Actuarial Services for Self-Insurance Programs

Broward County is seeking a Certified Actuary to provide comprehensive actuarial services for its self-insurance programs through an open-end contract. The procurement specifically targets annual actuarial studies for two self-insurance programs: the Broward County Self-Insurance Program and the Broward Sheriff's Office (BSO) Self-Insurance Programs. The selected vendor must conduct detailed annual actuarial studies for fiscal years 2025-2027, with draft reports due on January 15, 2026, and subsequently on October 15 following each fiscal year end. Key deliverables include a comprehensive reserve analysis of outstanding liabilities, funding recommendations, five-year cash flow projections, explanations of significant valuation changes, and estimates of ultimate incurred losses for each coverage line. The contract requires the actuary to analyze substantial existing discounted outstanding liabilities, including $31.303 million for Broward County's program and $83.397 million for BSO's programs covering workers' compensation, law enforcement liability, auto liability, general liability, and medical professional liability. The solicitation was posted on November 3, 2025, with responses due by November 6, 2025, and all submissions must be made electronically through the BPRO procurement platform. Vendors must be a Certified Actuary and perform 100% of the contract work without subcontracting, with the initial contract period set for three years and potential for two additional one-year renewals.

The procurement includes specific provisions for Small Business Enterprise (SBE) and County Business Enterprise (CBE) certifications through the Office of Economic and Small Business Development (OESBD). Certified SBE and CBE vendors may receive bidding advantages, such as the ability to match bids within 10% for Invitations to Bid and potential scoring preferences in proposal evaluations. The solicitation requires vendors to submit comprehensive documentation, including a vendor questionnaire, insurance certificates, and a foreign country of concern attestation. Minimum insurance requirements include $1,000,000 in General Liability, $500,000 in Auto Liability, $2,000,000 in Professional Liability (Errors & Omissions), and appropriate Workers' Compensation coverage. While no specific budget range is explicitly stated, the contract involves managing self-insurance programs with total outstanding liabilities of approximately $114.7 million across two separate programs. Vendors must provide at least three references for similar services performed in the past three years and demonstrate financial stability. The county reserves the right to order up to an additional 20% of the originally specified quantities within one year of the award date at the same prices and terms, providing flexibility in potential contract execution.