Maryland Procurement Portal #BPM058256

Maryland Insurance Administration Solicits Study on Captive Insurers and Premium Receipts Tax

This opportunity is a solicitation from the Maryland Insurance Administration (MIA) for a legislative study on captive insurance companies and the premium receipts tax: - Government Buyer: - Maryland Insurance Administration (MIA) - Products/Services Requested: - Research, analysis, and reporting services focused on the use, regulation, and taxation of captive insurance companies in Maryland - 200 hours of professional services as specified in the financial proposal form - OEMs and Vendors: - No specific Original Equipment Manufacturers (OEMs) or vendors are named in the solicitation - Unique or Notable Requirements: - Vendor must consult with relevant stakeholders during the study - Deliver a comprehensive final report with findings and recommendations to the Governor and legislative committees - Work is mandated by recent state legislation (S.B. 890) and must address legislative requirements for analysis and reporting - The scope is limited to research, stakeholder engagement, and legislative reporting on insurance regulation and taxation

Description

This solicitation is for a study mandated by the 2026 Maryland Laws Ch. 638 (S.B. 890) requiring the Maryland Insurance Administration (MIA) to examine the use, regulation, and taxation of captive insurance companies in Maryland. The MIA will consult with relevant stakeholders and submit a final report with findings and recommendations to the Governor and legislative committees by January 1, 2027. The procurement involves providing 200 hours of work as detailed in the financial proposal form. The solicitation is issued by the Maryland Insurance Administration and is currently open for responses.

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