Captive Insurance Application and Financial Services

The vendor is required to provide captive insurance application and financial to begin services in February of 2026.
1. Application analysis
•    Review captive insurance company applications and other filings remitted to it by the division of insurance. 
•    Provide the division of insurance with the summary admission memo. 
•    The summary admission memo will include, but is not limited to, recommendations concerning the application, and whether the application requires amendments, modifications, or additional supporting documentation. 
•    The vendor will also analyze the application to determine if the application contains any deficiencies or items of concern. 
•    Provide recommendations concerning approval or disapproval of the application and whether the application satisfies the requirements.
2. Annual financial analysis
•    Review annual financial filings for captive insurance companies remitted to it by the division of insurance. 
•    The financial filings may include an annual report of financial condition, audited of annual report, actuarial report, and other items deemed necessary to complete the annual financial analysis. 
•    Provide the division of insurance with the summary analysis memo. 
•    The summary analysis memo will include relevant analytics, basic information concerning the captive and its financial soundness, and a solvency score.
3. Training
•    Provide annual training to division of insurance staff on proper captive application review and analysis and financial review and analysis.

- Contract Period/Term: 1 year
- Questions/Inquires Deadline: October 31, 2025