Citycounty Insurance Services (CIS) is soliciting offers from qualified vendors to provide actuarial analysis and conduct annual actuarial studies for the CIS Property/Casualty Trust (P/C Trust). CIS is issuing this RFP because their purchasing policy requires them to conduct an RFP for actuarial services at least every five years.
The Trust provides joint self-insured coverages for property and liability, as well as associated risk management services. The Trust also administers a workers’ compensation program which is in its third year of runout. CIS is responsible for allocating the costs of claims and expenses associated with the operation of the CIS Trust among its members. While allocating costs, CIS
attempts to balance goals of fairness for individual members with stability in contributions from year to year.
Annual actuarial studies provide CIS with reasonable projections of:
▪ loss costs including allocated loss adjustment expenses;
▪ program claim reserves; funding estimates;
▪ cost allocation models; and
▪ alternative premium plans including retrospective rating closeout parameters.
CIS also expects the actuarial study to provide recommendations which address any noted problem areas or improve the quality and future cost effectiveness of the self-insured programs.
The CIS P/C Trust’s consulting actuary reports directly to the CIS Board of Trustees.
For further details, view RFP.
Proposals must be received by 5:00 p.m. (PT) on May 29, 2024. Any proposal received after this date and time will not be considered.
--
RFPs or RFQs for products, services or vendors are published in this space at no cost to member pools. Contact AGRiP to have an RFP or RFQ added to this page.