12-001290 Receivership Administration Services

THE NORTH CAROLINA COMMISSIONER OF
INSURANCE IN HIS CAPACITY AS RECEIVER
Request for Proposal #: 12-001290
ADMINISTRATION SERVICES
Date of Issue: March 30, 2026
Proposal Opening Date: May 18, 2026
2:00PM ET
Direct all inquiries concerning this RFP to:
Marwan Zabaneh
Financial Research Manager
Email: Marwan.Zabaneh@ncdoi.gov
Phone: 919-807-6143
Ver: 11/2023

THE NORTH CAROLINA COMMISSIONER OF
INSURANCE IN HIS CAPACITY AS RECEIVER
Request for Proposal #
12-001290
For Receiver processing, including tabulation of proposals, provide your company's eVP (Electronic
Vendor Portal) Number. Pursuant to G.S. 132-1.10(b) this identification number shall not be released to the
public. This page will be removed and shredded, or otherwise kept confidential, before the
procurement file is made available for public inspection.
This page is to be filled out and returned with your proposal.
Failure to do so may subject your proposal to rejection.
Vendor Name
Vendor eVP#
Note: For your proposal to be considered, your company (you) must be a North Carolina
registered vendor in good standing. You must enter the vendor number assigned through eVP
(Electronic Vendor Portal). If you do not have a vendor number, register at
https://vendor.ncgov.com/vendor/login

THE NORTH CAROLINA COMMISSIONER OF INSURANCE
IN HIS CAPACITY AS RECEIVER
Refer ALL Inquiries regarding this RFP to: Request for Proposal #: 12-001290
Marwan Zabaneh Proposals will be opened:
Financial Research Manager May 18, 2026 at 2:00 PM ET
(919) 807-6143
Marwan.Zabaneh@ncdoi.gov
Using Agency: The North Carolina Commodity No. and Description:
Commissioner of Insurance in His Capacity as 941016 Professional Associations
Receiver
EXECUTION
In compliance with this Request for Proposals (RFP), and subject to all the conditions herein, the undersigned Vendor offers and
agrees to furnish and deliver any or all items upon which prices are bid, at the prices set opposite each item within the time
specified herein.
By executing this proposal, the undersigned Vendor understands that false certification is a Class I felony and certifies that:
this proposal is submitted competitively and without collusion (G.S. 143-54),
none of its officers, directors, or owners of an unincorporated business entity has been convicted of any violations of
Chapter 78A of the General Statutes, the Securities Act of 1933, or the Securities Exchange Act of 1934 (G.S. 143- 59.2),
and
it is not an ineligible Vendor as set forth in G.S. 143-59.1.
Furthermore, by executing this proposal, the undersigned certifies to the best of Vendor's knowledge and belief, that:
it and its principals are not presently debarred, suspended, proposed for debarment, declared ineligible or voluntarily
excluded from covered transactions by any Federal or State department or agency.
Laws affecting the Receiver and policies of the Receiver prohibit the offer to, or acceptance by, an employee of the Receiver of
any gift from anyone with a Contract with the Receiver, or from any person seeking to do business with the Receiver. By execution
of this response to the RFP, the undersigned certifies, for Vendor's entire organization and its employees or agents, that Vendor
is not aware that any such gift has been offered, accepted, or promised by any employees of your organization.
By executing this bid, Vendor certifies that it has read and agreed to the ATTACHMENT B: INSTRUCTION TO VENDORS and
the ATTACHMENT C: GENERAL CONTRACT TERMS AND CONDITIONS.
Failure to execute/sign proposal prior to submittal may render proposal invalid and it MAY BE REJECTED.
Late proposals cannot be accepted.
COMPLETE/FORMAL NAME OF VENDOR:
STREET ADDRESS: P.O. BOX: ZIP:
CITY & STATE & ZIP: TELEPHONE NUMBER: TOLL FREE TEL. NO:
PRINCIPAL PLACE OF BUSINESS ADDRESS IF DIFFERENT FROM ABOVE:
PRINT NAME & TITLE OF PERSON SIGNING ON BEHALF OF VENDOR: FAX NUMBER:
VENDOR'S AUTHORIZED SIGNATURE*: DATE: EMAIL:
VALIDITY PERIOD
Offer shall be valid for at least ninety (90) days from date of bid opening, unless otherwise stated here: __ days. After this date,
any withdrawal of offer shall be made in writing, effective upon receipt by the Receiver issuing this RFP.
Ver: 11/2023 Page 1 of 38

