The vendor is required to provide that examination administrative service to hire an independent contractor for examination administrative services.
- Provided department-wide and are broken down into two parts:  discrete billable services, which consist of the exam services listed below, and discretionary billable services, which consist of the expert financial services listed below under special deputy services.
- Exam services – Discrete billable services
• Scheduling, conducting and monitoring financial, market conduct, and/or targeted examinations (exams) of the business and affairs of state domiciled and licensed insurance companies as required by applicable state statutes as well as the guidelines and accreditation requirements of the national association of insurance commissioners (NAIC);
• Scheduling and monitoring state participation in NAIC exams of non-domestic companies as deemed appropriate by the department;
• Providing training, technical and it support for all examiners;
• Preparing certificates of reserve valuation for all domestic insurance companies required by law to file such valuation reports with the department;
• Advancing fees and expenses to contract examiners for participation in exams;
• Advising the commissioner and the department concerning all applicable examination and valuation standards;
• Attending and participating in hearings relating to examination and valuation matters at the request of the commissioner;
• Arranging for actuarial and any other professional services as needed for exams;
• Providing a detailed time and cost budget for each exam performed;
• Preparing examination reports in compliance with department and NAIC standards; and
• Preparing invoices for submission for both the contractor’s and the department’s exam charges and expenses.
- Special deputy services – discretionary billable services
• Advising the commissioner and the department on an as needed basis concerning admission applications for both traditional and captive insurers;
• Advising the commissioner and the department on an as needed basis concerning mergers and acquisitions of state domiciled insurers (both property & casualty and life and health);
• Advising the commissioner and the department on an as needed basis concerning any matters arising in or under title 18, chapter 59 relative to the supervision, rehabilitation or liquidation of any state domestic insurer;
• Attending NAIC national meetings at the request and discretion of the commissioner and prepare or assist in preparing presentations for department staff as needed or requested;
• Participating in NAIC task force conference call and meetings at the request and discretion of the commissioner;
• Assisting as necessary, the department’s compliance with NAIC accreditation standards and examinations;
• Assisting and advising as necessary, the department’s drafting and submission of legislation, regulations and bulletins; and
• Assisting and advising the commissioner or the department as needed on any department regulatory matter at the discretion of the commissioner or the department
- Contract Period/Term: 2 years
- Questions/Inquires Deadline: March 21, 2025