The selected bidder must successfully complete the following, as directed by the DIA with input from EOLWD Internal Audit Department, compliance reviews including but not limited to: Execute conflict of interest review and approval process for all staff who will be involved in the project Request preliminary initial testing documents from identified insurers: DIA Form 50 quarterly (a quarterly notice of assessment to insurers) Corresponding back-up quarterly policy listings Payment evidence Perform the following tasks over the course of the compliance review: Scope period determined by DIA and EOLWD Internal Audit based on insurer’s last assigned review period Sample selection criteria approved by DIA with input from EOLWD Internal Audit. At a minimum, sample criteria shall include representation from all tested quarters and removal of duplicates for multiple transactions from the same policy. DIA assessment rate used for the policy period Policy documents against filings during the scope period, by comparing: Quarterly Form 50 invoice to corresponding back-up policy calculations, submitted by insurers, demonstrating how the insurer calculated the DIA assessment for that quarter Failure to pay an assessment within thirty days of the insurer’s receipt of a bill from DIA may result in a separate fine of $250 or 5% of the balance of the overdue assessment, whichever is greater on outstanding balances not received by the due date. The DIA will determine if a separate fine is owed.