ACCEPTANCE OF PROPOSAL
If your proposal is accepted, all provisions of this RFP shall be incorporated by reference into the written Services Agreement
between the parties ("Contract") along with a statement of work including scope of services and compensation for each project arising
during the term of this RFP. Dependent upon the product or service being offered, other terms and conditions may apply.
FOR RECEIVER USE ONLY: Offer accepted and Contract awarded this day of , 20 , as indicated
on the attached certification, by .
(Authorized Representative of The North Carolina Commissioner of Insurance in His
Capacity as Receiver)
Ver: 11/2023 Page 2 of 38

Proposal Number: 12-001290 Vendor:
Contents
1.0 PURPOSE AND BACKGROUND ............................................................................................... 5
1.1 CONTRACT TERM .................................................................................................................... 6
2.0 GENERAL INFORMATION ......................................................................................................... 6
2.1 REQUEST FOR PROPOSAL DOCUMENT............................................................................... 6
2.2 E-PROCUREMENT SOLICITATION ......................................................................................... 6
2.3 NOTICE TO VENDORS REGARDING RFP TERMS AND CONDITIONS ................................ 6
2.4 RFP SCHEDULE ....................................................................................................................... 7
2.5 PROPOSAL QUESTIONS ......................................................................................................... 7
2.6 PROPOSAL SUBMITTAL ......................................................................................................... 7
2.7 PROPOSAL CONTENTS .......................................................................................................... 8
2.8 ALTERNATE PROPOSALS ...................................................................................................... 9
3.0 METHOD OF AWARD AND PROPOSAL EVALUATION PROCESS ........................................ 9
3.1 METHOD OF AWARD ............................................................................................................... 9
3.2 CONFIDENTIALITY AND PROHIBITED COMMUNICATIONS DURING EVALUATION ........ 10
3.3 PROPOSAL EVALUATION PROCESS .................................................................................. 10
3.4 EVALUATION CRITERIA ........................................................................................................ 11
3.5 PERFORMANCE OUTSIDE THE UNITED STATES ............................................................... 11
3.6 INTERPRETATION OF TERMS AND PHRASES ................................................................... 12
4.0 REQUIREMENTS ...................................................................................................................... 12
4.1 PRICING .................................................................................................................................. 12
4.2 INVOICES ................................................................................................................................ 12
4.3 FINANCIAL STABILITY .......................................................................................................... 12
4.4 VENDOR EXPERIENCE .......................................................................................................... 12
4.5 REFERENCES ......................................................................................................................... 13
4.6 PERSONNEL ........................................................................................................................... 13
4.7 VENDOR'S REPRESENTATIONS ..................................................................................................... 13
4.8 PROFESSIONAL WORK PAPERS ......................................................................................... 13
5.0 SCOPE OF WORK .................................................................................................................... 14
5.1 CLASSES OF SERVICES ....................................................................................................... 14
5.2 OBJECTIVES AND TASKS..................................................................................................... 14
5.2.1 RECEIVERSHIP ADMINISTRATION SERVICES ................................................................... 14
Ver:2/1/2021 Page 3 of 38

Proposal Number: 12-001290 Vendor:
5.2.2 ACCOUNTING, AUDITING AND TAX SERVICES .................................................................. 15
5.2.3 INFORMATION TECHNOLOGY SERVICES ........................................................................... 15
5.2.4 REINSURANCE SERVICES .................................................................................................... 16
5.2.5 ACTUARIAL SERVICES ......................................................................................................... 16
5.2.6 INVESTMENT SERVICES ....................................................................................................... 16
5.2.7 LEGAL SERVICES .................................................................................................................. 17
5.2.8 INVESTMENT BANKING SERVICES ..................................................................................... 17
5.2.9 CLAIMS ADMINISTRATION AND POLICYHOLDER SERVICES .......................................... 17
5.3 RESOURCE AVAILABILITY ................................................................................................... 17
5.4 PROJECT ORGANIZATION .................................................................................................... 18
5.5 TECHNICAL APPROACH ....................................................................................................... 18
6.0 CONTRACT ADMINISTRATION............................................................................................... 18
6.1 PROJECT MANAGER AND CUSTOMER SERVICE .............................................................. 18
6.2 POST AWARD MANAGEMENT REVIEW MEETINGS ........................................................... 18
6.3 CONTINUOUS IMPROVEMENT ............................................................................................. 18
6.4 ACCEPTANCE OF WORK ...................................................................................................... 18
6.5 TRANSITION ASSISTANCE ................................................................................................... 19
6.6 DISPUTE RESOLUTION ......................................................................................................... 19
6.7 CONTRACT CHANGES .......................................................................................................... 19
6.8 ATTACHMENTS...................................................................................................................... 19
7.0 OTHER CONSIDERATIONS ..................................................................................................... 19
ATTACHMENT A: PRICING ................................................................................................................ 21
ATTACHMENT B: INSTRUCTIONS TO VENDORS ........................................................................... 25
ATTACHMENT C: GENERAL CONTRACT TERMS AND CONDITIONS .......................................... 32
ATTACHMENT D: HUB SUPPLEMENTAL SUPPLIER INFORMATION ............................................ 38
ATTACHMENT E: CUSTOMER REFERENCE TEMPLATE ............................................................... 38
ATTACHMENT F: LOCATION OF WORKERS UTILIZED BY VENDOR .......................................... 38
ATTACHMENT G: CERTIFICATION OF FINANCIAL CONDITION .................................................... 38

