RFP: 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 under RFP 260000002108, with proposals due September 2, 2026 at 3:30 p.m. Eastern Time. Questions are due August 17, 2026, with answers posted August 24, 2026. The State considers Service-Disabled Veteran-Owned Business (SDVOB) preferences under Michigan law and will evaluate economic impact including Michigan job creation and resident employment.

The scope requires contractors to perform comprehensive financial examinations and analysis for the Michigan Department of Insurance and Financial Services (DIFS) to determine solvency and compliance with Michigan insurance laws and National Association of Insurance Commissioners (NAIC) standards for approximately 1,400 Michigan-based insurance companies. Individual second-tier RFPs will follow pre-qualification, with approximately three weeks to submit proposals. Financial examinations must be completed within 180 calendar days from assignment, with findings and work papers submitted within 10 calendar days of on-site completion. Contractors must travel to company sites as necessary and remain available to answer inquiries for approximately three years following each examination and participate in administrative or court proceedings. Contractors must comply with State IT policies, the Acceptable Use Policy, and Digital Accessibility Standards (ADA compliance).

The contract term is effective 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 entire contract length, with hourly rates specified in Schedule B serving as the maximum allowable cost. Monthly lump-sum fixed-price payments are based on DIFS review of hours worked and progress, with the State retaining 25 percent of invoiced amounts until final acceptance. Liquidated damages of $5,000 plus $100 per day apply for late or improper completion. Service level credits of 1 percent of monthly invoice value are assessed for specific failures.

Proposals are evaluated on 100 technical points: 20 points for Statement of Work sections, 30 points for staffing and key personnel, and 50 points for the Vendor Questions Worksheet. Only proposals scoring 80 or more technical points will have pricing evaluated. Bidders must submit at least three relevant project examples from the last five years demonstrating capability to manage similar contracts. Contractors must maintain Professional Liability/Errors and Omissions insurance of $3 million each occurrence and annual aggregate, Commercial General Liability of $1 million per occurrence, and other specified coverage. The State reserves the right to award multiple contracts and conduct negotiations on pricing and terms.