Oregon Buys #S-10700-00017668

Oregon Risk Management Actuarial Services for Liability Reserves and Funding Estimates

The State of Oregon is seeking actuarial support to estimate reserves and funding needs for its risk management programs. - Government buyer: State of Oregon, Department of Administrative Services (DAS), through State Procurement Services on behalf of DAS Risk Management. - Requested service: One Risk Management Actuarial Services engagement covering tort liability, property, and workers’ compensation. - Work includes annual actuarial reports estimating outstanding liabilities and appropriate funding levels, including claim payments, legal fees, and other loss adjustment expenses. - Estimates must use agreed confidence levels and discount rates, accepted actuarial methods, and practices consistent with GASB Statement No. 10. - Scope also includes project kickoff and planning, data analysis and segregation, report revisions, and support for state audits of reserve or funding levels. - Term: Six-year initial term, with extensions possible up to a maximum of 10 years. Annual reporting is required; specific contract dates are not provided. - No OEMs, commercial vendors, or product part numbers are identified.

Description

The State of Oregon Department of Administrative Services is seeking proposals for actuarial services. The services support setting incurred-but-not-yet-reported reserves and determining the total annual cost of risk for the three coverages outlined in Section 2.4. The selected proposer will provide an actuarial report as of June 30 each year, estimating outstanding liabilities and appropriate annual funding levels.

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