Insurance Audit and Consulting Group
The Insurance Audit and Consulting Service provides insurance consulting to New York State public school districts, private schools and municipalities.
As an affiliated service of New York State School Boards Association (NYSSBA) and BOCES, this sponsored Insurance Audit and Consulting Service provides insurance consulting to New York State School Districts in evaluating their insurance needs and assisting them in securing the best coverage for the district at the best price. This service is also available to New York State colleges, private schools and municipalities.
Bryant Asset Protection employs a start-to-finish expert independent review process of the current Property and Casualty insurance policy coverage. We collaborate closely with leadership to provide an independent review of current coverage to identify areas of risks, leading to better protection and potential savings.
We start with a complete review of data – everything from school risk profile to current limits of insurance coverage. Then, we prepare and issue a comprehensive Request for Proposal (RFP) to solicit multiple quotes from qualified agents and carriers, independently review and score the quotes. Finally, we prepare a complete recommendation package tailored specifically for the district/school/municipality.
What does this process include?
- Complete review of adequacy of current coverage
- Review of school risk profile, loss run patterns and fixed asset inventory
- Review of staff and student data
- Compilation and review of all current building and grounds data, revalue as necessary
- Update district data with impact on coverage
- Meet with administration/officials to assess the risk exposures and discuss the insurance audit process
- Prepare and disseminate a Request for Proposal (RFP) and associated documents to potential providers
- Receive, review, evaluate and score quotes
- Prepare and deliver final report with recommendations
What are the benefits?
- Independent update of statistics and data affecting premium costs
- Independent review of current policy coverage levels
- Preparation of a comprehensive Request for Proposal (RFP) for your insurance quotes from multiple companies
- Professional evaluation of quotes and third-party scoring
- Potential for savings in premiums and broader coverage
What is the result?
- Periodic insurance examinations can help the board and leaders better understand the current coverages and identify areas of risk, leading to better protection.
- School may also realize significant financial savings and enhanced insurance coverage when subjecting their insurance program to rigorous review and a bidding process.
- This service will help your school comply with fiduciary responsibility to maintain the highest standards of fiscal management and responsibility regarding insurance.
•“Burnt Hills-Ballston Lake used the services of Bryant Asset Protection during the 2015-2016 school year to assist us with the RFP process for our 2016-2017 insurance policies. Jeff and his staff were very professional and guided us through the whole process. The end result was a significantly better price for our insurance policies and better coverage for the district. I would highly recommend this service to any interested school districts that are considering a RFP for their insurance policies.” ~ Chris Abdoo, Burnt Hills-Ballston Lake CSD
"Jeff Bryant provides a comprehensive service and client-friendly approach in reviewing an organization’s insurance coverage, potential risk areas, and pricing. We found his work to be thorough and his recommendations to be sound. I highly recommend Mr. Bryant." ~Bill Hogan, City School District of Albany
"The process of managing risk assessment and insurance coverage for a school district can be a daunting task. To be able to have an expert in the insurance field not only obtain multiple proposals, but to also review the levels and types of insurance currently maintained gives peace of mind. I was able to ask a myriad of questions. After the RFP process was complete, I felt we had arrived at a comfortable place and feel confident moving forward with the vendor award." ~Laura Newman, Commack UFSD
"Jeff Bryant and the team at Bryant Asset Protection did a great job in conducting an RFP for both Onondaga Community College’s property insurance as well as worker’s compensation insurance and produced a very thorough report containing their analysis & recommendations. We ended up retaining our incumbent carrier for the property coverage but realized an annual savings of over 19% (approximately $85,000) as a result of this process. We also realized significant savings on the worker’s compensation coverage by switching to another carrier. I would highly recommend Jeff and his team to anyone that is looking to ensure they have the most competitive pricing available for their insurance coverage’s." ~Mark M., CFO, Onondoga Community College
I want to express my sincerest thanks and gratitude for the attention your company provided during our school insurance audit. While initially reticent to engage in such a process (we were very happy with our coverage), your willingness to join us for numerous, personalized visits to thoroughly explain the insurance audit process, ability to work in tandem with our business office to obtain information in a non-obtrusive manner, and most importantly, your honest, detailed report made the investment completely worthwhile.
While we ultimately remained with our original carrier, your examination of our policy resulted in significant realignments of our deductibles to reflect our current level of risk, and actually resulted in adding additional coverage to reflect our changes in technology infrastructure. It should also be noted that we benefited from an overall savings that made the audit an entirely valuable experience (economically and security-wise).
Once again, thank you so much for your services. I would have no hesitate to do business with Bryant Asset Protection in the future.”
~ Thomas Reardon, Wynantskill UFSD
DISCLOSURE/DISCLAIMER: Bryant Asset Protection is an insurance agency and as such may have a business relationship with potential bidders on acquisitions. However, Bryant Asset Protection does not have school districts as clients. The review and analysis of bids are performed as a separate function in the agency in the best interests of the issuer of the RFP. No outside relationships are considered in the formulation of Bryant Asset’s nonbinding recommendations to school districts.