid at the fully loaded fixed hourly rate for the applicable functional area specified in its Financial Proposal, or Best and Final Offer, if any, and Contract year in the Financial Proposal. Payment will be made for up to two hours labor time spent traveling.

Reimbursement will be made for qualified travel-related expenses subject to the provisions of the State of Maryland’s Travel Regulations in effect at the time of the review.

B. The Contractor, unless directed otherwise by the State Contract Monitor, shall exercise the following method of payment and invoicing:

C. All contract fees, including travel-related reimbursement, will be paid directly by the company that is the subject of examination (“Examinee”). Payment by the Examinee shall be made based upon the actual amount of work satisfactorily performed by the Contractor, such invoices having been submitted to and approved by the State Contract Monitor, or her delegate. Whether performance is satisfactory will be determined in the sole discretion of the State Contract Monitor.

D. Contractor shall submit an invoice that meets the requirements of Section 3.3.2 to the Examinee and the MIA as follows:

i. The Contractor shall e-mail the original of each invoice and signed authorization to invoice to the Contract Monitor;

ii. The Contract Monitor will review the Contractor Invoice and, once approved, email an “OK TO PAY Approval” to the Contractor; and

iii. The Contractor will then send the approved invoice, along with the Contract Monitors “OK TO PAY Approval” email, to the Examinee using the contact information provided for invoicing at the time the examination NTP is issued.

E. The Contractor agrees that the State of Maryland shall not be liable, in any manner, for the payment of any fees, costs, or expenses under the Contract(s) resulting from this Solicitation.

F. As permitted by law, the MIA will take appropriate action to ensure that the Examinee pays the approved invoices under this Contract.

3.3.2 Invoicing

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Submission of an invoice constitutes the Contractor’s verification that the information in the invoice is accurate as of the time of submission.

An invoice not satisfying the requirements of a Proper Invoice (as defined in COMAR 21.06.09) will not be processed for payment. To be considered a Proper Invoice, invoices must include the following information, without error:

A. Contractor name and address;

B. Remittance address;

C. Federal taxpayer identification (FEIN) number, social security number, as appropriate;

D. Invoice period (i.e. time period during which services covered by invoice were performed);

E. Invoice date;

F. Invoice number;

G. State assigned Contract number;

H. State assigned (Blanket) Purchase Order number(s);

I. Goods or services provided; including individual staff member’s name, applicable functional area, type of work (including, for example, if for travel), and number of hours, or portion thereof, worked by employee, and for all employees in the aggregate;

J. The applicable Fully Loaded Fixed Hourly Rate;

K. Travel and expense reimbursement information, which is listed on a separate line from labor hours being invoiced. Supporting documentation such as itemized receipts must accompany the invoice for all eligible expenses;

L. The name of the company that is the subject of review (Examinee), and the SERFF filing number assigned by the MIA;

M. Amount due; and N. Any additional documentation required by regulation or the Contract.

After the first invoice, subsequent invoices should document cumulative hours worked and cumulative dollars invoiced by Contractor for all work under the NTP as of date of invoice in order to ensure compliance with the NTE stated in the NTP for the examination or analyses.

The State reserves the right to reduce or withhold Contract payment in the event the Contractor does not provide all required deliverables within the time frame specified in the Contract or otherwise fails to satisfy the terms and conditions of the Contract until such time as the Contractor brings itself into full compliance with the Contract. Also, see the “Living Wage” provision of the Contract, if applicable, which allows for withholding of payment under certain circumstances. Any action on the part of the MIA, or dispute of action by the Contractor, shall be in accordance with the provisions of Md. Code Ann., State Finance and Procurement Article §§ 15-215 through 15-223 and with COMAR 21.10.04.

The State is generally exempt from federal excise taxes, Maryland sales and use taxes, District of Columbia sales taxes and transportation taxes. The Contractor, however, is not exempt from such sales and use taxes and may be liable for the same.

Invoices for final payment shall be clearly marked as “FINAL” and submitted when all work requirements have been completed and no further charges are to be incurred under the Contract.

In no event shall any invoice be submitted later than 60 calendar days from the Contract termination date.

3.3.3 Invoice Submission Schedule

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The Contractor shall submit invoices in accordance with the following schedule:

A. Invoices shall be issued on a monthly basis. The Contractor shall submit invoices on or before the 15th business day of the month following the end of the invoice period. For example, work performed January 1, 2026 through January 31, 2026 shall be billed by February 15, 2026.

B. Invoices for deliverables shall be submitted upon completion and acceptance of the deliverables as defined in Section 2 of the RFP.

3.3.4 Travel Reimbursement

A. Reimbursement will be made for qualified travel-related expenses subject to the provisions of the State of Maryland’s Travel Regulations in effect at the time of the examination or analyses. Payment will be made for up to two (2) hours of labor time spent traveling.

