Technology, Management and BudgetIssuing agency·Michigan·via the Michigan SIGMA Vendor Self Service portalFinancial Examination Services Pre-Qualification
Contractors must perform insurance company financial examinations and analyses to determine solvency and compliance with Michigan insurance laws, regulations, bulletins, and NAIC requirements. This includes developing examination plans per NAIC Examiners Handbook standards, assigning certified public accountants and senior auditors with insurance auditing experience, traveling to company sites, documenting findings in work-papers, preparing draft and final examination reports and management letters, and remaining available for related administrative or court proceedings. Contractors may also perform financial analysis tasks such as cursory and in-depth reviews of company financial statements within set timeframes. Each examination assignment is expected to be completed within 180 calendar days of assignment, with contractors paid monthly based on hours worked, subject to a 25% retainage until final acceptance.
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Most Michigan work asks for the two below, and the solicitation documents are where it’s stated. One prequalification covers both — on this bid and the next.
A surety’s written statement that it expects to bond you up to a stated amount, subject to final underwriting. It’s what an agency asks to see before they take your bid seriously.
Source: Michigan SIGMA VSS (solicitation RFP-171-260000002746-2), retrieved via the Michigan SIGMA Vendor Self Service portal. View the official posting, and always confirm requirements and deadlines with the issuing agency.
