Reinsurance and Insurance Services

The Washington Schools Risk Management Pool (WSRMP) is soliciting proposals from experienced firms to provide comprehensive reinsurance and insurance services for its network of school districts in Washington State. Serving 89 school districts and the SWRMIC consortium covering an additional 31 districts, WSRMP safeguards over 500,000 students and $34 billion in assets, including thousands of buildings and vehicles. The contract aims to ensure robust risk management and insurance solutions for these educational entities, covering a broad array of exposures such as property, liability, cyber, builder’s risk, flood, and earthquake. Under the agreement, the selected firm will be responsible for developing effective risk-financing strategies, providing annual analysis and recommendations concerning reinsurance renewals, preparing comparative coverage summaries, verifying contract documentation, and advocating on behalf of WSRMP when handling claims. The firm must also actively assist in risk identification, arrange regular meetings with both WSRMP members and reinsurance underwriters, and maintain comprehensive records. The initial term begins September 1, 2025, lasting three years with options for up to two additional one-year extensions. Eligible applicants must demonstrate at least ten years’ relevant experience, possess qualified personnel in public risk pooling, and maintain significant professional liability insurance while remaining independent from direct representation of Washington State public school districts. The expected contract value ranges between $50 million and $150 million.