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Contract Opportunity

INTENT TO SOLE SOURCE

Fitch Global Insurance Dataset – SS-OFR-24-079

The Bureau of the Fiscal Service (Fiscal Service) Division of Procurement Services, on behalf of the Office of Financial Research (OFR), intends to make award to Fitch Solutions, Inc. 33 Whitehall Street Floor 19 New York, New York 10004-2148, on a sole source basis, under authority of FAR 6.302-1, for the Fitch Global Insurance dataset.

OFR and FSOC Insurance analysts require the ability to analyze insurance risk across various sectors including life insurance, property casualty, reinsurance, health, mortgage insurers, and catastrophe bonds. They require Fitch Global insurance ratings and research to inform their analysis of these areas and evaluate issues that may impact the insurance market and threaten financial stability. Fitch Global Insurance database provides proprietary Fitch ratings analyses and access to their insurer financial strength, fixed income ratings including senior debt, subordinated debt, surplus notes, bank loans, and commercial paper.

In addition to the quantitative models described below, Fitch overlays their expert qualitative analyses to determine the ratings of insurance companies for U.S. and foreign entities. FSOC and OFR focus on the largest insurance and other nonbank financial institutions as they are most likely to pose threats to financial stability. These large financial institutions have large, global, diverse business models. The ability to aggregate information across jurisdictions and varying operating models and formulate an opinion of the creditworthiness of the consolidated entity is invaluable to OFR and FSOC. Quantitatively, Fitch uses a proprietary hybrid probability of default and rating model that includes their Equity Implied Rating (EIR) and Probability of Default (PD) Model for both financial and non-financial firms. The Equity PD model utilizes a structural framework, otherwise known as a barrier option model to quantify the likelihood that a firm will default based on the market value of assets (derived from market capitalization), historical equity price volatility, and debt. Fitch's EIR is then calculated by an econometric model combining a firm's PD with its fundamental financial data. The overall Equity Implied framework offers users the granularity of PDs while accurately reflecting fundamental ratings behavior. Only a subscription to Fitch will provide the OFR and FSOC their unique insights and ratings which are essential to assessing the vulnerabilities in the financial system.

NO SOLICITATION IS AVAILABLE. A request for more information, or a copy of the solicitation, will not be considered an affirmative response to this Special Notice. Telephone responses or inquiries to this Special Notice will NOT be accepted.

Fiscal Service will consider written responses received no later than 10:00 AM EST April 18, 2024. Responses must be submitted electronically to purchasing@fiscal.treasury.gov, Attn: CG/KDZ REF SS-OFR-24-079. Vendor responses must include sufficient evidence that clearly shows the proposed product is capable of meeting all of the characteristics of the services needed and described above. If no written response is received that clearly demonstrates an ability to meet all requirements and is received by the aforementioned deadline, Fiscal Service shall make award on a sole source basis to Fitch Solutions, Inc.

Qualified contractors must provide the following:

1. The name and location of your company, contact information, and identify your business size and socioeconomic category (Large Business, Small Business, Disadvantaged Business, 8(a), Service Disabled Veteran Owned Small Business, HubZone, etc.). Please ensure contact information includes the name of the point of contact, email address, and telephone number should the Government have questions regarding individual responses.

2. Whether your product is available through a Government contract vehicle or Open Market.

3. A brief capabilities statement (not to exceed 5 pages) that includes a description of your company's standard line of business, as well as a list of customers your company currently provides these products/services for.

4. UEI

The following file extensions are not allowable and application materials/data submitted with these extensions cannot be considered:

.bat, .cmd, .com, .exe, .pif, .rar, .scr, .vbs, .hta,, and .cpl files. Microsoft Office compatible documents are acceptable.

No other information regarding this Special Notice will be provided at this time.

This notice does not restrict the Government to an ultimate acquisition approach. All firms responding to this notice are advised that their response is not a request that will be considered for contract award. All interested parties will be required to respond to any resultant solicitation separately from their response to this notice, should one be issued.

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