Common use of Change of Insurance Carriers Clause in Contracts

Change of Insurance Carriers. The Board of Education shall have the right to change insurance carriers and/or to self-insure in whole or in part in order to provide the insurance coverages set forth above, provided that there shall be no reduction or diminution in the above coverage and no increase in expense to any bargaining unit members, and provided further that coverages which result from change in carriers and/or self-insurance are substantially equivalent to or better than coverages described above, in terms of coverage, benefits and administration. The substantially equivalent to or better than standard shall be applied on a program- wide basis, including network, and shall not be benefit specific. The president of the Association shall be notified in writing within thirty (30) days of any intention to change carriers and/or to self-insure and shall have a reasonable opportunity to review the proposed changes. Should the Association and the Board disagree that the changes proposed will provide coverages at least equal to the coverages, benefits and administration described above at no additional cost to staff members, the disagreements shall be subject to impartial arbitration as set forth in Article III of this Agreement, preferably before an arbitrator with experience and expertise in insurance matters. Should the Association elect, such arbitration shall be expedited under the rules of the American Arbitration Association for expedited arbitration, and no change shall be made until the arbitrator has rendered his/her Award.

Change of Insurance Carriers. The Board of Education shall have the right to change insurance carriers and/or to self-insure in whole or in part in order to provide the insurance coverages set forth above, provided that there shall be no reduction or diminution in the above coverage and no increase in expense to any bargaining unit members, and provided further that coverages which result from change in carriers and/or self-insurance are substantially equivalent to or better than coverages described above, in terms of coverage, benefits and administration. The substantially equivalent to or better than standard shall be applied on a program- program-wide basis, including network, and shall not be benefit specific. The president of the Association shall be notified in writing within thirty (30) days of any intention to change carriers and/or to self-insure and shall have a reasonable opportunity to review the proposed changes. Should the Association and the Board disagree that the changes proposed will provide coverages at least equal to the coverages, benefits and administration described above at no additional cost to staff members, the disagreements shall be subject to impartial arbitration as set forth in Article III of this Agreement, preferably before an arbitrator with experience and expertise in insurance matters. Should the Association elect, such arbitration shall be expedited under the rules of the American Arbitration Association for expedited arbitration, and no change shall be made until the arbitrator has rendered his/her Award.