Maryland Procurement Portal #BPM058029

Consulting Services for Study on Captive Insurers and Premium Receipts Tax in Maryland

This opportunity is a request from the Maryland Insurance Administration (MIA) for consulting services to conduct a study on captive insurance companies and the premium receipts tax in Maryland. - Government Buyer: - Maryland Insurance Administration (MIA) - OEMs and Vendors: - No specific OEMs or vendors are named in the solicitation - Products/Services Requested: - Management, business, and administrative consulting services focused on insurance regulation and taxation - Study on the use, regulation, and taxation of captive insurance companies in Maryland - Stakeholder consultation and delivery of a comprehensive final report with findings and recommendations - Offerors must provide a fully loaded fixed hourly rate for services (estimated 200 hours) - Unique or Notable Requirements: - Direct consultation with relevant stakeholders - Preparation and submission of a detailed legislative report to the Governor and legislative committees - Compliance with requirements set by recent state legislation (S.B. 890)

Description

The Maryland Insurance Administration (MIA) is seeking services to study the use, regulation, and taxation of captive insurance companies by entities in Maryland as mandated by the 2026 Maryland Laws Ch. 638 (S.B. 890). The study requires consultation with relevant stakeholders and the submission of a final report with findings and recommendations to the Governor and legislative committees by January 1, 2027. Offerors must provide a fully loaded fixed hourly rate for the requested services and submit a completed financial proposal form. The solicitation is open with a submission deadline of July 30, 2026, at 4:00 PM EST.

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