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 specialized insurance company reviews and consulting services under RFP STATE 0000000498SL (Amendment No. 1), with proposals due August 14, 2026 at 2:00 PM Central Time. Services will be delivered on an as-needed basis to support the Department's financial examination and regulation of domestic life, health, property and casualty, and other licensed insurance entities.

Contractors must hold current Missouri or National professional licensure in at least one of six service areas: Financial Regulation; Accounting, Auditing, and Financial Examination/Financial Analysis; Investments; Reinsurance; Actuarial services; or Information Technology. Minimum qualifications include three years of specialized insurance company review experience and three years of consulting experience in the relevant profession. Leadership team members must have a minimum of five years leading consulting teams, with at least three years leading teams for State Departments of Insurance. Contractors must be fully operational within 90 calendar days of authorization to proceed.

The contract term is one year from the effective date, with four optional one-year renewal periods. Pricing is firm and fixed according to submitted hourly rates by personnel classification (Exhibit C). The contractor will submit letters of engagement for individual projects with guaranteed not-to-exceed total prices. Travel expenses are reimbursable at Contiguous US Per Diem Rates or the contractor's internal policy, whichever is lower, subject to prior state agency approval for amounts exceeding CONUS rates. Payment is made monthly by either the state agency or the insurance company being examined, as specified in the letter of engagement, based on submitted timesheets and supporting documentation.

The contractor must maintain adequate liability insurance naming the State of Missouri as an additional insured and comply with HIPAA obligations as detailed in the attached Business Associate Agreement, including workforce training on Protected Health Information handling, encryption requirements, mandatory security incident reporting within five calendar days, and breach documentation retention for a minimum of six years. The state does not guarantee contract usage and reserves the right to terminate for convenience with 30 calendar days' notice or for breach with a ten-state-business-day cure period. Current contracts exist under bid RFPS30034902200653 and contract numbers CS220653001 through CS220653007.