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Presentation Date: November 2015
Mike Meredith
Executive Vice President
Ana Cobar Chris Woertz
Placement Account Executive
Stop Loss Renewal and Marketing Analysis
Brevard Public Schools Effective: 01/01/2016
Disclaimer Enclosed is a Renewal Analysis of the renewal terms and conditions for your current renewal policies and/or service contracts.
We looked at a number of carrier(s)/vendor(s) for the coverages and/or services you require and are attaching a Marketing Analysis to assist you with reviewing your options based on these quotes
We believe that the terms and conditions of the attached Renewal / Marketing Analysis reflect the coverages and/or services that you directed us to obtain.
We will furnish you a copy of the original renewal/recommended quotes upon your request.
Please be advised that the renewal/quotes attached may differ from your current policy. We recommend that you read the renewal/quotes specifications from the carrier in their entirety and compare them to your current policy. We have highlighted certain key areas in the attached analysis. Also, please examine the renewal/proposals from the carrier(s) and make note of any expiration dates indicated.
We are not contractually obligated to provide quotes from only these carriers. The choice of carriers is based on our knowledge and experience of the market sector and your situation.
Proposals/the renewal are based on the information that you provided to us and have been relied upon by Willis and (re)insurer and/or service provider. If the information you provided is inaccurate or incomplete, it may allow (re)insurers and/or service providers to avoid liability on a particular claim or to void a policy entirely. Therefore, if you discover that previously submitted information is inaccurate or incomplete, please advise us immediately so that we can attempt to revalidate terms with (re)insurers and/or service providers.
All premium payment terms must be met on time or the insurance carriers and/or service providers will have the right to effect notice of cancellation for non-payment of premium. We will not be responsible for any consequences that may arise from any delay or failure by you to pay the amount payable by the indicated date.
The purpose of this communication is to summarize the proposal/renewal terms and the coverage available and should not be construed as providing any final commitment by the insurer or any confirmation of actual coverage. Please provide us with your specific written instructions of the coverage selection you make.
Please review this proposal and its attachments carefully and provide us with your specific written instructions of the coverage selection you make. If you have any questions or you feel the coverage recommended is not in accordance with your instructions, please contact us.
If you have questions or concerns regarding our compensation, please contact your Client Advocate or you may also call 1-866-704-5115.
In our search for your insurance coverage we have used the (Intermediary/ sub-broker) referenced in the summary of quotes which has provided the recommended quote(s). (Sub-broker) is an affiliate of the Willis group of companies. Any compensation it receives is included in the total compensation disclosed in the summary of quotes.
This proposal is presented in conjunction with the Standard Terms and Conditions for Human Capital Accounts which is enclosed.
4211 W Boy Scout Blvd. Suite 1000 Tampa, Florida 33607
(813) 281-2095
Disclaimer Page 2
Market Summary - Brevard Public Schools
Carrier Name Line of Business Response Compensation Additional Compensation Market Security
AIG - National Union Fire Ins.
Co. Stop Loss Declined, uncompetitive; + 2x
current NA None
AIG - Not Approved
National Union Fire Ins. Co. -
Approved
Arch Stop Loss Declined, uncompetitive; +65% NA None Approved
Guardian Stop Loss
Declined, uncompetitive; +2x
currentNA None Approved
HM Insurance Group Stop Loss Declined, uncompetitive; +60% NA 3% Approved
Munich Re _ American
Alternative Stop Loss Declined, uncompetitive; +45% NA 3% Approved
Optum Stop Loss
Declined, uncompetitive; 2.8x
currentNA 4%
Use Healthcare Organization
client instruction letter
Special Contingency Risks
Limited - Partner Re Stop Loss Declined, uncompetitive; + 47% NA None Willis approved entity
SymetraStop Loss Declined, uncompetitive; +40% NA 4% Approved
Voya Stop Loss Declined, uncompetitive; +69% NA 3% Approved
Carrier Name Line of Business Response Compensation Additional Compensation Market Security
Sun Life Stop Loss Renewal Net of commission None Approved
Additional Compensation contracts are continually under negotiation and may differ from what appears above at the time of the plan effective date.
