Property Insurance Analysis Services

Summary (Newest Update)

Background The State of Oregon, through the Department of Consumer and Business Services, Division of Financial Regulation, is issuing this Request for Proposal (RFP) for Property Insurance Market Study and Feasibility Analysis Services. This initiative is mandated by the 2025 Oregon Senate Bill 829 (SB 829), which requires a comprehensive study to assess the feasibility and cost of a state-operated reinsurance program aimed at stabilizing and reducing insurance premiums for property and liability insurance related to affordable housing in Oregon. Work Details The awarded contractor will conduct a comprehensive study that includes: - Evaluating the feasibility and cost of a state-operated reinsurance program to stabilize and reduce insurance premiums for property and liability insurance for affordable housing, homeowners, single family/multifamily/high density living dwellings, and other residences in Oregon. - Analyzing alternative insurance mechanisms such as claims capture systems and risk pooling. - Surveying existing insurance products in the admitted market, surplus lines, and the Oregon FAIR Plan Association. This includes a zip code-level analysis of coverage availability and affordability. The final report must be delivered to the Agency by December 15, 2026. Period of Performance The initial term of the contract is anticipated to be two years with an option to renew until December 31, 2028. Place of Performance The services will be performed within the State of Oregon. Bidder Requirements Proposers must demonstrate that assigned staff have at least five years of experience in reinsurance, catastrophe modeling, Property and Casualty marketplace conditions, effects of climate change, and public policy consulting. All staff performing actuarial work must hold relevant credentials such as ACAS or FCAS. Additionally, proposers must provide key persons with a minimum of ten years’ experience in relevant fields.