Provision of actuarial services

⁠⁠⁠The Queensland Building and Construction Commission is issuing this Invitation to Offer with the objective of entering into a Standing Offer Arrangement contract with a supplier of actuarial services. The actuarial services will be for the management and a dedicated program actuary for the Queensland Home Warranty Scheme (Scheme Actuary). The suppliers experience in home warranty insurance is required to assist the QBCC in meeting its obligations and goals through the provision of professional actuarial services including:

• Independent and impartial advice on the performance of the Queensland Home Warranty Scheme and the financial condition of the QBCC;
• Pricing premiums annually to ensure actuarial sustainability;
• Active involvement in reinsurance discussions with QBCC, its reinsurance broker and reinsurers;
• Advice to assist the QBC Board and senior management in carrying out their responsibility of managing the Queensland Home Warranty Scheme in accordance with actuarially sustainable principles; and
• Advice on the insurance liabilities of the QBCC for financial reporting purposes.