Workers' Compensation Actuarial Services and Reporting RFP
Comptroller, Office of State
Original Solicitation Links
Contact
Submission Instructions
Description
The Office of the State Comptroller (OSC) is issuing a Request for Proposal (RFP) to procure actuarial services. The selected vendor will be responsible for preparing an annual loss reserve report for the State of Connecticut's Workers Compensation Fund. This report is crucial for complying with relevant accounting standards and will be used, in part, to report required information in the State's Annual Comprehensive Financial Statements. The scope of services includes calculating the annual loss reserve amount in compliance with Generally Accepted Accounting Principles (GAAP), as established by the Government Accounting Standards Board (GASB). The loss reserve must be calculated by department and the annual actuarial report should include a scope of the review, assumptions and limitations, a range of loss and allocated loss adjustment expense reserves by department and in total, comparisons to prior year loss reserves, and findings and recommendations with an emphasis on departmental detail. The contractor shall also provide a range of reserve estimates, including case reserves, additional development on case reserves, pure "incurred but not reported claims", reopened claims, and claims in transit. Specific agencies will be reviewed separately to isolate higher than average loss exposure and group similar agencies for greater statistical credibility. The contractor shall also review the State's claim frequency and severity trends, compare them to industry averages, and provide a graphical summary of each department's loss rates, severity, and frequency over a 15+ year period.
Classification Codes
Smart Codes
Specifications
Requirements
- General Liability — $1,000,000.00
- Automobile Liability — $1,000,000.00
- Workers' Compensation and Employer's Liability — $500,000.00
- Excess/Umbrella Liability — $2,000,000.00
- Professional Liability — $10,000,000.00
- Information Security Privacy/Cyber Security Liability — $1,000,000.00
- Minimum 3 references
- Client point of contact required for each reference
Documents
| Title | Date Posted |
|---|---|
| OSC RFP for Workers' Comp Analysis - Draft 5-21-26.pdf | Jun 15, 2026 03:16 PM |
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