B. Contractors will be reimbursed in accordance with the State of Maryland’s Standard Travel Regulations, COMAR 23.02.01 et seq., for qualified travel expenses incurred in connection with any travel necessary to meet with MIA staff or perform work under the Contract. An official copy of these regulations may be downloaded on the website of the Maryland Division of State Documents, http://www.dsd.state.md.us. Contractor will be reimbursed for expenses incurred to travel to the offices of the MIA and for lodging expenses incurred in the Baltimore area. Reimbursement will be made for out-of- pocket expenses (e.g., mileage, tolls, parking), including those out of pocket expenses incurred while performing work in the Baltimore area. A per diem allowance will not be paid. Unless directed otherwise by the State Contract Monitor, travel-related expenses shall be specified in the monthly invoice and original receipts for such expenses attached to the invoice submitted to the MIA, with copies of same receipts to the Examinee.

C. For purposes of computing travel-related expenses, the assigned office for all individuals performing services under these Contracts will be the Contractors’ offices or the Contractors’ employee’s home, whichever is closer to the location of the financial examination. If the Contractor has more than one office, the location that shall be used for purposes of calculating travel-related expenses shall be the Contractors’ office to which the majority of employees who are performing services under the Contract are regularly assigned.

D. Routine Travel is defined as travel within a 50-mile radius of the Administration’s base location, as identified herein the RFP, or the Contractor’s facility, whichever is closer to the consulting or work site. There will be no payment for labor hours for travel time or reimbursement for any travel expenses for work performed within these radiuses or at the Contractor’s facility.

E. Non-routine Travel is defined as travel beyond the 50-mile radius of Administration ’s base location, as identified herein the RFP, or the Contractor’s facility, whichever is closer to the consulting or work site. Non-routine travel will be reimbursed according to the State’s travel regulations and reimbursement rates, which can be found at: www.DBM.maryland.gov -search: Fleet Management. If Non-Routine travel is conducted by automobile, the first 50 miles of such travel will be treated as Routine Travel and will not be reimbursed. The Contractor may bill for labor hours expended in non-routine traveling beyond the identified 50-mile radius, only if so specified in the RFP or Work Order.

F. Liquidated Damages

3.3.5 MBE Liquidated Damages

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This section is inapplicable to this RFP.

3.3.6 Liquidated Damages other than MBE

Liquidated damages other than MBE are identified in Exhibit 2 – Sample Contract.

3.4 Problem Escalation Procedure

No later than ten (10) Business Days after notice of recommended award or after the date of the Notice to Proceed, whichever is earlier, the Contractor must provide, and thereafter, maintain a Problem Escalation Procedure (PEP) for both routine and emergency situations. The PEP must state how the Contractor will address problem situations as they occur during the performance of the Contract, especially problems that are not resolved to the satisfaction of the State within appropriate timeframes and must include:

A. Contact information B. The process for establishing the existence of a problem;

C. Names, titles, and contact information for progressively higher levels of Personnel in the

Contractor’s organization who would become involved in resolving a problem;

D. For each individual listed in the Contractor’s PEP, the maximum amount of time a problem will remain unresolved with that individual before the problem escalates to the next contact person listed in the Contractor’s PEP;

E. Expedited escalation procedures and any circumstances that would trigger expediting them;

F. The method of providing feedback on resolution progress, including the frequency of feedback to be provided to the State;

G. Contact information for persons responsible for resolving issues after normal business hours (e.g., evenings, weekends, holidays) and on an emergency basis; and

H. A process for updating and notifying the Contract Monitor of any changes to the PEP.

I. The PEP must be updated within ten (10) Business Days after any change in circumstance which changes the PEP but not less than annually within ten (10) Business Days after the start of each Contract year .

Nothing in this section shall be construed to limit any rights of the Contract Monitor or the State which may be allowed by the Contract or applicable law.

3.5 Work Orders

THIS SECTION IS INAPPLICABLE TO THIS RFP.

3.6 Assignment of Work Under the Contract

A. The Contract Monitor will issue a Notice to Proceed (NTP) for each assigned examination or analyses. Work under the Contract shall be initiated only upon issuance of a Work Order authorized by the State Contract Monitor. Performance of services in advance of any such NTP is at risk of nonpayment.

B. All work will be assigned on a rotational basis. The first highest ranked Offeror, and if additional contracts are awarded, then the second Contract shall be awarded to the second highest ranked Offeror, and then the third contract, if any, to the third highest ranked Offeror, and then the fourth contract, if any, to the fourth highest ranked Offeror, and so on. See RFP Section 6 for further award information. The Offeror will provide

RFP for Maryland Insurance Administration Page 24 of 51 assistance in the functional area on an as needed basis when called upon by the MIA, unless the Contractor is unavailable for one of the following reasons:

1. The Contractor has a conflict of interest on a particular review;

2. The Contractor is unavailable to perform the service requested in the timeframe the MIA needs the work to be completed;

3. The Contractor is unable to provide the Personnel to perform the requested service;

4. The Contractor is unable to meet the time deadlines and budgets required to complete the service; or

5. The Contractor, with the approval of the State Contract Monitor, has indicated it is otherwise unable to perform the work requested.

C. The NTP shall identify the functional area, and define scope and requirements of the specific assignment. The NTP may not amend, conflict with, or supersede any provision of the Contract, this RFP, or in any document incorporated by reference in either the Contract or RFP.

D. The…