Specifications include, but are not limited to: As assigned and under the direction of the Department, the Vendor shall provide services related to: • Annual and Quarterly Supervisory Reviews of the thirty four (34) West Virginia insurance company financial statements and other filings in order to determine compliance with the State’s laws and regulations in support of the Department’s financial solvency monitoring of licensed insurers for the protection of policyholders. Supervisory financial analysis reviews, training and mentoring will cover the 2023 annual analyses of West Virginia domestic companies, related filings, followed by 2024 quarterly analysis reviews and other filings and staff training and mentoring. • Supervisory reviews on the thirty four (34) West Virginia domestic insurance companies is to be completed using the risk-focused financial analysis framework. The use of the nine branded risk classifications as the basis for risk-focused analysis aligns with the current financial examination process and improves intra- and inter-state communication of risk assessments and solvency monitoring of insurers. The intent of the risk-focused surveillance process is to broaden and enhance the identification of risk inherent in an insurer’s operations and use that evaluation in formulating the ongoing surveillance of the insurer. A risk-focused surveillance process includes identifying significant risks, assessing and analyzing those risks, documenting the results of the analysis, and developing recommendations for how the analysis can be applied to the ongoing monitoring of the insurer.