Services, Actuarial Consulting Services for Property & Casualty Rate Reviews

The Maryland Insurance Administration (MIA) is seeking actuarial consulting services to review certain rate and rate-related filings to determine compliance with the Insurance Article of the Annotated Code of Maryland and COMAR. The selected contractor will be required to analyze rating models and other actuarial-related items, and provide expert testimony if needed. The contract will be for a three-year base period with two one-year option periods. • The contractor will be required to review rate filings and provide actuarial reports and opinions. • The contractor will be required to have a lead reviewer with a Fellow of the Casualty Actuarial Society (FCAS) designation and be a member in good standing of the American Academy of Actuaries. • The contractor will be required to provide weekly status updates and participate in discussions with the State Contract Monitor. • The contractor will be required to meet specific software and hardware requirements. • The contractor will be required to provide a project schedule and meet specific deadlines.