Proposal Number: 12-001290 Vendor:
1.0 PURPOSE AND BACKGROUND
The North Carolina Commissioner of Insurance, acting in his capacity as the statutory receiver of entities subject to
delinquency proceedings conducted pursuant to the provisions of Article 30 of Chapter 58 of the North Carolina General
Statutes (the "Receiver"), is issuing a new solicitation for its previously issued RFP #12-001178 dated June 14, 2021.
Vendors approved under the previously issued RFP and that executed extensions remain approved through June 30,
2026. The new solicitation covers the period July 1, 2026, through June 30, 2029. Therefore, all interested Vendors,
including Vendors previously approved under previous RFP #12-001178, must respond to this RFP.
The purpose of this RFP is to improve and assist in the administration of receiverships conducted pursuant to
the provisions of Article 30 of Chapter 58 of the North Carolina General Statutes.
The Receiver solicits proposals from Vendors to provide nine classes of service on a nationwide basis, as follows:
1. Receivership Administration
2. Accounting, Auditing and Tax
3. Information Technology ("IT")
4. Reinsurance
5. Actuarial
6. Investment
7. Legal
8. Investment Banking
9. Claims Administration and Policyholder Services
Vendors may apply for any or all of the classes of service listed above and any or all of the tasks listed in Section 5.2
OBJECTIVES AND TASKS, of this RFP.
The services required by this RFP will be requested on an as-needed basis. By placing one or more qualified Vendors
on contract to provide professional services, the Receiver is better prepared to address receivership needs and other
nonrecurring, acute increases in workload. Additionally, services performed under this RFP will allow the Receiver to
respond in a timely manner and provide the highest level of service. From the list of available Vendors, the Receiver
will select at its discretion individual Vendors for particular projects as the need arises. A specific Services Agreement
between the selected Vendor and the Receiver, including a statement of scope of services and compensation, will be
executed for each project arising during the term of this RFP period. The Vendors agree that the terms and provisions
of this RFP and any addenda issued hereto shall be incorporated by reference into the specific Services Agreements
for each project. Prospective Vendors are expected to provide services that comply with applicable law, orders of any
court with jurisdiction, standards established by the Receiver, the National Association of Insurance Commissioners
("NAIC"), and the applicable professional organizations in their respective fields of work.
This RFP seeks services and pricing for the entire RFP term of July 1, 2026, through June 30, 2029. Proposals may
offer services and pricing for the entire term or for shorter periods within the term as indicated in ATTACHMENT A:
PRICING.
Proposals shall be submitted in accordance with the terms and conditions of this RFP and any addenda issued hereto.
THE RECEIVER IS NOT A STATE AGENCY AND IS, THEREFORE, EXEMPT FROM STATE PURCHASING AND
CONTRACT REGULATIONS. APPROVED VENDORS ARE NOT GUARANTEED A MINIMUM OR MAXIMUM
AMOUNT UNDER THIS CONTRACT. THE RECEIVER MAKES NO COMMITMENT TO ACQUIRE ANY SERVICES
UNDER THIS CONTRACT. THE RECEIVER RETAINS COMPLETE DISCRETION AS TO THE SELECTION AND
USE OF VENDORS.
Ver: 11/2023 Page 5 of 38

