Captive Insurer Management Services

The Vendor is required to provide serve as a captive manager for mosquito property and casulaty and provide captive insurance management, administration and other related services as set forth below for the county’s risk financing program, which shall include the following types of coverages: 1) commercial property insurance; 2) excess liability insurance and 3) other insurance products as requested by agency.
- Finance
•    Reconcile bank and investment statements to the general ledger.
•    Maintain account records using generally accepted accounting principles (GAAP) accounting.
•    Prepare quarterly financial statements, including balance sheet and income statement and supporting schedules at a reporting date agreed with captive.
•    Coordinate the payment of the annual premium tax assessment with the department.
•    Assist captive with preparation of the captive’s annual budget, as needed.
•    Produce financial forecasts for captive and submit to captive and regulator, as needed.
•    Assist in the coordination and performance of the annual audit of captive conducted by captive’s auditor.
•    Assist in the coordination and performance of the annual actuarial review of captive conducted by captive’s actuary.
•    Monitor bank balances and notify when bank transfers may be necessary or appropriate.
•    Provide information to captive’s income tax return preparer, as needed.
•    Such services as mutually agreed upon by the parties.
- Policy Documentation
•    Coordinate the approval of all insurance and reinsurance contracts with the regulator.
•    General correspondence/queries on policy conditions.
•    Maintain copies of insurance policies issued by captive.
•    Prepare captive premium invoices, as needed.
•    Maintain copies of reinsurance agreements where captive is a counterparty.
- Claim Records
•    Facilitate access to actuarial support as needed.
•    Obtain loss runs to reflect activity in the captive’s financial statements.
•    Reconcile loss run paid activity to loss payment records of captive.
- Governance
•    Prepare and/or submit all documents and filings to regulator at a frequency and in a format determined by laws, rules and codes of the domicile.
•    Assist in providing notice of captive annual board meeting to all attendees and attend the meeting.
•    Facilitate the engagement of a resident director in the domicile to serve on captive’s board, if applicable.
•    Provide the captive board such information or reports in connection with the performance of the services as may be reasonably requested at such meetings.
- Administration
•    Maintain on behalf of captive a home office and principal place of business in the domicile during the term of this agreement.
•    Satisfy requirements to obtain licenses for captive and to maintain such licenses in good standing.
•    Assist in coordination of the captive’s annual board meeting.
•    Prepare and distribute material for captive annual board meeting.
•    Provide facilities and services to assist in the conduct of, and captive response to, any regulatory inquiries, investigations and examinations.
- Compliance
•    Serve as the primary liaison between captive and the regulator. All communication with the regulator should always be through the captive manager.
•    File audited financial statements and actuarial loss reserve opinion as required under the domicile’s laws, rules and codes.
•    Prepare and file all necessary documents as are customarily required under the domicile’s laws, rules and codes, except as otherwise prepared by the captive.

- Contract Period/Term: 5 years
- Questions/Inquires Deadline: November 7, 2025