Every approved joint self-insurance program operating within the requirements of chapter 48.190 RCW shall use a formal competitive solicitation process in the selection of consultants which complies with the laws of this state and the requirements of other states in which it operates. The process shall provide an equal and open opportunity to qualified parties and shall culminate in a selection based on preestablished criteria which may include such factors as the consultant's fees or costs, ability, capacity, experience, reputation, responsiveness to time limitations, responsiveness to solicitation requirements, quality of previous performance, and compliance with statutes and rules relating to contracts. Bid responses, solicitation documents, and evidence of publication shall be retained in accordance with laws governing public records and shall be available for review by the state risk manager.