Proposal Number: 12-001290 Vendor:
1.1 CONTRACT TERM
The Contract shall have an initial term of three (3) years, beginning July 1, 2026, and ending June 30, 2029.
At the end of the Contract's current term, the Receiver shall have the option, in its sole discretion, to renew the Contract
on the same terms and conditions for up to a total of three (3) additional one-year terms. The Receiver will give the
Vendor written notice of its intent to exercise each option no later than thirty (30) days before the end of the Contract's
then-current term. In addition to any optional renewal terms, and with the Vendor's concurrence, the Receiver reserves
the right to extend a contract term after the last active term.
Proposals shall be submitted in accordance with the terms and conditions of this RFP and any addenda issued hereto.
2.0 GENERAL INFORMATION
2.1 REQUEST FOR PROPOSAL DOCUMENT
The RFP is comprised of the base RFP document, any attachments, and any addenda released before Contract award,
which are incorporated herein by reference.
2.2 E-PROCUREMENT SOLICITATION
ATTENTION: This is NOT an E-Procurement solicitation.
2.3 NOTICE TO VENDORS REGARDING RFP TERMS AND CONDITIONS
It shall be the Vendor's responsibility to read the Instructions to Vendors, the Receiver's terms and conditions, all relevant
exhibits and attachments, and any other components made a part of this RFP and comply with all requirements and
specifications herein. Vendors also are responsible for obtaining and complying with all Addenda and other changes
that may be issued in connection with this RFP.
If Vendors have questions or issues regarding any component of this RFP, those must be submitted as questions in
accordance with the instructions in Section 2.5 PROPOSAL QUESTIONS. If the Receiver determines that any changes
will be made as a result of the questions asked, then such decisions will be communicated in the form of an RFP
addendum. The Receiver may also elect to leave open the possibility for later negotiation and amendment of specific
provisions of the Contract that have been addressed during the question-and-answer period, prior to contract award.
Other than through this process, the Receiver rejects and will not be required to evaluate or consider any additional or
modified terms and conditions submitted with Vendor's proposal or otherwise. This applies to any language appearing
in or attached to the document as part of the Vendor's proposal that purports to vary any terms and conditions or Vendors'
instructions herein or to render the proposal non-binding or subject to further negotiation. Vendor's proposal shall
constitute a firm offer that shall be held open for the period required herein ("Validity Period" above).
By execution and delivery of this RFP Response, the Vendor agrees that any additional or modified terms and
conditions, whether submitted purposely or inadvertently, shall have no force or effect, and will be disregarded.
Noncompliance with, or any attempt to alter or delete, this paragraph shall constitute sufficient grounds to reject
Vendor's proposal as nonresponsive.
By executing and submitting its proposal in response to this RFP, Vendor understands and agrees that the Receiver
may exercise its discretion not to consider any and all proposed modifications Vendor(s) may request and may accept
Vendor's proposal under the terms and conditions of this RFP.
Contact with anyone working for or with the Receiver, including State employees working for the North Carolina
Department of Insurance, regarding this RFP, other than the Financial Research Manager named on the face page of
this RFP in the manner specified by this RFP shall constitute grounds for rejection of said Vendor's offer, at the Receiver's
election.
Ver: 11/2023 Page 6 of 38

Proposal Number: 12-001290 Vendor:
2.4 RFP SCHEDULE
The table below shows the intended schedule for this RFP. The Receiver will make every effort to adhere to this schedule.
Event Responsibility Date and Time
Issue RFP Receiver Monday, March 30, 2026
Submit Written Questions Vendor Friday, April 10, 2026
Provide Response to Questions Receiver Monday, April 20, 2026
Submit Proposals Vendor Monday, May 18, 2026 at 2:00 PM ET
Contract Award Receiver Monday, June 29, 2026
Contract Effective Date Receiver Wednesday, July 1, 2026
2.5 PROPOSAL QUESTIONS
Upon review of the RFP documents, Vendors may have questions to clarify or interpret the RFP in order to submit the
best proposal possible. To accommodate the Proposal Questions process, Vendors shall submit any such questions by
the above due date.
Questions related to the content of the solicitation, or the procurement process should be directed to the person on the
title page of this document via the Sourcing Tool's message board by the date and time specified in the RFP SCHEDULE
Section above. Vendors will enter "RFP #12-001290 - Questions" as the subject of the message. Question submittals
should include a reference to the applicable RFP section, page number and text. This is the only manner in which
questions will be received.
Questions or issues related to using the Sourcing Tool itself can be directed to the North Carolina eProcurement Help
Desk at 888-211-7440, Option 2. Help Desk representatives are available Monday through Friday from 7:30 AM ET to
5:00 PM ET.
Questions received prior to the submission deadline date, the Receiver's response, and any additional terms deemed
necessary by the Receiver will be posted in the Sourcing Tool in the form of an addendum and shall become an
Addendum to this RFP. No information, instruction or advice provided orally or informally by any Receiver personnel,
whether made in response to a question or otherwise in connection with this RFP, shall be considered authoritative or
binding. Vendors shall rely only on written material contained in the RFP and any addendum to this RFP.
2.6 PROPOSAL SUBMITTAL
IMPORTANT NOTE: This is an absolute requirement. Late bids, regardless of cause, will not be opened or
considered, and will be automatically disqualified from further consideration. Vendor shall bear the sole risk of late
submission due to unintended or unanticipated delay. It is the Vendor's sole responsibility to ensure its proposal has
been received as described in this RFP by the specified time and date of opening. Failure to submit a proposal in strict
accordance with instructions provided shall constitute sufficient cause to reject a Vendor's proposal(s). Solicitation
responses are subject to Sealed Bidding requirements.
Vendor's proposals for this procurement must be submitted through the Sourcing Tool. For training on how to use the
Sourcing Tool to view solicitations, submit questions, develop responses, upload documents, and submit offers,
Vendors should go to the following site: https://eprocurement.nc.gov/training/vendor-training
Questions or issues related to using the Sourcing Tool itself can be directed to the North Carolina eProcurement Help
Desk at 888-211-7440, Option 2. Help Desk representatives are available Monday through Friday from 7:30 AM EST
to 5:00 PM EST.
Ver: 11/2023 Page 7 of 38

