ACTION ITEM:

Approval of Assured Partners Insurance Financing Renewal

FACTS:

Assured Partners Insurance Brokers has been the University's insurance carrier since 2001. The current financing begins 8/01/2022. The renewal amount for FY 22-23 is quoted at $529,385.69.

BUDGETARY IMPLICATIONS:

The finance amount requires a 25% down payment of $132,346.42, and 10 monthly payments of $41,025.91 each, effective 7/01/2022. Annual percentage rate is 7.20. Funds for this expense have been budgeted.

RECOMMENDATION:

Interim President Ronald A. Johnson recommends that the Executive Committee of Kentucky State University Board of Regents approve the Assured Partners Insurance Brokers Insurance financing Renewal.

MOTION:

Approve Assured Partners Insurance Financing Renewal.

Finance and Administration