Description
The State of Nevada Purchasing Division, on behalf of The Department of Business & Industry, Division of Insurance (NDOI) is seeking proposals from qualified vendors to establish a pool of contract examiners to provide statutory analysis and examination services on an as-needed basis. The scope of work includes performing actuarial reviews, financial analysis, and examinations of insurers and other regulated entities. Vendors will be required to work under close coordination with the Division and provide services such as risk-focused analysis, financial examination, market conduct examination, and actuarial analysis. The contract term is expected to be four years, subject to Board of Examiners approval.
Some key points to consider:
• Vendors will be selected based on their technical proposal, cost proposal, and response to mandatory minimum requirements and critical items.
• The State strongly prefers vendors to agree to the terms of the attached standard form contract and insurance schedule as is.
• Vendors must provide proof of designations, such as CFE, CPA, MCM, AMCM, CIE, etc. for individuals who will be overseeing or signing off on examination reports.
• Vendors must demonstrate extensive knowledge of statutory accounting principles, especially with regard to reinsurance transactions and their impact on an insurer’s financial statements.