Ohio University Board of Trustees Meeting Agenda Packet October 2024
IUC-RMIC Insurance Pool Renewed for FY25
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Description
Ohio University continues its collaborative insurance purchasing through the IUC-RMIC consortium for FY25. Total premiums for property and casualty insurance are set at $4,238,235, with increased risk retention and structural changes to the casualty program.
Contract Details
Contract Amount
$2,065,104 for property, $2,173,131 for casualty (FY25 totals $4,238,235)
Vendor
INTER-UNIVERSITY COUNCIL RISK MANAGEMENT & INSURANCE CONSORTIUM
Agency
Ohio University-Eastern Campus, OH
Contract Type
INSURANCE
Document Date
October 17, 2024
Contract Term
FY25
Renewal Date
2025-06-30
Renewal Info
Annual renewal; subject to consortium board approvals and market cycles. Recent changes include higher risk retentions and layering modifications.
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