| | | | | | | | 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
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| | | | | | | | 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:
| | | With:
Conner, Strong & Buckelew Companies, Inc.
| | | Purpose:
To reimburse the District's insurance broker of record for the purchase of various casualty and bond premiums
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| | | | | | | | | | Start date: 7/1/2023
| | | End date: 6/30/2024
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| | | | | | | | | | Compensation not to exceed: $5,033,000
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| | | | | | | | | | Location:
Administrative Office(s)
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| | | | | | | | | | Number of Options: 1
| | | Duration of each option to extend: Years: Months:
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| | | | | | | | | | Maximum compensation authorized per option period: 5,033,000
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| | | | | | | | | | Description:
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.
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| | | | | | | | | | Funding Source(s):
FY23-24 General Fund |
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| | | | | | | | | | Office Originating Request: Finance
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