Reinsurance and Insurance Services

The Washington Schools Risk Management Pool (WSRMP) is seeking proposals from qualified firms to provide comprehensive reinsurance and insurance services for approximately 89 school districts and SWRMIC with 31 member school districts in Washington State. The procurement covers a wide range of insurance and risk management services, including property, casualty, cyber, masters' builders risk, reinsurance strategy, placement, analytics, risk management consultation, and training. Proposing firms must have at least ten years of experience as a licensed broker, with principals possessing a minimum of ten years of experience placing reinsurance for public entity pools. The contract term will span three years, beginning September 1, 2025, with an option for two additional single-year extensions. Proposals are due via email by June 24, 2025, at 5:00 PM, with finalist interviews scheduled for July 9, 2025, and final selection anticipated by August 15, 2025. The selected firm must maintain $5 million in errors and omissions insurance and operate from a single location. The pool represents significant scale, protecting over 500,000 students, with building and contents valued at over $34 billion, covering more than 3,000 structures and 7,000 vehicles.

The procurement does not explicitly mention specific set-aside designations or restrictions for disadvantaged enterprises. The annual fee structure requires the firm to provide all reinsurance and insurance placement premiums net of commission, with the annual fee being the sole compensation under the services agreement. The firm may receive commissions for ancillary insurance for individual members but must fully disclose all income derived from the WSRMP account. While no specific budget range is detailed, the extensive coverage and multiple jurisdictions involved suggest a significant potential contract value. The opportunity appears open to qualified insurance brokerage firms with demonstrated expertise in public sector risk management and extensive experience in reinsurance placement. No incumbent vendors are specifically identified in the documentation, and there are no explicit requirements for integration with existing technology infrastructure beyond the firm's ability to provide comprehensive insurance and risk management services.