Created : March 02, 2014 at 06:21 PM
February 19, 2014
Status:
Open Agenda
Approve the Agreement between The School Board of Broward County, Florida and Arthur J. Gallagher Risk Management Services, Inc. for the placement of the District's Property and Casualty insurance policies.
Florida Statute Referencing Direct Negotiations:
School districts are required to carry property insurance on all school buildings (except buildings with three classrooms or less) and all school plants, including contents, boiler and machinery, pursuant to the provisions of section 1001.42(11) (d), Florida Statutes.
Florida Administrative Rule 6A-1.012(15) states, except as otherwise required by statute, a district school board, when purchasing insurance, entering risk management programs, or contracting with third party administrators, may make any such acquisitions through the competitive solicitation process or by direct negotiations and contract.
(See Supporting Documents for the continuation of Summary Explanation and Background. )
This Agreement has been reviewed and approved as to form and legal content by the Office of the General Counsel.
The financial impact of placing the District's property and casualty insurance policies for three years is estimated at $47 million. The source of funds for all casualty insurance premiums will be the General Fund.
Requested Action
Approve the Agreement between The School Board of Broward County, Florida and Arthur J. Gallagher Risk Management Services, Inc. for the placement of the District's Property and Casualty insurance policies.
Summary
Florida Statute Referencing Direct Negotiations:
School districts are required to carry property insurance on all school buildings (except buildings with three classrooms or less) and all school plants, including contents, boiler and machinery, pursuant to the provisions of section 1001.42(11) (d), Florida Statutes.
Florida Administrative Rule 6A-1.012(15) states, except as otherwise required by statute, a district school board, when purchasing insurance, entering risk management programs, or contracting with third party administrators, may make any such acquisitions through the competitive solicitation process or by direct negotiations and contract.
See Supporting Documents for the continuation of Summary Explanation and Background.)
This Agreement has been reviewed and approved as to form and legal content by the Office of the General Counsel.
School Board Goals
| Goal 2: Continuous Improvement |
Financial Impact
The financial impact of placing the District's property and casualty insurance policies for three years is estimated at $47 million. The source of funds for all casualty insurance premiums will be the General Fund.
Source of Additional Information
Jeffrey S. Moquin 754-321-2650 Aston A. Henry, Jr. 754-321-1900
Associated File Attachments
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Summary Explanation and Background (Files) | |
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Agreement (Files) | |
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Recommendation/Tabulation - RFI14-063P (Files) |