CRER #C040370 Single Source Procurement: New York State Medical Indemnity Fund (MIF) Actuarial Services

The Department’s most recent contract with Pinnacle, T039685, encountered an increased scope of work due to a requirement in newly implemented testing scenarios. To allow for continuity of services per MIF Regulation 10 NYCRR § 69-10.19 and 10 NYCRR §69-10.20, this single source contract will provide the Department with the necessary funding and sufficient time to successfully execute a five-year contract resulting from a competitive Request for Proposals. This will also allow enough time to properly transition the current services over to the winning bidder without an interruption to the services currently being provided. Pinnacle has been providing actuarial services to the MIF since the Fund’s inception and the potential of a new vendor will require additional time to transition data and services.

Procurement / Program Name	New York State Medical Indemnity Fund (MIF) Actuarial Services Single Source Contract / The Division of Medical and Dental Directors (DMDD)
Contractor Name(s)	Pinnacle Actuarial Resources, Inc.
Contract Period	7/1/2024 – 12/31/2025 with an optional renewal that, if needed, will extend the contract term through 2/26/2027
Contract Number	C040370