SW Washington Risk Management Insurance Cooperative (SWRMIC)
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Mission Statement
The Cooperative supports its member districts by providing stable, long-term protection from financial loss through high-quality, cost-effective risk management programs.
About Us
The Southwest Washington Risk Management Insurance Cooperative (Risk Cooperative) provides property and casualty insurance coverages for its membership. RCW 48.62.011, provides the exclusive source for authority for local governmental entities to individually or jointly self-insure risks, jointly purchase insurance or reinsurance, and to contract for risk management, claims, and administrative services. An agreement to form a pooling arrangement was made pursuant to the provisions of Chapter RCW 39.34, the Interlocal Cooperation Act.
The Risk Cooperative was formed September 1985 when school districts in the State of Washington joined together by signing an Interlocal Governmental Agreement to pool their losses by self-insuring and jointly by purchasing insurance and administrative services. Thirty school districts, the Educational Service District 112 and the KWRL Transportation Cooperative belong to the Cooperative and Washington Schools Information Processing Cooperative.
The Risk Cooperative is an Enterprise Fund established for the purpose of providing group self-funding, claims control and risk management for property/casualty liabilities to its membership. The coverage provided is on an "occurrence" basis. The Risk Cooperative provides the following forms of group purchased insurance coverage for its members: property, liability, vehicle, other mobile equipment, electronic data processing equipment, bonds of various types, excess liability, public official liability, and machinery breakdown.
The Risk Cooperative is fully funded by its member participants. Claims are filed by members with the Educational Service District 112, which is contracted to perform claims adjustment services for the Cooperative.
The Risk Cooperative is governed by a Board of Directors, which is comprised of one designated represented from each participating member, with delegated authority to a five member Executive Committee. The Executive Committee is responsible for conducting the business affairs of the Cooperative.