Proposal Number: 12-001290 Vendor:
Tips for Using the Sourcing Tool
1. Vendors should review available training and confirm that they are able to access the Sourcing Event, enter
responses, and upload files well in advance of the date and time response are due to allow sufficient time to seek
assistance from the North Carolina eProcurement Help Desk.
2. Vendors may submit their responses early to make sure there are no issues, and then submit a revised response
any time prior to the response due date and time. The Receiver will only review the most recent response.
3. Vendors should respond to all relevant sections of the Sourcing Event. Certain questions or items are required in
order to submit a response and are denoted with an asterisk. The Sourcing Tool will not allow a response to be
submitted unless all required items are completed. The Sourcing Tool will provide error messages to help identify
any required information that is missing when response is submitted.
4. Simply saving your response in the Sourcing Tool is not the same as submitting your response to the Receiver.
Vendors should make sure they complete the submission process and receive a message that their response was
successfully submitted.
5. Only Proposals submitted through the Content Section of the Ariba Sourcing Event will be considered.
Proposals submitted through the Message Board will not be accepted or considered for award.
If confidential and proprietary information is included in the proposal, also submit one (1) signed, REDACTED copy of
the proposal. Such information may include trade secrets defined by N.C. Gen. Stat. 66-152 and other information
exempted from the Public Records Act pursuant to N.C. Gen. Stat. 132- 1.2. Vendor may designate information,
Products, Services or appropriate portions of its response as confidential, consistent with and to the extent permitted
under the statutes and rules set forth above. By so redacting any page, or portion of a page, the Vendor warrants that
it has formed a good faith opinion, having received such necessary or proper review by counsel and other
knowledgeable advisors, that the portions determined to be confidential and proprietary and redacted as such, meet
the requirements of the Rules and Statutes set forth above. However, under no circumstances shall price information
be designated as confidential.
If the Vendor does not provide a redacted version of the proposal with its proposal submission, the Receiver may release
an unredacted version if a record request is received.
2.7 PROPOSAL CONTENTS
Vendors shall provide responses to all questions and complete all attachments for this RFP that require the Vendor to
provide information and upload them to the Sourcing Event in the Sourcing Tool. Vendor may not be able to submit its
response in the Sourcing Tool unless all required items are addressed. Vendors shall provide authorized signature where
requested. Failure to provide all required items, or Vendor's submission of incomplete items, may result in the Receiver
rejecting Vendor's proposal, in the Receiver's sole discretion. Vendor shall include the following items and attachments
in the Sourcing Tool:
a) Cover Letter, which must contain the following: (i) a statement that confirms that the proposer has read
the RFP in its entirety, including all links, and all Addenda released in conjunction with the RFP; (ii) a
statement that the Vendor agrees to perform in accordance with the scope of work, requirements, and
specifications contained herein; and (iii) Vendor's agreement to comply with all instructions, terms and
conditions, and attachments. This letter should highlight the contents of the proposal, include an email
address for contact purposes, and bear the authorized signature of an individual who can bind the
Vendor to a contract. As indicated previously, the Vendor may respond to any or all of the classes of
service listed in Section 5.1 CLASSES OF SERVICE of this RFP and any or all of the tasks listed in
Section 5.2 OBJECTIVES AND TASKS of this RFP. The cover letter must clearly identify the classes of
service and the specific tasks under each that the proposal is for. It is expected that the Vendor's
experience and technical abilities with respect to each of the tasks the proposal is for be clearly addressed
in the proposal. Failure to address experience and technical abilities with respect to a class of
service and task may disqualify the Vendor from consideration for that service or task.
b) Title Page: Include the Vendor name, address, phone number and authorized representative along with
the Proposal Number.
Ver: 11/2023 Page 8 of 38