FY24-Expert Board Reviews 01

DESCRIPTION OF SOURCES SOUGHT The purpose of this notice is to identify potential sources for addition to the general pool of Blanket Purchase Agreements (BPAs) of Board approved entities with expertise as actuaries or in underwriting of insurance policies to serve as reviewers of policies; In accordance with 7 USC CHAPTER 36, SUBCHAPTER I: FEDERAL CROP INSURANCE and 7 USC 1508: Crop insurance. The Risk Management Agency (RMA) of the United States Department of Agriculture (USDA) is responsible for supervision of the Federal Crop Insurance Corporation (FCIC), administration and oversight of programs authorized under the Federal Crop Insurance Act (7 U.S.C. 1501 et. seq.), any pilot or other program involving revenue insurance, risk management education, risk management savings accounts; the uses of the futures market to manage risk and support farm income that may be established under the Federal Crop Insurance Act or other law; and, other programs the Secretary of Agriculture considers appropriate. The Agricultural Risk Protection Act of 2000 modified the Federal Crop Insurance Act to: 1) Require the Board of Directors of the Federal Crop Insurance Corporation to - establish procedures under which any policy or plan of insurance, as well as any related material or modification of such policy or plan of insurance, to be offered under this title shall be subject to independent reviews by persons experienced as actuaries and in underwriting, as determined by the Board; and 2) Direct the Board, to the maximum extent possible, to - contract with private insurance companies, private rating bureaus, and other organizations as appropriate for actuarial services, services relating to the loss adjustment and rating plan of insurance, and other services to avoid duplication by the Federal Government of services that are or may be readily available in the private sector. FCIC is attempting to determine the availability of sources within the private sector to conduct these actuarial and underwriting activities required by the Federal Crop Insurance Act. For companies interested in this Sources Sought notice, please ensure responses provide the requested information outlined below. The following is requested from interested sources. The Contractor Response must include the following Basic and Contractor Capability Information: Basic Required Information: 1. The Sources Sought number; 2. Contractor company name, address, telephone number, CAGE Code, NAICS, and SAM UEI number; 3. Confirmation that vendor is active in SAM and/or is actively taking steps to be active in SAM; 4. Company point of contact name, email address, and telephone number; 5. Identification of size, large or small, and if small identify the socioeconomic category (ie. small business, veteran-owned small business, service-disabled veteran-owned small business, Historically Underutilized Business Zone (HUBZone) small business, small disadvantaged business, and women-owned small business concern). 6. Within your response, provide a statement describing how you specifically qualify as an actuary, an underwriter, or both. State all the specific items under which you qualify. Please refer to the definitions and qualification requirements of actuary and underwriter below. Actuary - A person having technical competence relating to the current financial implications of future contingent events, especially as this affects the establishment of premium rates for insurance, as evidenced by: 1) membership, as either a fellow or associate, in the Casualty Actuarial Society; 2) at least 10 years of professional level work experience as an actuary setting rates for crop insurance or related lines such as hail, livestock, or farm insurance; or 3) at least 15 years of professional level insurance premium rate setting experience in, or equivalent to, the GS-1510 (Actuary) job series. Underwriter - A person having technical competence and experience with the design of insurance policies, the classification and acceptance or rejection of risks, or the class of asset or activity (e.g. - the production risks or economics of specific crops) proposed to be insured, and who applies such knowledge to assure the proper functioning of insurance programs, as evidenced by: 1) at least 10 years of professional level work experience as a crop insurance underwriter; 2) at least 15 years of professional level work experience as a property and casualty underwriter in fields related to crop insurance, such as hail, livestock, or farm insurance; 3) at least 15 years of experience as an agricultural risk management consultant; 4) a Ph.D. in agricultural economics with at least 5 years of post-doctoral work in crop insurance or agricultural risk management; or 5) a Ph.D. with at least 5 years of post-doctoral work in a field of agriculture, risk management, etc., directly related to the agricultural commodity or activity proposed to be insured. In Accordance with 7 USC CHAPTER 36, SUBCHAPTER I: FEDERAL CROP INSURANCE - 1506. General powers, The FCIC Board will determine the need to add sources to the general pool of Blanket Purchase Agreements as necessary to fulfil statutory requirements. Any questions in relation to this notice must be submitted in writing to Pedro.Arritola-Vazquez@usda.gov SOURCES SOUGHT RESPONSES: Submit written responses to this notice to Contract Specialist Pedro.Arritola-Vazquez@usda.gov September 30, 2024 at 6:00am EST.