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Maryland MIA - Purchasing·Maryland

SPECIALTY FINANCIAL EXAMINATION & AUDITING SERVICES

Closes 4/10/2026$500k – $1MRequest for Proposal
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Description

The Maryland Insurance Administration (MIA) is seeking proposals for specialty financial examination and auditing services. The MIA intends to make up to ten contract awards, with one primary contract and one backup contract for each of the five functional areas: Actuarial Services Property & Casualty, Reinsurance Services, Information Technology Services, Actuarial Services Life & Health, and Investment Services. The selected contractor will provide services on an as-needed basis, including actuarial evaluations, reviews of complex reinsurance treaties, and analysis of investment portfolios. The contractor must have experience in risk-focused examinations and be familiar with NAIC requirements and Maryland law. • The contractor will work with the MIA's Financial Regulation Unit to perform financial examinations and analyses. • The contractor will provide staff on an as-needed basis, with a minimum of 10 years of experience in providing services of the type required under this RFP. • The contractor must be able to provide personnel up to the anticipated annual hours for each functional area. • The contractor will be required to prepare examination work papers and documents, including narratives, analysis of accounts, and risk matrices.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Anthonia Chuku(Procurement Officer)

[email protected]

(410) 468-2374

Key dates

Opened
1/7/2026
Questions due
2/11/2026
Pre-bid meeting
1/22/2026
Closes
4/10/2026
Duration
5 years

Last updated

Details

Type
Request for Proposal
Industry
Financial Services
NAICS
541211
Solicitation №
BPM054787

Budget estimate

$500,000 – $1,000,000

Based on the historical information provided in the RFP, the total hours expended by previous contractors for the five-year period was approximately 7,340 hours. Assuming an average hourly rate of $100, the total contract value would be around $734,000. However, this is a rough estimate and the actual budget could be higher or lower, depending on the contract terms and the number of hours worked.

AI estimate from the solicitation

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