Insurance Company Reviews and Consulting Services

The Missouri Department of Commerce and Insurance, through the State of Missouri Office of Administration Division of Purchasing, is requesting proposals for insurance company reviews and consulting services on an as-needed basis under Solicitation STATE 0000000498SL, with proposals due August 14, 2026 at 2:00 p.m. Central Time. The contract runs one year from the effective date with renewal options for four additional one-year periods. No specific funding amount is guaranteed; appropriations are contingent on the Missouri General Assembly.

Qualified contractors must provide consulting services in one or more of the following specialties: Financial Regulation; Accounting, Auditing, and Financial Examination/Financial Analysis; Investments; Reinsurance; Actuarial; and Information Technology. Services support the Department's examination and regulation of domestic life and health, property and casualty, and other licensed insurance companies.

Minimum qualifications include valid Missouri and/or National professional licensing, a minimum of three years of experience performing specialized insurance company reviews, and three years of experience providing consulting services in the designated profession. Leadership team members must have a minimum of five years of experience leading consulting teams, with at least three years leading teams for State Departments of Insurance.

Pricing is firm and fixed based on hourly rates by personnel classification, with a guaranteed not-to-exceed total price specified in each individual letter of engagement. Travel expenses are reimbursable at actual cost subject to the lower of CONUS rates or the contractor's internal policy, with prior state agency approval required. Payment may be made by the state agency or the insurance company being reviewed, as specified in the engagement request.

Contractors must be registered in MissouriBUYS with "Approved" status and achieve "Spend Authorized" registration status to be eligible for award. Current contracts for these services exist under contract numbers CS220653001 through CS220653007. The contractor must execute a Business Associate Agreement establishing HIPAA compliance for Protected Health Information handling, including mandatory breach notification within five calendar days and indemnification for HIPAA violations.