{"data":{"id":"us-wa/rcw-43.19.760","jurisdiction":"us-wa","citation":"RCW 43.19.760","heading":"Risk management—Principles.","body":"It is the policy of the state for the management of risks to which it is exposed to apply the following principles consistently in a state program of risk management:\n(1) To identify those liability and property risks which may have a significant economic impact on the state;\n(2) To evaluate risk in terms of the state's ability to fund potential loss rather than the ability of an individual agency to fund potential loss;\n(3) To eliminate or improve conditions and practices which contribute to loss whenever practical;\n(4) To assume risks to the maximum extent practical;\n(5) To provide flexibility within the state program to meet the unique requirements of any state agency for insurance coverage or service;\n(6) To purchase commercial insurance:\n(a) When the size and nature of the potential loss make it in the best interest of the state to purchase commercial insurance; or\n(b) When the fiduciary of encumbered property insists on commercial insurance; or\n(c) When the interest protected is not a state interest and an insurance company is desirable as an intermediary; or\n(d) When services provided by an insurance company are considered necessary; or\n(e) When services or coverages provided by an insurance company are cost-effective; or\n(f) When otherwise required by statute; and\n(7) To develop plans for the management and protection of the revenues and assets of the state.","path":["Title 43","Chapter 43.19"],"source_url":"https://app.leg.wa.gov/rcw/default.aspx?cite=43.19.760","current_through":"July 15, 2026","vintage":"","retrieved_at":"2026-09-06T02:47:30Z","sha256":"bca96e9b879b3e3a7cc0db073184f6e2f5479fe22390fdbb0b385e99e6b1618f","source_id":"us-wa","stale":false,"prev":"us-wa/rcw-43.19.757","next":"us-wa/rcw-43.19.763"},"notice":"GroundRules: Original legal text. Not legal advice."}