Please note that the quotes from these above noted insurers were obtained through the Willis Panel Process: HM Life, Munich Re, Sun Life, Symetra and Voya.
We have listed for you the carrier(s)/vendor(s) that we sought and their responses, our compensation and Sub-Brokers (if any) in the following Summary Table:
We have listed for you the name of the carrier/vendor that submitted the renewal including our compensation and Sub-Brokers (if any) in the following Summary Table:
Market Summary Page 3
Brevard Public Schools
2016 Stop Loss Summary
Summary Stop Loss
Deductible Level $425,000Sun Life Sun Life Sun Life
CURRENT Initial Renewal FINAL Renewal
Stop Loss Premium $502,308 $608,843 $577,979
$ Premium Variance n/a $106,536 $75,671
% Premium Variance n/a 21.2% 15.1%
Aggregating Specific Liability $387,000 $387,000 $387,000
Annual Premium and Aggregating Specific Liability $889,308 $995,843 $964,979
$ Premium Variance n/a $106,536 $75,671
% Premium Variance n/a 12.0% 8.5%
Summary Stop Loss
Deductible Level $450,000Sun Life Sun Life Sun Life
CURRENT Initial Proposal FINAL Proposal
Stop Loss Premium $502,308 $554,578 $526,201
$ Premium Variance n/a $52,271 $23,894
% Premium Variance n/a 10.4% 4.8%
Aggregating Specific Liability $387,000 $387,000 $387,000
Annual Premium and Aggregating Specific Liability $889,308 $941,578 $913,201
$ Premium Variance n/a $52,271 $23,894
% Premium Variance n/a 5.9% 2.7%
Summary Stop Loss
Deductible Level $475,000Sun Life Sun Life Sun Life
CURRENT Initial Proposal FINAL Proposal
Stop Loss Premium $502,308 $506,190 $480,601
$ Premium Variance n/a $3,882 -$21,706
% Premium Variance n/a 0.8% -4.3%
Aggregating Specific Liability $387,000 $387,000 $387,000
Annual Premium and Aggregating Specific Liability $889,308 $893,190 $867,601
$ Premium Variance n/a $3,882 -$21,706
% Premium Variance n/a 0.4% -2.4%
Actual rates will be based on final underwriting/enrollment
This proposal is not to be construed as an exact or complete analysis of the policies nor as legal evidence of insurance.
The provisions of the actual policy will prevail.
THIS INFORMATION IS PROPRIETARY AND SHOULD NOT BE DISTRIBUTED.
Stop Loss Summary Page 4
Brevard Public Schools
2016 Stop Loss Marketing Analysis - $425,000
Sun Life Sun Life Sun Life
ENROLLED CURRENT Initial Renewal FINAL Renewal
Reinsurance Contract Provisions:
Maximum Reimbursement
ISL - Lifetime Unlimited Unlimited Unlimited
ISL - Annual Unlimited Unlimited Unlimited
Covered Benefits
ISL - Medical, Rx Medical, Rx Medical, Rx
ISL Contract
Deductible $425,000 $425,000 $425,000
Contract Type 12/18 12/18 12/18
Rates
Single 4,112 $3.73 $4.52 $4.29
Family 2,502 $10.60 $12.85 $12.20
Estimated Annual Premium $502,308 $608,843 $577,979
Annual Increase in Premium n/a $106,536 $75,671
% Change in Premium n/a 21.2% 15.1%
Aggregating Specific Liability $387,000 $387,000 $387,000
Estimated Annual Premium and Aggregating
Specific Liability$889,308 $995,843 $964,979
Annual Increase in Premium and Aggregating
Specific Liabilityn/a $106,536 $75,671
% Change n/a 12.0% 8.5%
Additional Provisions
Participation Maintain current Maintain current
Run-In Limit None None
Lasers TBD No
No New Lasers at Renewal Included Included
Contingencies Apply Yes Yes
Quote is Firm? No No
Notes
Renewal rate cap of
50% AND No New
Lasers at Renewal
Renewal rate cap of
50% AND No New
Lasers at Renewal
Actual rates will be based on final underwriting/enrollment
This proposal is not to be construed as an exact or complete analysis of the policies nor as legal evidence of insurance.
