Broker Services.pdf

REINSURANCE AND INSURANCE SERVICES

REQUEST FOR PROPOSAL (RFP)

FOR

Washington Schools Risk Management Pool

RETURN PROPOSALS TO:

Dana Grandey, JD, ARM

Deputy Executive Director dgrandey@wsrmp.com

Washington Schools Risk Management Pool

6720 Fort Dent Way, Suite 215

Tukwila WA 98188

DEADLINE FOR FILING VIA EMAIL IS :

[June 24, 2025]

[5:00 PM]

REQUEST FOR PROPOSAL

REINSURANCE AND INSURANCE SERVICES

RFP #25-002

I. INTRODUCTION

Washington Schools Risk Management Pool (WSRMP) is seeking proposals from qualified firms (Firm) to provide reinsurance and insurance services including, but not limited to, property, casualty, cyber, masters’ builders risk, reinsurance strategy, reinsurance placement, general insurance placement, special coverage placement including flood and earthquake, analytics, risk management consultation, and training. The selected Firm will be engaged for a period of three (3) years with an option for two (2) additional single year terms, commencing September 1, 2025. This RFP is not an authorization to approach the insurance marketplace on behalf of WSRMP. Firms failing to comply with this condition will be disqualified. Qualified firms may submit proposals for all lines of coverage and services listed above or they may submit a proposal on a particular line(s) of coverage or services their firm specializes in.

WSRMP protects approximately eighty-nine (89) school districts and SWRMIC who has thirty-one (31) member school districts in the State of Washington. These districts are K-12 public school districts. The student population is more than 500,000 and the building and contents value exceeds 34 billion (over 3,000 structures) as well as over 7,000 autos and buses. We self-administer our own claims, provide risk control services, and underwrite. Our coverage agreement is specific to WSRMP and is a non-ISO form.

WSRMP reserves the right to reject all proposals, to waive any informality and to negotiate with the selected Firm prior to entering into any agreement. An accepted proposal becomes a contractual obligation of the Firm. Failure of the Firm to accept any of these obligations will result in the immediate cancellation of the agreement.

Proposals must be submitted in writing and received via email by 5:00 p.m., Tuesday, June 24, 2025.

Proposals received after the deadline will be disqualified.

Data and documentation included in the proposal become the property of WSRMP and will become public information upon opening the proposals.

II. MINIMUM QUALIFICATIONS

In order to be considered, Firms must meet the following qualifications:

1. Ten (10) years in business as a licensed broker/agency with qualified principals or account executives with a minimum of ten (10) years of experience placing reinsurance for public entity pools.

2. An account representative with a minimum of five (5) years of public entity risk pooling experience to handle the administrative insurance needs of WSRMP.

3. A proven track record in administering or servicing public entity risk pools. Annual premium volume in excess of $10,000,000 representing public entity pools.

4. Firm shall not directly represent any public school district in Washington State.

5. Firm must be bonded and carry appropriate commercial insurance coverage including $5,000,000 limits of professional errors and omissions insurance.

6. Firm account representative and support must operate out of a single location.

III. ANNUAL FEE

1. Firm shall provide a schedule indicating the broker’s fee for the Scope of Work for each year of the three (3) year period of the contract. Fees for any additional annual terms will be negotiated.

Identify all the services for which an additional charge would be made. WSRMP requires the Firm to provide all reinsurance and insurance placement premiums net of commission to WSRMP. The annual fee is the only compensation to be paid under the services agreement.

2. Firm may be compensated by commission for placement of any ancillary insurance for individual members of WSRMP. Firm will provide an annual statement of ancillary commissions derived from WSRMP members.

3. Firm will disclose all income derived as a direct result of the WSRMP account.

IV. SCOPE OF WORK – SERVICES REQUIRED

If selected, Firm will agree by written contract to provide the following services:

1. Firm will assist WSRMP in designing the most cost-effective risk-financing program for member property and liability exposures, including the review of retention levels and insurance limits.

