Services, Actuarial Consulting Services for Property & Casualty Rate Reviews

This solicitation invites proposals for actuarial consulting services focused on reviewing property and casualty insurance rate filings to ensure compliance with Maryland’s Insurance Article, the Maryland Administrative Code (COMAR), and actuarial standards of practice established by the American Academy of Actuaries. The contract aims to support the Maryland Insurance Administration in evaluating rate-related submissions, with a scope that may include other actuarial-related tasks as detailed in the RFP. The project is structured as a single award, with an estimated contract value ranging from $500,000 to $2,000,000, and will be performed primarily at the Maryland Insurance Administration’s offices in Baltimore, Maryland. The anticipated contract period begins on October 1, 2025, and concludes on September 30, 2028, with provisions for up to two additional one-year extensions. The contract will be executed on a FOB Destination basis, emphasizing performance within Maryland. The solicitation emphasizes adherence to specific evaluation factors outlined in the RFP’s selection procedures, ensuring that proposals are assessed based on criteria established by the Maryland Insurance Administration. The primary point of contact for this procurement is Anthonia Chuku, reachable via email, and interested parties can find additional details and manage the procurement process through the provided online portal.