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.
"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
"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
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.