Request for Proposals for Consultant to Conduct a Feasibility Study and Propose

The State of Connecticut Insurance Department is requesting proposals for a consultant to conduct a feasibility study and develop a comprehensive plan addressing nonprofit liability insurance availability concerns, with proposals due August 21, 2026, and questions due August 14, 2026.

The scope requires the consultant to evaluate the feasibility of multiple nonprofit entities pooling liability insurance policies, establishing a captive insurance company, risk management agency, or alternative insurance programs; design and conduct market and feasibility assessment with data collection framework; perform actuarial and underwriting analysis; develop a proposed plan with financial analysis and operating model; conduct legal evaluation of third-party litigation funding impacts; and prepare a final report with legislative recommendations for submission to the Connecticut General Assembly by February 1, 2027.

Minimum qualifications include demonstrated expertise in evaluating and developing liability insurance programs; in-house or contracted actuarial analysis capabilities; data collection and analysis expertise; financial analysis capabilities with expertise in insurance company requirements; understanding of Connecticut General Statutes Title 38a regulatory environment; and preferred experience in the nonprofit insurance sector. Proposers must provide fixed-fee or milestone-based pricing with detailed budget narrative and demonstrate financial control procedures.

The Connecticut State Legislature has allocated $200,000 for this work. The contract term runs from an anticipated start date of October 6, 2026, through delivery of the final report on February 1, 2027.

Evaluation criteria weight Consulting Service Expectations at 35 percent, Staffing Expectations at 25 percent, Data and Technology Expectations at 20 percent, and Organizational Expectations and Budget/Cost Expectations at 10 percent each. All proposals must comply with Connecticut procurement regulations, including nondiscrimination certifications and campaign contribution restrictions for contracts valued at $50,000 or more annually or $100,000 or more in combination. Questions should be submitted electronically to George B. Bradner at George.bradner@ct.gov. No bidders conference will be held.