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Meeting Date:
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6/21/2023 - 5:30 PM
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Category:
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SCHOOL FACILITIES MANAGEMENT
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Type:
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Action
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Subject:
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19.16 Award Educators’ Management & Employment Liability Insurance to Greenwich Insurance Co. for $100,460.00
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District Goals:
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Enclosure
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File Attachment:
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Rationale:
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This is to award the PO for the Annual School Educators’ Management & Employment Practices Liability Insurance (E&O) Coverage for 2023-2024 to Greenwich Insurance Co. for $100,460.00. The term is from July 1, 2023 to June 30, 2024.
Greenwich Insurance Company (a member of AXA XL Group of Companies) is the incumbent provider. The new premium is roughly 6.80% higher than last year which was $94,062.00.
As a premium reference point, Greenwich started writing this policy in 2017 at an annual premium of $106,087; in 2018 premium was $86,280, 2019 premium was $75,485, 2020 was $78,884, 2021 was $89,608 and 2022 was $94,062. This represents a 5.3% decrease in the premium since Greenwich took over this account in 2017.
Proposals were solicited and analyzed by the District’s broker Nausch, Hogan and Murray, Inc.
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Funding:
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450.5303.100000.1910. B2310 General Fund-Insurance
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Resolution:
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Ladies and Gentlemen:
WHEREAS: The Administration wishes to award the District’s School Leaders’ Educators Management and Employment Practices Liability Insurance Coverage for the fiscal year 2023-24, and
WHEREAS: the proposals were obtained and analyzed by the Board’s insurance broker, Nausch, Hogan and Murray, and
WHEREAS: Greenwich Insurance Company submitted a proposal which meets the District’s specifications and requirements.
NOW THEREFORE BE IT RESOLVED: that the District’s School Leaders’ Educators Management and Employment Practices Liability Insurance Coverage be awarded as follows:
Greenwich Insurance Company
Seaview House, 70 Seaview Ave.
Stamford Conn. 06902
Total $100,460.00
Term of 365 calendar days.
AND BE IT FURTHER RESOLVED: that the Board of Education hereby authorizes the Superintendent of Schools to purchase District’s School Leaders’ Educators Management and Employment Practices Liability Insurance Coverage from the above mentioned firm through our insurance broker, Nausch, Hogan and Murray, Inc.
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Approvals:
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Recommended By:
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Signed By:
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John Carr - Executive Director
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Signed By:
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Tom Collich - Purchasing Director
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Signed By:
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Finance Department - Finance Reviewer
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Signed By:
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Elizabeth Janocha - Deputy Commissioner
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Signed By:
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John Liszewski - Commissioner
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Signed By:
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Matthew Gallagher - Corporation Counsel
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Signed By:
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Dr. Edwin M. Quezada - Superintendent of Schools
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Vote Results:
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| Original Motion | Member Kevin Cacace Moved, Member Rosemarie Linton seconded to approve the Original motion 'Ladies and Gentlemen:
WHEREAS: The Administration wishes to award the District’s School Leaders’ Educators Management and Employment Practices Liability Insurance Coverage for the fiscal year 2023-24, and
WHEREAS: the proposals were obtained and analyzed by the Board’s insurance broker, Nausch, Hogan and Murray, and
WHEREAS: Greenwich Insurance Company submitted a proposal which meets the District’s specifications and requirements.
NOW THEREFORE BE IT RESOLVED: that the District’s School Leaders’ Educators Management and Employment Practices Liability Insurance Coverage be awarded as follows:
Greenwich Insurance Company
Seaview House, 70 Seaview Ave.
Stamford Conn. 06902
Total $100,460.00
Term of 365 calendar days.
AND BE IT FURTHER RESOLVED: that the Board of Education hereby authorizes the Superintendent of Schools to purchase District’s School Leaders’ Educators Management and Employment Practices Liability Insurance Coverage from the above mentioned firm through our insurance broker, Nausch, Hogan and Murray, Inc.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Dr. Rosalba Corrado Del Vecchio | Yes | | Kevin Cacace | Yes | | Rev. Steve Lopez | Yes | | Dr. John Castanaro | Yes | | Rosemarie Linton | Yes | | Gail Burns | Yes | | Lawrence Sykes | Yes | |
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