Action Item - 16.
Title: Contract with Conner Strong & Buckelew Companies Inc. - Casualty and Property Insurance ($5,033,000)
Board of Education Meeting Date: 5/25/2023
|Action under consideration|
| ||The Administration recommends that the Board of Education authorize The School District of Philadelphia, through the Superintendent or his designee, to execute and perform a contract, subject to funding, as follows: |
Conner, Strong & Buckelew Companies, Inc.
| ||Purpose: |
To reimburse the District's insurance broker of record for the purchase of various casualty and bond premiums
| ||Start date: 7/1/2023|
| ||End date: 6/30/2024|
| ||Compensation not to exceed: $5,033,000 |
| ||Location: |
| ||Number of Options: 1|
| ||Duration of each option to extend: Years: Months: |
| ||Maximum compensation authorized per option period: 5,033,000|
Although the School District of Philadelphia (District) has certain protections under the Commonwealth's governmental immunity laws, it still requires a suite of casualty and property insurance products to address many of the exposures presented by its activities. Pursuant to their brokerage/consulting agreement, Conner Strong pays for the various insurance coverages on behalf of the District and the District reimburses the expenses. The various coverages include: Property (including equipment breakdown); Excess Property, Excess Workers Compensation and Employers Liability; Crime; Sports
Accident; Student Participant; Voluntary Student Accident; Foreign Package; Student Professional Liability; and Public Official Bonds. They may place additional supplemental coverage as needed during the school year.
| ||Funding Source(s): |
FY23-24 General Fund
| ||Office Originating Request: Finance|