INSURANCE BIDDING
· We belong to both a property/casulty/liability insurance and workers' compensation cooperative entitled Collective Liability Insurance Cooperative. We are one of over one hundred districts in the Chicago metro area that belongs to this cooperative. Our district joined this cooperative July 1, 2007. It saved us a substantial amount of money especially for workers' compensation. Prior to that we used independent agents and carriers. We review are insurance every two years and seek requests for proposals, if necessary. I believe insurance falls under the professional services exemption within the bid law.
· We are members of a school insurance cooperative so we are not obligated to bid. The cooperative markets the insurance coverage every year. Our cost in nearly $200,000 a year. I hope this helps.
· Our School Board approved a human resource firm to do our bidding on liability, health … insurance. (Bushue Human Resources) I cannot begin to tell you how important they have been to me and the amount of money they have saved the district. The money we saved in liability insurance this year paid their fees. Bushue also does our risk management, will do our 403b plan, state unemployment filing … Several districts in our area have hired them.
· We go every other year.
· Our district uses a three-year cycle.
· We get a new quote each year and our policy is around 30k. We have not historically put it out to bid and have only worked with one agent. According to Brian Braun’s Law Survey book, it looked to me like this is something that should be bid out.
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