The Office of Public Insurance Counsel has granted two no-bid contracts for fiscal year 2017.
The agency’s requirements are very specialized for actuarial and financial consulting services as OPIC requires that its experts have the highest possible professional qualifications with no material conflicts of interest with the insurance industry. Additionally, the agency requires a successful track record of participation in the regulatory process on behalf of consumers. The agency has determined that actuarial and financial professionals having these qualifications are very rare and developing a bid process would add expense to the operation of the agency while not reasonably increasing the number of qualified contractors with the required skill set.
A copy of each no-bid contract entered into by OPIC in fiscal year 2017 is available for review by clicking here.