INSURANCEAMENDED

Nassau Community College Finance and Capital Committee Meeting Minutes October 2024

Insurance Agreement Amendment Approved for Marshall and Sterling Upstate

$382,000 for year 3; $355,000 for year 4; $375,000 for year 5Nassau Community CollegeMARSHALL & STERLING UPSTATE INCOctober 8, 2024

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Description

The Finance and Capital Committee approved an amended procurement agreement with Marshall and Sterling Upstate, Inc. for insurance services, with annual payments of $382,000 for year 3, $355,000 for year 4, and $375,000 for year 5. This amendment reflects a 30% increase over five years and will be recommended to the full Board of Trustees.

Contract Details

Contract Amount

$382,000 for year 3; $355,000 for year 4; $375,000 for year 5

Vendor

MARSHALL & STERLING UPSTATE INC

Agency

Nassau Community College, NY

Contract Type

INSURANCE

Document Date

October 8, 2024

Contract Term

Year 3: $382,000, Year 4: $355,000, Year 5: $375,000 (total term not exactly specified, appears to be at least 5 years)

Renewal Date

2027-06-30

Renewal Info

This is an amendment for years 3-5 of the agreement, reflecting a 30% total increase across 5 years (approx. 6% a year).

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