Office of the Superintendent of Schools
Office of Finance and Operations
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Approval Of The Purchase Of Property Insurance From Various Insurers And Authority To Negotiate And Execute The Purchase Of $250 Million Of Property Insurance Coverage
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The Houston Independent School District (HISD) carries a portfolio of all risk property insurance policies based on a manuscript form to protect HISD's schools, support service facilities, and contents valued at approximately $7.52 billion spread over an area of more than 333 square miles within Houston. The current portfolio of policies includes limits of $250 million per occurrence, with separate sublimits for named storm, wind, flood, and earthquake. The 2026-2027 deductibles are $2,500,000 per occurrence for wind, hail, and/or flood losses due to a named storm; and $500,000 per occurrence for losses due to wind, hail, flood, and earthquake.
In May 2021, a request for proposals for property insurance brokerage services was issued. In August 2021, the HISD Board of Education approved the award of the services contract to Alliant Insurance Services, Inc., which has a historically underutilized business (HUB) participation of 25 percent.
Alliant Insurance Services, Inc., is negotiating the policies at an annual cost not to exceed $22,600,000. There may be minor changes in the positioning and pricing of some of the insurance carriers within the various layers, as negotiations continue.
COST/FUNDING SOURCE(S):
The total cost for this program is not to exceed $22,600,000 and will be funded as follows:
Fund Source
Fund
Cost Center
Functional Area
General Ledger
Internal Order/ Work Breakdown Structure
Amount
General Funds
1999000001
1090800003
PS51990000000000
6429020000
N/A
$21,637,217.40
Nutrition Services
2400010000
1040830000
PS35990000000000
6429020000
N/A
$962,782.60
STAFFING IMPLICATIONS:
None
THIS ITEM DOES NOT ESTABLISH, MODIFY, OR DELETE BOARD POLICY.
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