Agenda Item No._________

Washburn University Board of Regents







SUBJECT: Renewal of Insurance Policy





DESCRIPTION:



The renewal date for coverage on the KTWU broadcast equipment, the towers and the buildings at the tower sites was July 12, 2000. The 1999-2000 insurance carrier notified the University late in the policy year it would not renew the coverage for 2000-2001, but extended the 1999-2000 policy period to September, 2000 to allow time for replacement coverage to be found. Replacement coverage was found in August with the coverage period for the new policy being retroactive to July 12. In order to keep the policy in force payment of the premium was required before the September Board meeting date.





FINANCIAL IMPLICATIONS:



The 2000-2001 premium is $40,357 and there is sufficient funding in the KTWU insurance account, 01-40064. The 1999-2000 premium was $26,086.





RECOMMENDATION:



President Farley recommends ratification of the purchase of the policy from Topeka Insurors, LLC for $40,357.









_________________ ___________________________

Date Jerry B. Farley, President


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