Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Insurance Procurement topic
No spam. Unsubscribe anytime.
Board approves keeping main insurance with Tennessee Risk Management Trust, moves student accident coverage to Wellfleet
Summary
After a presentation by Arthur J. Gallagher, the board voted 7–0 to retain the primary insurance package with the Tennessee Risk Management Trust and transfer student and athletic accident coverage to Wellfleet; staff confirmed BMI would handle claims adjudication at no extra cost.
The Bradley County Board of Education approved a split insurance strategy recommended by broker Arthur J. Gallagher: retain the district’s main commercial insurance package with the Tennessee Risk Management Trust and move student and athletic accident coverage to Wellfleet.
Quay Stallworth, a broker with Arthur J. Gallagher, told the board his team solicited bids from more than 50 markets and compared a Liberty Mutual‑led commercial alternative to the Trust. He said the primary differences were retention levels: the commercial market produced higher retentions (for example, a $2,500 auto retention versus $500 under the Trust) and Liberty Mutual’s lead program showed lower premium totals but higher retentions. Stallworth said a third‑party administrator (BMI) was included to adjudicate claims and that the TPA service was built into the quoted premium.
Staff told the board they had confirmed the BMI arrangement with district medical partners and that the vendor used a claims adjudication model similar to that used by Lee University. After questions and staff confirmation that the proposal would not increase the overall quoted premiums for the main package, the board moved to approve “option 2” — renewing the main package with the Tennessee Risk Management Trust and moving student accident coverage to Wellfleet. The motion passed on a roll call vote, 7–0.
Stallworth summarized the recommendation: “We are recommending the Wellfleet Student Accident Program and then a renewal with the Tennessee Risk Management Trust,” and he noted the student accident premium in the example was $148,000. The board asked staff to continue oversight of claims handling and vendor performance as the new arrangements are implemented.
