Financial Examination Services Pre-Qualification

The Michigan Department of Technology, Management, and Budget is requesting proposals to establish a pre-qualified contractor pool for financial examination and analysis services, RFP 260000002746, with proposals due November 4, 2026 at 3:30 p.m. Eastern and questions due October 19, 2026.

The scope is financial examinations of approximately 1,400 Michigan-based insurance companies, including approximately 130 domestic entities, under National Association of Insurance Commissioners guidelines. Contractors will evaluate company solvency and compliance with Michigan insurance laws and regulations. Examination assignments flow through second-tier RFPs issued via email, with contractors given approximately three weeks to submit project-specific proposals and quotations. Contractors must assign certified public accountants familiar with Michigan insurance laws and NAIC requirements to supervise examinations, maintain a senior-level auditor on-site throughout the examination period, and deliver examination findings and work papers within 10 calendar days of completion. Overtime, holiday pay, and travel expenses are not reimbursed. Liquidated damages of $5,000 plus $100 per day apply for late or improper completion; service-level credits of 1 percent of monthly invoices apply for unauthorized pre-examination company contact, missed submission deadlines, and failure to meet 180-calendar-day examination completion timelines. If subcontractors perform more than 20 percent of deliverables, at least 20 percent of subcontracted work must be awarded to Michigan-based Geographically Disadvantaged Business Enterprises (GDBEs).

The contract term runs April 1, 2027 through March 31, 2030, with renewal options for up to three additional two-year periods at the State's sole discretion. Pricing is firm for the contract length with adjustments only for documented changes in actual contractor costs, subject to 30-day review and negotiation. Monthly lump-sum fixed-price payments are based on State review of hours worked and progress, with 25 percent retainage held until final acceptance.

Technical evaluation weighs Schedule A sections at 20 and 30 points and the Vendor Questions Worksheet at 50 points, for a total of 100 points. Proposals scoring 80 or more points will have pricing evaluated. Award goes to the responsive, responsible bidder offering best value. Contractors must maintain commercial general liability, automobile liability, workers compensation, employers liability, cyber liability, and professional liability insurance with minimum limits specified; all insurers must hold A.M. Best ratings of A- VII or higher. Certificates must be submitted within 10 business days of contract execution. All proposals must be submitted electronically through www.michigan.gov/SIGMAVSS in modifiable native formats with individual files not exceeding 30 MB, pricing submitted separately. A completed Confidential Treatment Form is mandatory regardless of confidential content; resumes, pricing, and marketing materials cannot be designated confidential.