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EXTRA-4803 - USA (Jackson, Mississippi) - Actuarial Consulting Services - Deadline April 12,2019

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: EXTRA-4803

Government Authority located in Jackson, Mississippi; USA based organization looking for expert vendor for actuarial consulting services.

[A] Budget: Looking for Proposals

[B] Scope of Service:

(1) Vendor needs to provide actuarial consulting services to the government authority located in Jackson, MS.
- Provide an annual actuarial analysis of the Trust. This analysis should include, but not necessarily be limited to, an estimate of claims liability including incurred but not reported claims, as well as recommendations for future funding.
- Provide premium rate evaluations, including annually updating the rates and the rating base amounts. Rather than using NCCI rates, the trust has adopted a premium methodology which utilizes its members’ actual loss experience in establishing premium rates each year. Using actual claims data from the trust’s twenty-nine years of experience, the consulting actuary will be expected to annually perform the necessary analysis and provide the trust with recommended individual composite rates for each participating agency.
- As requested on behalf of the trust, provide assistance in preparation of a request for proposals for procuring the third-party claims administration contract, loss control contract, and other necessary contracts.
- As requested on behalf of the trust, review various reports submitted by the third-party claims administrator and make suggestions on the format and content of the reports, with the overall purpose of making the reports useful and meaningful to the trust.
- As requested on behalf of the trust, provide testimony to the state agencies self-insured workers’ compensation board of trustees, the workers' compensation commission, the state legislature, and trust members as needed.
- Maintain full and accurate records with respect to all matters covered under this contract. Additionally, upon request, the consulting actuary shall provide copies of all spreadsheets, assumptions, and calculations upon completion of any project approved.
- As requested on behalf of the trust, provide such advice and consultative services regarding issues and matters of impact or interest to the trust, and for which the consulting actuary has the technical capability to render.
- Provide an annual actuarial analysis of the state agencies employment compensation revolving fund. This analysis should include, but not necessarily be limited to, an estimate of claims liability, as well as recommendations for future funding.
- As requested, provide premium rate evaluations and recommendations. Using claims and financial data provided, the consulting actuary may be expected to annually perform the necessary analysis and provide funding recommendations.
- As requested, provide testimony to the state legislature or other regulatory committees as needed.
- Maintain full and accurate records with respect to all matters covered under this contract.
- As requested, provide such advice and consultative services regarding issues and matters of impact or interest to the fund, and for which the consulting actuary has the technical capability to render.
(2) All questions must be submitted no later than March 26, 2019.

[C] Eligibility:

- Onshore (USA Only);

[D] Work Performance:

Not Applicable

Expiry Date : Friday, 12 April, 2019

Question Answer Deadline : Tuesday, 26 March, 2019

Category : Professional, Consulting, Administrative or Management Support Services

Country : USA

State : Mississippi

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