Deductible Buyback Captive - Feasibility Study

The Maryland Department of Housing and Community Development is soliciting a qualified third-party insurance consulting firm to conduct a comprehensive, data-driven feasibility study for a Deductible Buy-Back Captive Insurance Program tailored for Affordable Multifamily Housing Projects. The selected consultant will analyze the viability of captive formation, model financial performance under various loss scenarios, and provide recommendations on the optimal structure and conditions for implementation. The project is expected to be completed within 12 to 16 weeks from contract execution, with key deliverables including a data validation memorandum, actuarial analysis report, financial pro forma model, domicile and governance recommendations, and a final feasibility report culminating in an executive presentation. The contract will be awarded to the responsible offeror whose proposal is deemed most advantageous to the State, with technical and financial factors weighted equally. Technical evaluation focuses on the work plan, staff qualifications, firm capabilities, and the economic benefit to the State of Maryland. Requirements for the consultant include being licensed or authorized to operate as a captive or insurance manager in recognized jurisdictions and maintaining documented cybersecurity controls with a third-party security assessment. Proposals must be submitted via the eMMA portal in a two-part format, separating technical and financial volumes. Payment is processed via electronic funds transfer and is contingent upon the completion and acceptance of deliverables, verified by a signed Deliverable Product Acceptance Form.