The Delaware Department of Insurance is seeking a qualified firm to provide comprehensive actuarial consulting services across the agency. The work is split between recurring “discrete billable services”—such as reviewing and analyzing property‑and‑casualty rate filings, DCRB filings, captive insurance applications, accident‑and‑health, life‑and‑annuity, long‑term care, and Medicare Supplement filings—and discretionary non‑billable services that may be requested on an as‑needed basis. Vendors must meet tight turnaround times (e.g., 10 business days for clean filings), submit analyses via the SERFF system, and provide expert testimony when required. The contract is for a three‑year term with two optional one‑year extensions, and proposals are evaluated on experience (45 %), ability to meet performance expectations (25 %), staffing approach (10 %), references (10 %), and pricing (10 %).
• Scope includes actuarial analysis of >3,000 P&C filings, >1,000 Accident & Health filings, and related insurance products.
• Mandatory deliverables: rate‑analysis memoranda, SERFF submissions, monthly usage reports, and quarterly subcontractor reports.
• No bond required; insurance coverage minimums are specified (CGL $1M/$3M, E&O $1M/$3M, etc.).
• Vendors must be independent of the insurance industry, hold Delaware business licensure, and certify that all work stays within the United States.