Actuarial Review of the Insurance Reserve & Risk Financing Strategy

The City of Lethbridge has issued Request for Quotations COL-26-148 for a specialized Actuarial Review of the Insurance Reserve and Risk Financing Strategy. This project requires a professional actuarial analysis of the insurance reserve, which is distinct from general risk management evaluations. The selected consultant must adhere to Public Sector Accounting Standards (PSAS) rather than IFRS. The solicitation was posted on August 26, 2026, with a response deadline of September 23, 2026. Eligible respondents must comply with strict insurance and legal requirements, including a mandatory indemnification agreement and Professional Errors and Omissions Insurance with a minimum limit of 2,000,000 dollars per claim and annual aggregate. All Risk Property Insurance is also required to cover the actual cash value of the consultant's equipment. Notably, per a provincial directive regarding U.S. tariffs, the City is not accepting bids from any U.S.-based suppliers of goods or services. Procurement is managed by Ibukun Awolala.