2. Firm will report to WSRMP no later than April 1 of each year of Firm's best guesstimate of reinsurance renewal premiums for the next fiscal year beginning each September 1.

3. Firm will report to WSRMP no later than January 15 of each year an analysis of reinsurance market conditions and recommendations for renewal at the next fiscal year being September 1. Firm may be called to make a presentation to the WSRMP Board at each April Board meeting and June Board Meeting.

4. Firm shall prepare renewal specifications for review by WSRMP. Firm shall prepare a summary comparing last year's coverage with impending renewal proposals, identifying any differences.

5. Firm shall verify accuracy and adequacy of excess/reinsurance contracts, endorsements and invoices.

6. Firm shall assign a commercial insurance licensed representative to secure any ancillary insurance required by WSRMP members, including special events, underground storage tanks, National Flood Insurance, foreign travel liability, marine, builder's risk, and other miscellaneous insurance. Firm shall facilitate procuring fidelity, performance, notary and other statutory bonds.

7. Firm will assist WSRMP in identifying and evaluating existing and emerging exposures of risk.

8. Firm will partner with WSRMP claims staff as an advocate in presenting Pool claims to excess/reinsurance companies as requested. Firm will provide technical assistance, as requested, on WSRMP and member claims.

9. Firm shall maintain written records including records of marketing packages, policies, premiums, audits, loss data and any other pertinent information affecting coverage placed by the Firm.

10. WSRMP reserves the right to secure services from a reinsurance intermediary or to place reinsurance on a direct basis if the Firm is unable to facilitate adequate or necessary reinsurance placement.

11. Firm shall be available upon reasonable notice to meet with WSRMP's members, boards, committees and staff as necessary at Firm's expense, but not less than twice per year.

12. Firm will arrange annual in-person meetings with reinsurance underwriters to review reinsurance strategy and placement.

13. Firm will provide any other related services deemed appropriate by WSRMP.

V. SELECTION PROCESS

All proposals must be received via email by June 24, 2025. Unfortunately, late proposals will be rejected. Please forward all proposals and correspondence via email to:

Dana Grandey Deputy Executive Director Washington Schools Risk Management Pool Via email: dgrandey@wsrmp.com

RFP distribution……………………………………………………………. Week of June 2, 2025 Deadline for questions regarding the proposals……………. June 16, 2025 Deadline for receipt of proposals…………………………………. June 24, 2025 Finalist Interviews……………………………………………… …………July 9, 2025 (via Zoom) Finalist selection…………………………………………………………… August 15, 2025 Contract term starts……………………………………………………… September 1, 2025

VI. PROPOSAL FORMAT

Proposals shall include:

1. Resume of Primary Account Executive responsible for this account.

2. Names of public entity pools with number of years directly served by the Account Executive.

3. References (Name, phone and email address) from at least three (3) Public Entity Pools.

4. Names of any public-school districts in WA State directly handled by Firm and/or handled by another office of same parent firm.

5. Certificate of Insurance evidencing $5 million per occurrence errors & omissions coverage for the Firm.

6. One (1) page narrative describing how the Firm will administer the Scope of Work.

7. Fee for Scope of Work for a three (3) year term.

VII. NON-COMPETE CLAUSE

Firm must obtain prior approval from WSRMP before conducting business with any public school district or educational service district in Washington State outside of work performed through WSRMP and its members.

VIII. OTHER TERMS AND CONDITIONS

WSRMP reserves the right to change the RFP schedule, and/or recall or reissue the RFP. Prior to the execution of an agreement, WSRMP reserves the right to reject any or all proposals at any time, with no penalty, and without divulging the reasons for which the submittals were rejected or accepted.

Firms are responsible for all errors or omissions in their proposals, and any such error or omission will not serve to diminish their obligation to WSRMP.

The Firm must certify that all statements contained in the proposal submitted are accurate and valid.

The Firm’s proposal, insofar as it is not inconsistent herewith, will be incorporated into the final agreement by reference.

WSRMP cannot be responsible for any proprietary information contained in the firm’s proposal disclosed under the State Public Disclosure law.