Online Risk Management
Schools Insurance Association of Washington (SIAW)
The Schools Insurance Association of Washington (SIAW) was formed in 1995 with seven founding school districts. The SIAW is a property and liability risk and insurance pooling program for school districts with enrollments in excess of 2,000 students. This program was designed to address larger school district issues and provide them with a viable insurance alternative. The SIAW currently insures nearly 50 school districts. A Board of Directors, elected by the membership, governs the program. The Board of Directors contracts with Clear Risk Solutions, a third party administrator instrumental in forming the program, to carry out the day-to-day administrative, claims and risk management services.
- Excess Insurance Coverage: The SIAW self-insures those losses that are manageable and predictable. Excess insurance coverage is purchased to protect the members against catastrophic claims.
- Aggregate Stop Loss Coverage: The SIAW purchases aggregate stop loss coverage to protect the pool assets against an abnormal frequency of claims in one year. This coverage minimizes the risk of any retroactive assessments if the liability losses exceed the amount budgeted and collected from the membership.
- Risk Management: The SIAW offers the broadest and most comprehensive range of risk management/loss control services in the industry. By reducing the number of claims through education of the membership, the overall insurance costs are reduced and remain stable for the membership year in and year out.
- Claims / Litigation Management: Through the SIAW's administrator, claims are adjusted and handled "in-house" rather than contracting out this vital service. Aggressive third party adjusting is balanced by the need to be aware of the individual political needs of the membership. Members are included in the overall plan and are vital to litigation settlement discussions. It is the philosophy of the program to find coverage for membership claims rather than search out exclusions to avoid paying claims.
- Broad Coverage / Competitive Cost: The SIAW provides the broadest and most comprehensive coverage available to school districts. However, controlling costs and providing stable rates throughout the unpredictable insurance cycles is paramount to the SIAW. The rates, along with coverages are the most competitive offered. The ultimate goal of the program is to reduce the losses through on-site education and through sound fiscal management, eliminating large insurance cost fluctuations.
Third Party Administrator
The SIAW contracts with Clear Risk Solutions for day-to-day administration of the program. In addition to the Schools Insurance Association of Washington, Clear Risk Solutions developed and serves as the program administrator for the Washington Rural Counties Insurance Program, the United Schools Insurance Program, the Cities Insurance Association of Washington, and the Non Profit Insurance Program. Clear Risk Solutions has over 20 years experience providing pool administration, claims and litigation management and risk management services.