Actuarial Services

The government authority located in Tukwila, Washington is seeking a qualified actuarial firm to provide comprehensive actuarial services. The agency requires these services to evaluate funding adequacy, 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 costs and benefits of the liability and property reinsurance and excess program. The scope of work covers the delivery of four quarterly solvency reports and a rate-setting report as of the end of February. The agency also requires a history of losses and experience modification factors for each member in March, alongside loss modification factor calculations in accordance with each member's own loss experience. Other actuarial services may be requested throughout the contract period, which will run for three years. Bidders must be onshore organizations based in the United States. To demonstrate eligibility, bidders must provide a list of a minimum of five public entity clients, including at least one property and casualty self-insurance pool. The performance of the work can be conducted either onsite or offsite. The agency is looking for proposals to determine the budget for this project. All questions regarding this opportunity must be submitted no later than June 16, 2026.