Actuarial Services

The government authority located in Tukwila, Washington is seeking a qualified actuarial firm to provide comprehensive actuarial services. The agency needs to evaluate the adequacy of its current funding, project claim costs on prior years' claims for the upcoming fiscal year, and calculate funding rates at the executive board's requested funding confidence levels. The selected firm will also evaluate the ratio of liability self-insured retention to equity and analyze the cost and benefits of the liability and property reinsurance and excess program. The scope of work covers conducting four quarterly solvency reports, producing a rate-setting report as of the end of February, and delivering other actuarial services as requested. The selected firm must also calculate loss modification factors for each member in accordance with each member's own loss experience and provide a history of losses and experience modification factors for each member in March. Performance of the work can be conducted either onsite or offsite. Bidders must be onshore organizations based in the United States. To be eligible, bidders must provide a list of a minimum of five public entity clients, which must include at least one property and casualty self-insurance pool. The agency is looking for proposals to determine the budget and will award a contract for a period of three years. All questions regarding this opportunity must be submitted no later than June 16, 2026.