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Added HVAC Coverage Encourages CCSD School Board To Renew $110,000 Equipment Breakdown Insurance Policy

The Carroll Community School District (CCSD) Board of Education has voted to continue with a $110,000 equipment breakdown insurance policy that they had been unsure about renewing. For the past two years, the district had been protecting its machinery, refrigerators and other similar items through Wisconsin-based Specialty Underwriters, LLC (SU). Their existing policy with the schools expired recently, and Business Manager, Gary Bengtson, presented a renewal proposal.

The board also received a similar proposal from Remi Group, but it was nearly $20,000 higher at just over $130,000. Bengtson indicated he was on the fence on renewing until he saw the new policy was going to cover HVAC. He told the board those types of repairs take up a surprisingly large amount of the budget.

After reviewing the proposals, the board asked Bengtson which company seemed to be the best deal.

Bengtson noted that their utilization percentage would have been much larger if last year’s policy had included HVAC. Considering that the two policies provided similar coverage, and SU’s bid came in substantially lower than Remi Group’s, the board voted unanimously to enter into a one-year contract with SU. If the added HVAC coverage proves to be beneficial, they indicated they would consider approving a longer-term agreement that would have the policy run during the fiscal year, which begins on July 1 and concludes on June 30, rather than on a calendar year basis.

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