Agenda Item
iii. RFP 22-490 Renewal of the District’s Insurance Producer Services for Property and Casualty Insurance (EPIC) Renewal year 2 of 4 (not to exceed $150,000)
Summary: Presented by: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance
Request: It is requested that the Board of Education approve the renewal of the Insurance Producer Services for Property and Casualty Insurance Agreement with Edgewood Partners Insurance Center d/b/a EPIC Insurance Brokers and Consultants (“Epic”) for an annual fee not to exceed $150,000.
Why: Each year, the DeKalb County School District (“District”) purchases various insurance policies. The District’s insurance broker assists with the purchase of these policies. The areas of insurance include, but are not limited to, excess workers’ compensation, property, fine arts, government crime, student blanket professional liability, leased warehouses, and leased parking lots. These insurance policies protect the District against economic loss and fall into three major categories: 1) premium for property insurance; 2) insurance premiums under $100,000; and 3) insurance premiums over $100,000.
The Board approved the insurance specifications for the District’s property and casualty insurance needs in June of 2016. Since 2017, the District has engaged the services of an insurance broker to provide consultation services regarding complex insurance matters. The benefits of an insurance broker include the discussion of possible risks facing the District, the impact of those risks on the District’s resources, and implementation of various control measures to minimize damages. Epic served as the District’s insurance broker from March of 2017 until June of 2022. The District’s prior agreement with Epic ended on June 12, 2022.
Details: In March of 2017, the Board approved Epic as the District’s sole insurance producer through the RFQ process. From March of 2017, until June of 2022, Epic provided good insurance producer and consulting services to the District’s Risk Management Department. From June of 2022, until August of 2022, the District utilized the services of another insurance producer. However, at its business meeting on August 10, 2022, the DeKalb County Board of Education (“Board”) approved an Insurance Producer Services for Property and Casualty Insurance Agreement with Epic, for an annual fee not to exceed $150,000.00. This agreement was pursuant to RFP 22-490, entitled Insurance Producer Services for Property and Casualty Insurance. A renewal of the Epic contract is recommended by the District’s Risk Management Department. Epic is a qualified insurance broker dedicated to servicing all the District’s insurance needs. This includes, but is not limited to, helping with the District’s annual insurance renewal procedures for its insurance policies as well as providing guidance when losses occur, and when claims must be filed.
Financial impact: This is a budgeted expense within the Risk Management budget. The cost code is 100.2600.552000.00011.7490.9990.8010.050.0000 and the amount of the expense is $150,000.00.
Contact: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance, 678.676.0278
Mr. Glinton R. Darien, Jr., Director of Risk Management, Division of Finance, 678.676.0403
Status: Approved by General Counsel