Ccrfp for actuary
Closed State & local contract opportunity Posted
- Solicitation number
- 25-02
- State
- New Jersey
- Responses due
Opportunity facts
- Jurisdiction
- NIGP code
- Points of contact
-
- Nancy Ghani nancyg@permainc.com (201) 518-7029
- Matthew Cavallo mcavallo@laracyllc.com (973) 703-4070
Opportunity details come from bidnetdirect.com. Updated .
About this opportunity
The New Jersey Municipal Excess Liability Joint Insurance Fund (NJMEL) is conducting a Competitive Contracting Request for Proposals (CCRFP) for professional actuarial services, targeting Morris County and other Joint Insurance Funds across New Jersey. The procurement seeks a qualified actuary to provide comprehensive professional services from January 1, 2026, through December 31, 2028, with specific responsibilities including calculating Incurred But Not Reported (IBNR) claims, certifying the Fund's actuarial soundness, reporting to the Board of Fund Commissioners, reviewing new applicants, and computing loss projections. Proposers must be fellows or associates in good standing with the Casualty Actuarial Society or the American Academy of Actuaries, with recent loss reserving experience. The proposal evaluation will use a 50-point system, comprising 25 points for technical criteria, 15 points for managerial criteria, and 10 points for cost considerations. The proposal is due on Wednesday, November 12, 2025, at 10:00 A.M., and must be submitted electronically through the BidNet Direct portal.
The CCRFP does not explicitly outline specific set-aside designations or restrictions for disadvantaged enterprises. Proposers are required to maintain professional liability and cyber liability insurance and comply with state and federal regulations regarding equal employment opportunity and anti-discrimination practices. While no incumbent vendor is mentioned, the RFP indicates that the selected actuary will need to integrate with existing Fund infrastructure and reporting mechanisms. Proposers must submit detailed information about their firm, staff qualifications, references, and a fee proposal for the 2026 fund year, with optional pricing for 2027 and 2028. Although a specific budget range is not provided, the actuary will be expected to provide comprehensive actuarial services for the Fund's risk management and insurance operations, suggesting a professional services contract with potential multi-year renewal options.
Opportunity text
The New Jersey Municipal Excess Liability Joint Insurance Fund (NJMEL) is soliciting proposals from qualified actuaries to provide professional actuarial services through a Competitive Contracting Request for Proposals (CCRFP). The successful proposer will be responsible for performing actuarial analyses, evaluations, and certifications to support the Fund's risk management and insurance operations for its member Joint Insurance Funds across New Jersey.
Files
| File | Type | Posted |
|---|---|---|
| CCRFP 25-02 NJMEL Actuary.pdf |
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