The vendor is required to provide from a qualified and experienced actuarial consulting firm that can provide various actuarial analyses of its loss experience.
- The proposer shall conduct analyses and provide timely reports on the following topics on or about the dates indicated:
• August 4, 2025: net liabilities analysis as of June 30, 2025
• December 8, 2025: rate level analysis for the July 1, 2026 – June 30, 2027 fund year
• December 8, 2025: general liability and auto liability (GL/AL) experience rating plan for the July 1, 2026 – June 30, 2027 fund year
• June 5, 2026: actuarial opinion on budgeted loss and allocated loss adjustment expense (alae) for the July 1, 2026 – June 30, 2027 fund year
- These analyses and reports shall be based on the following data provided by grope:
• Gross and net earned premium for the July 1, 2025 – June 30, 2026 fund year, by coverage and member;
• Historical exposures by fund year, coverage, and member, e.g., payroll (professional vs. non-professional), TIV (inland vs. coastal), Ada, vehicles (type and cost);
• Deductibles for the July 1, 2025 – June 30, 2026 fund year, by coverage and member;
• Experience modification factors for the July 1, 2025 – June 30, 2026 fund year for al and for the July 1, 2026 – June 30, 2027 fund year for WC, by member;
• Underwriting debits and credits for the July 1, 2025 – June 30, 2026 fund year, by coverage and member;
• Claims detail by fund year, coverage, and member, including recoveries (salvage, subrogation, and reinsurance) – as of June 30, 2025 for the net liabilities analysis and as of September 30, 2025 for the rate level analysis;
• Historical claims detail for development triangles;
• Sub-fund allocations by member;
• Property inland vs. coastal allocations by member;
• Minimum premium by coverage;
• Rates for all coverages for the July 1, 2025 – June 30, 2026 fund year;
• Deductible factors for all coverages for the July 1, 2025 – June 30, 2026 fund year;
• Group 8868 professional and 9106 non-professional class code rates and benefit level changes effective January 1, 2026;
• Expense budget for the July 1, 2026 – June 30, 2027 fund year, including sub-fund administration fees;
• Estimated workers’ compensation (WC) reinsurance cost for the July 1, 2026 – June 30, 2027 fund year;
• Selected sub-fund stabilization fund usage for the July 1, 2026 – June 30, 2027 fund year;
• Selected rate changes by coverage for the July 1, 2026 – June 30, 2027 fund year;
• Group retained limits, loss and alae treatment, and deductible treatment by coverage;
- Provide additional actuarial consulting services on request, such as retention analysis and surplus modeling;
- The proposer shall work cooperatively with group leadership and staff and maintain confidentiality on all aspects of the actuarial consulting services rendered;
- The proposer shall have the ability to assign dedicated lead and support staff to the group program and shall have sufficient staffing levels to accommodate group needs;
- All such deliverables shall be presented in a clear and accessible manner, ensuring they are easily understood by individuals without an actuarial background.
- Contract Period/Term: 5 years
- Questions/Inquires Deadline: March 18, 2025