Spring Harbor RFP

Spring Harbor RFP

Response to

Request for Broker Qualifications for Property / Casualty Insurance & Employee Benefit s Insurance

February 14, 2022

Presented by:

INSURANCE  RISK MANAGEMENT  EMPLOYEE BENEFITS  SURETY BONDS 6001 River Road, Suite 406  Columbus, Georgia 31904  706.571.0093

Introductory Statement

February 14, 2022

Janet Peters Accounting Director Spring Harbor at Green Island 100 Spring Harbor Drive Columbus, Georgia 31904

Dear Janet:

We are extremely pleased to have the opportunity to discuss your insurance brokerage relationship and forward looking insurance partner needs. The combination of market uncertainty and rising insurance costs concerns has driven many companies to review their options, and in many cases change brokers. Yates Woolfolk & Turner has been extremely successful in establishing new client relationships in this turbulent environment given our unique value proposition. Our success comes from our ability to deliver the right combination of people, size, financial strength, expertise, resources, marketing and chemistry that add real value to our clients’ risk management processes. Our formula for success is straightforward:  Our ownership structure, business model and culture are unique to the insurance brokerage business, which affords us a distinct and sustainable competitive advantage in our market.  Consequently, we attract and retain the very best technical professionals in our business that are accountable, passionate, and committed to achieving the best results for our clients on a continuous basis.  As a result, we have one of the industry’s leading client retention rates which is the ultimate measure of success in our business. Dedicated, experienced professionals who understand your business operating in a unique, healthy, and energetic environment produce extraordinary results. We would very much like the opportunity to demonstrate our commitment to Spring Harbor. Throughout this document, we will demonstrate to you the many value points and distinct differences that make Yates Woolfolk & Turner a great partner for Spring Harbor. We encourage you to contact our client references to discuss how we improve the bottom line of their risk management programs and also carefully review our compensation arrangement which is one of the most competitive in the industry.

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Describe your firm

Yates, Woolfolk & Turner Insurance's history of providing personalized and innovative service to our clients spans over 100 years. In July 2006, two of Georgia's oldest insurance agencies, The Yates Agency (established in 1949) and The Woolfolk Agency (established in 1896) merged based on a shared principle of offering custom programs managed by world-class talent. Today, our staff has grown to over 150 associates and is one of the largest privately held agencies in the Southeast. Yates, Woolfolk & Turner Insurance was founded on the basic principles of knowledge, service and tradition:  We are committed to the highest standard of excellence in everything we do.  We believe in fostering and respecting the relationship with each client and carrier, and we promise to make a recognizable difference to our clients' businesses through innovative insurance solutions.  We believe in sustaining a highly ethical, moral and caring culture.  We strive to be the premier insurance brokerage firm in the markets we serve. Our philosophy for offering first-class client service begins with recruiting, attracting, and investing in the best and brightest talent. We believe in empowering our employees with the abilities to exercise their skills, and we are committed both to being a great place to work and to offering unmatched client service. As a privately held firm, our principals and the executives handling your account have a vested interest in developing and maintaining long-term relationships with clients such as Spring Harbor. On behalf of our clients, our firm manages in excess of $200 million in property / casualty insurance premiums on an annual basis. Most of our carrier/agency agreements are preferred agent status. We have access to the top-tier wholesalers as well as an enviable position with the London markets.

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What is your approach to securing the best rates?

Program Analysis Methodology Every broker touts his or her wide-ranging array of professional services during the sales process. But Yates sits down with the client to talk about their needs; how Yates’s capabilities can address each of these needs; then Yates creates a written service plan, with the client at the table, which clearly lays out the service commitments and value added objectives. We believe that the client should depend heavily on its insurance broker for advice, counsel, and service. This requires a close relationship based on continuity of people and familiarity with your needs. Spring Harbor is extremely conscious of the cost of risk; therefore, the program should be structured in such a way to consistently achieve the best results. Yates offers the following services and capabilities to help manage your total cost of risk:  Loss Forecasting