The provisions of the actual policy will prevail.
THIS INFORMATION IS PROPRIETARY AND SHOULD NOT BE DISTRIBUTED.
Deductible $425k Page 5
Brevard Public Schools
2016 Stop Loss Marketing Analysis - $450,000
Sun Life Sun Life Sun Life
ENROLLED CURRENT Initial Proposal FINAL Proposal
Reinsurance Contract Provisions:
Maximum Reimbursement
ISL - Lifetime Unlimited Unlimited Unlimited
ISL - Annual Unlimited Unlimited Unlimited
Covered Benefits
ISL - Medical, Rx Medical, Rx Medical, Rx
ISL Contract
Deductible $425,000 $450,000 $450,000
Contract Type 12/18 12/18 12/18
Rates
Single 4,112 $3.73 $4.12 $3.91
Family 2,502 $10.60 $11.70 $11.10
Estimated Annual Premium $502,308 $554,578 $526,201
Annual Increase in Premium n/a $52,271 $23,894
% Change in Premium n/a 10.4% 4.8%
Aggregating Specific Liability $387,000 $387,000 $387,000
Estimated Annual Premium and Aggregating
Specific Liability$889,308 $941,578 $913,201
Annual Increase in Premium and Aggregating
Specific Liabilityn/a $52,271 $23,894
% Change n/a 5.9% 2.7%
Additional Provisions
Participation Maintain current Maintain current
Run-In Limit None None
Lasers TBD No
No New Lasers at Renewal Included Included
Contingencies Apply Yes Yes
Quote is Firm? No No
Notes
Renewal rate cap of
50% AND No New
Lasers at Renewal
Renewal rate cap of
50% AND No New
Lasers at Renewal
Actual rates will be based on final underwriting/enrollment
This proposal is not to be construed as an exact or complete analysis of the policies nor as legal evidence of insurance.
The provisions of the actual policy will prevail.
THIS INFORMATION IS PROPRIETARY AND SHOULD NOT BE DISTRIBUTED.
Deductible $450k Page 6
Brevard Public Schools
2016 Stop Loss Marketing Analysis - $475,000
Sun Life Sun Life Sun Life
ENROLLED CURRENT Initial Proposal FINAL Proposal
Reinsurance Contract Provisions:
Maximum Reimbursement
ISL - Lifetime Unlimited Unlimited Unlimited
ISL - Annual Unlimited Unlimited Unlimited
Covered Benefits
ISL - Medical, Rx Medical, Rx Medical, Rx
ISL Contract
Deductible $425,000 $475,000 $475,000
Contract Type 12/18 12/18 12/18
Rates
Single 4,112 $3.73 $3.76 $3.57
Family 2,502 $10.60 $10.68 $10.14
Estimated Annual Premium$502,308 $506,190 $480,601
Annual Increase in Premium n/a $3,882 ($21,706)
% Change in Premium n/a 0.8% -4.3%
Aggregating Specific Liability $387,000 $387,000 $387,000
Estimated Annual Premium and Aggregating
Specific Liability$889,308 $893,190 $867,601
Annual Increase in Premium and Aggregating
Specific Liabilityn/a $3,882 ($21,706)
% Change n/a 0.4% -2.4%
Additional Provisions
Participation Maintain current Maintain current
Run-In Limit None None
Lasers TBD No
No New Lasers at Renewal Included Included
Contingencies Apply Yes Yes
Quote is Firm? No No
Notes
Renewal rate cap of
50% AND No New
Lasers at Renewal
Renewal rate cap of
50% AND No New
Lasers at Renewal
Actual rates will be based on final underwriting/enrollment
This proposal is not to be construed as an exact or complete analysis of the policies nor as legal evidence of insurance.
The provisions of the actual policy will prevail.
THIS INFORMATION IS PROPRIETARY AND SHOULD NOT BE DISTRIBUTED.
Deductible $475k Page 7