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The Florida International University Master Builders Risk Program Overview May 7-8, 2012

The Florida International University Master Builders Risk Program Overview May 7-8, 2012. Purpose. The SUS Planners meeting is the venue to “share best practices” and “lessons learned”. FIU has achieved significant cost savings by using the Master Builders Risk Program on a case-by-case basis.

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The Florida International University Master Builders Risk Program Overview May 7-8, 2012

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  1. The Florida International UniversityMaster Builders Risk Program Overview May 7-8, 2012

  2. Purpose • The SUS Planners meeting is the venue to “share best practices” and “lessons learned”. • FIU has achieved significant cost savings by using the Master Builders Risk Program on a case-by-case basis. • FIU has tested the simple process and used the information for comparison shopping and benchmarking.

  3. Program Overview • Program developed for the BOG Shared Services Initiative. • FAU led SUS with ITN. • All universities are allowed to “piggy-back” in the program without a formal bid. • No minimum premium or purchasing commitments. • Coverage provided by Travelers and Lexington. • Universities are eligible for FEMA reimbursements. • Named windstorm limit is $20M (normally $10M). • Broker coordinates claim process. • New construction and renovation projects eligible.

  4. Recent FIU projects / savings

  5. FIU latest project example

  6. FIU benefits • Increased options for decision making. • Realized savings up to 57%. • FIU has saved $402K in the last five construction projects. • Added value in service and $ to projects. • Higher coverage for less cost. • “Upper hand” for negotiating with CMs. • Five out of eleven SUS Universities have used the program in some capacity (FAU, UF, UNF, UCF, and FIU).

  7. Questions / comments ?

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