Rate Factor Study

The Office of the Insurance Commissioner is seeking proposals from qualified vendors to conduct a rate factor study. The study will analyze information insurers use to determine personal insurance premiums, rates, and coverage, and evaluate the impact of rate factors on consumer costs and availability of insurance for Washington residents. The contractor will be responsible for data collection, actuarial analysis, and developing policy options for legislative consideration. The contract is expected to begin on December 22, 2025, and end on December 31, 2026, with the option for two one-year extensions. • The contractor must have experience in the areas of work described in the scope of work. • The contractor must be licensed to do business in the State of Washington or commit to becoming licensed within 30 days of being selected. • The contractor must agree to the certifications and assurances set forth in Exhibit A. • The contractor must submit proposals as specified in the RFP. • The contractor must employ or subcontract with an insurance actuary who is a member of the American Academy of Actuaries. • The contractor must demonstrate ability to operationalize a data security plan if the proposed data call includes confidential data collection.