Present to the Board Memo 09 20 12 Life Insurance LTD and FMLA revised by 06jF4yg

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									Present to the Board: September 20, 2012



TO:          Daytona State College
             District Board of Trustees
FROM:        Carol W. Eaton
             President

RE:          Life and Voluntary Life Insurance (including AD&D), Long Term Disability
             and Family Medical Leave Act Administration


OVERVIEW:

In accordance with Board Policy 5.08 and Florida Statute 287.017 defining category for
Category Four ($195,000), this item is submitted for approval to enter into a contract for
the above-referenced employee benefits.


ANALYSIS:

A Request for Proposals #13-007 (RFP) was issued to solicit proposals for employee
benefits to include both basic and voluntary life insurance, including accidental death
and dismemberment coverage, long term disability and administration of the Family
Medical Leave Act.

The RFP was issued by the College’s insurance consultant, Brown and Brown
Insurance, Inc., and was distributed to their network of carriers and was also published
in DemandStar to increase awareness and promote competition.

The College received responses from 12 insurance carriers and compared the
proposals against the current company’s renewal options. After careful review,
analysis, discussion and interviews with the top ranked proposers, the evaluation
committee members scored each of the providers on their proposals. The rating criteria
included multi-year rate guarantees, premium costs, reporting, as well as the level of
coverage. The committee selected Dearborn National Life Insurance Company to
provide the employee benefits set forth above.
RECOMMENDATION:

I recommend that the District Board of Trustees approve the award of life insurance and
long term disability benefits along with FMLA administration to Dearborn National Life
Insurance Company and authorize the College to enter into contracts for these
services. Long-Term Disability will have a three (3) year rate guarantee. All other
coverages will have a five (5) year rate guarantee.



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