 Cash Flow Analysis  Retention Analysis  Collateral Analysis

This will allow Yates and Spring Harbor to determine appropriate levels of Risk Retention versus Risk Transfer factoring in market conditions. Once we have a structure to work with and a preferred funding method , "collateralization" , we will use this information to determine which structures are most appropriate. Program Design The foundation for selecting an optimal program design begins with defining critical business and risk management objectives and choosing decision criteria that will aid in reaching those objectives. This is a key part of the program design process. Once these steps are taken, we will evaluate the extent to which several risk financing structures fulfill those objectives, from guaranteed cost policies purchased from a traditional insurer to capital market products provided by the financial market.  Limits  Carriers  Retention Levels  Coverages  Self-insurance

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Spring Harbor’s Objectives We need to discuss and rank in order of importance the following topics:  Predictability of cost  Minimize earnings volatility  Maximize cash flow advantages  Minimize collateral  Tax acceleration  Carrier relationships  Control of claims handling

Loss Forecasting & Analysis

An accurate prediction of future losses is the foundation upon which most risk management activities are built. Activities such as cost allocations, loss cost reduction efforts, and benchmarking projects all depend on loss information as a starting point.

 Reserve Analysis  Loss Development  Collateral Analysis  Alternative Risk Markets  Financial Reviews

Exposure Analysis A survey can uncover loss exposures, including those traditionally considered non- insurable. The account management team and the appropriate individuals at Spring Harbor will work together to catalogue exposures, risk control practices and strategies toward handling risk. Our entire team will work with you to suggest, evaluate, and select effective risk control and risk financing techniques.

Retention Analysis

We will employ a variety of methods that assist you in assessing risk-bearing capacity, both for individual lines of coverage and in the aggregate. Loss costs (both insured and uninsured), insurance costs, financial benchmarks, and client- specific circumstances and appetites are key factors our model contemplates.

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Do you work with other clients in our industry? Can you provide a reference? We are proud of the service we provide and feel our clients will agree. We have identified the following clients which you may be familiar with as well as other clients with very complex risk management requirements. We encourage you to contact any of these clients to discuss our firm’s service capabilities and their experience with our staff.

Services Provided

Client

Contact

Description

Jack Hughston Memorial Hospital The Hughston Clinic

Property / Casualty Brokerage & Consulting

Mark Baker CEO 706-324-6661 [email protected]

47 bed hospital facility plus physicians clinics 750 employees

Columbus, GA / Phenix City, AL

Shepherd Center

Property / Casualty Brokerage & Consulting

James Shepherd CEO 404-352-2020

152 bed rehabilitation center, including 10 bed ICU unit 1,735 employees

Atlanta, GA

Autumn Glenn Management Group dba Sterling Estates Retirement Community

Marshall Gill COO/Partner 678-467-7643 [email protected] [email protected]

Independent & Assisted Living Facility 175 employees

Employee Benefits Consulting (Group Medical, Group Dental, Group Life & LTD, Voluntary Benefits)

Marietta, GA

Azalea Estates

Marshall Gill COO/Partner 678-467-7643 [email protected] [email protected]

Independent & Assisted Living Facility 100+ employees

Employee Benefits Consulting (Group Medical, Group Dental, Group Life & LTD, Voluntary Benefits)

Fayetteville, GA

Columbus Consolidated Government

Anne-Marie Amiel Risk Manager 706-225-3113 [email protected]

Municipality Large property risk

Property Insurance Brokerage & Consulting

Columbus, GA

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Do you provide assistance with compliance and HR concerns?

Yes, our firm provides hands-on consulting and guidance for all compliance and HR matters. In addition, we provide every client direct access to our Zywave Client Cloud at no cost. The Zywave Client Cloud offers all the tools and content needed to solve unique pain points, along with the day-to-day concerns of HR and Compliance. We also have a preferred partnership with iSolved Benefit Services to integrate and simplify all the headaches associated with ERISA, COBRA, FMLA and Cafeteria Plans.

Simply put, if we don’t know the answer we can get an accurate one to you very quickly.

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How will you ensure rates are competitive in the future?

Benchmarking is the cornerstone of the consultative approach we take in providing brokerage services to our clients. We access and provide this from three primary sources: internal, carrier partners and industry publications. Typically we asses all three to determine what is most appropriate for the client. We discuss this in full with the client to assure that the recommendation is in keeping with their risk appetite. We use the following >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17

www.springharborseniorliving.org

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