Financial Exam of Municipal Mutual Insurance Company

The Offices of the Insurance Commissioner, West Virginia, is requesting quotes for a statutory financial examination of Municipal Mutual Insurance Company under ARFQ INS2700000002, with quotes due November 19, 2026 at 2:00 p.m. EST. The examination will cover the period from January 1, 2022 through December 31, 2026 and must comply with West Virginia Code 33-2-9 and the National Association of Insurance Commissioners Financial Condition Examiners Handbook.

Mandatory qualifications are restrictive. The awardee must provide a Certified Financial Examiner (CFE) to serve as Examiner-in-Charge with a minimum of six years of insurance company financial examination experience; staff examiners with at least two years of insurance experience; an IT specialist holding either an Automated Examination Specialist (AES) or Certified Information Systems Auditor (CISA) designation; and an actuarial specialist holding appropriate credentials from the Casualty Actuarial Society or Society of Actuaries. All contracted staff must hold FedRamp licenses to work within the OIC's Teammate+ environment. The vendor must have no conflict of interest with the insurance company being examined and must retain all examination records for a minimum of five years.

The deliverable is a formal report of examination containing findings, conclusions, and recommendations for corrective or regulatory action, along with a management letter identifying non-compliance with West Virginia statutes and regulations. Examination work is expected to begin September 1, 2027 and conclude by April 30, 2028. All examination work will be conducted remotely without travel expenses. Vendors must submit cost quotations on separate hourly rate sheets for financial examination work, supervisory review, IT review, and actuarial review services.

Questions are due October 29, 2026 at 5:00 p.m. ET. An addendum will be issued November 5, 2026. Quotations may be submitted electronically through wvOASIS or in paper form to the Procurement Officer at the Offices of the Insurance Commissioner, 900 Pennsylvania Avenue, Charleston, West Virginia 25302. Direct inquiries to Beverley Toney, Purchasing Manager, at 304-414-8473 or beverley.a.toney@wv.gov.