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General Information
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Department for this solicitation:
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Procurement
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Date Prepared:
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10/30/24
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Types:
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RFP
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Advertisement Type:
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Solicitation/Project#:
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OGC-2024-19
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Solicitation/Project Title:
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Insurance Law - Solvency/RBC Counsel
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Description:
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This request for proposals (RFP) provides to those law firms interested in submitting proposals for the subject procurement (“Offerors”) sufficient information to enable them to prepare and submit proposals for the Governor’s Office of General Counsel’s consideration on behalf of the Commonwealth of Pennsylvania (“Commonwealth”) to satisfy a need for legal services during the term of the contract (“the Matter”).
The Pennsylvania Insurance Department, Office of Corporate and Financial Regulation (“OCFR”) has identified a need for legal services with respect to the evaluation, examination and oversight of the financial condition of insurance companies under the Suspension of Business – Involuntary Dissolutions Law (Article V of The Insurance Department Act – 40 P.S. §§ 221.1-221.63), the Risk-Based Capital Statutes (Articles V-A and V-B of The Insurance Department Act – 40 P.S. §§ 221.1-A – 221.15-A, 40 P.S. §§ 221.1-B – 221.15-B), the Examinations Law (Article IX of The Insurance Department Act – 40 P.S. §§ 323.1-323.8), Insurance Holding Companies Law (Article XIV of The Insurance Company Law – 40 P.S. §§ 991.1401 – 991.1414), Risk Management and Own Risk Solvency Assessment Law (Article XXVI of The Insurance Company Law - 40 P.S. §§ 991.2601 – 991.2610) and Corporate Governance Annual Disclosure Law (40 Pa.C.S. §§ 3901 – 3911). With respect to the Risk-Based Capital Statutes, this engagement may include review of RBC Plans or revised RBC Plans, examination or analysis of the assets, liabilities and operations of troubled insurance companies, formulation of a Corrective Order, handling related litigation and provision of legal advice. With respect to the Examination Law, this engagement may include acting as an examiner, handling related litigation and the provision of legal advice. The scope of engagement may also include could include seeking an administrative declaration of insolvency and prosecuting a petition for liquidation before the Commonwealth Court (both likely contested) or advising the Commissioner as adjudicator in administrative matters. This engagement may include other general work as designated by the Chief Counsel of the Pennsylvania Insurance Department, the OCFR and the Office of General Counsel.
This RFP is issued pursuant to Executive Order 2015-2 dated January 20, 2015, and in accordance with Section 518 of the Commonwealth Procurement Code, 62 P.S. § 518 and Part III Chapter 8 of the DGS Procurement Handbook.
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Go to Solicitation Tabulations
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No Tabulations exist for OGC-2024-19.
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Go to Awards
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No Awards exist for OGC-2024-19.
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Go to Contracts
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No Contracts exist for OGC-2024-19.
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