Your Broker’s Best Practices

Many Pool members rely on their broker to give them valuable guidance on how much coverage to buy, and advise them on any additional coverage they may need.

The CSD Pool is committed to helping our broker partners deliver maximum benefit to their clients: our members. We distribute this Best Practices guide to our brokers and are publishing it here to help members who utilize a broker find additional value in their relationship.

CSD Pool Broker Best Practices

The Colorado Special Districts Property and Liability Pool (CSD Pool) values its broker relationships. Our goal is to provide brokers with the tools necessary to offer superior service to their special district clients. These practices were developed with broker input and aim to provide increased knowledge, growth opportunities, and higher client retention levels.

  • Annual review of district exposures and risk management needs 60 to 90 days prior to renewal.
  • Survey your client district’s facilities to assist in risk evaluation.
  • Assist districts with completion of the CSD Pool’s initial application and subsequent renewal updates.
  • Clearly communicate to districts the CSD Pool’s Coverage Form exclusions and limitations as they might pertain to the specific operations of the special district.
  • Offer solutions deemed appropriate as they exist in the insurance industry for any uninsured exposures and suggest alternative ways to eliminate, transfer, or control the district’s risk of loss.
  • Review and propose appropriate coverage limits and deductible options.
  • Review and distribute loss data and claim reports to member districts.
  • Review claim results as appropriate for areas of concern to eliminate any surprises due to a specific claim.
  • Communicate the CSD Pool’s Safety and Risk Management Consultant services and training to districts and encourage them to follow appropriate Best Practices.
  • Review and update Liability, Property, and Automobile schedules for accuracy in descriptions and valuation and recommend appropriate deductible options for all lines of coverage.
  • Help districts report all property the district chooses to self-insure and designate such properties on the districts’ Property schedule. This will eliminate misunderstandings in the event of a claim.
  • Review district contracts with indemnification clauses and insurance requirements to ensure adequate coverage and/or to suggest appropriate legal review.
  • Provide districts with their annual projected and final workers’ compensation experience rating worksheets once they have been promulgated.
  • Attend district board meetings as needed and requested by the district.
  • Understand the Colorado Governmental Immunity Act as it applies to special district insurance issues.
  • Educate districts in reporting their claims accurately and promptly to the CSD Pool.
  • Inform members of their responsibilities at the time of loss for each line of coverage.
  • Communicate clearly that per the terms of the Pool’s Intergovernmental Agreement (IGA), contributions are due at inception and that coverage will automatically terminate on the 60th day should any past due annual contribution remain unpaid. A fee of $100 is due upon request for reinstatement along with the full annual contribution.
  • Follow up with districts when notified that they have not yet paid their Special District Association (SDA) dues. SDA membership is a requirement of participation in the CSD Pool.
  • Request that the CSD Pool issue all Certificates of Coverage, since it is imperative that certificates include Colorado Governmental Immunity Act wording.
  • Review and update schedule of previously issued certificates prior to each renewal.
  • Advise districts on motor vehicle operation Best Practices. The CSD Pool strongly suggests that each employee with any degree of job-related driving responsibility be required to annually submit their driving record to the district. Brokers will provide districts with the CSD Pool’s Driver Standards and acceptability guidelines.
  • Deliver all of the CSD Pool’s renewal insurance documents to districts prior to January 1. This includes but is not limited to named member’s declaration pages, invoices, schedules, certificates, auto ID cards, and workers’ compensation experience rating worksheets, as applicable.
  • Communicate to the CSD Pool any competing programs or services so that the Pool can better review and develop member services.
  • Become familiar with all of the resources and programs available through both the CSD Pool and the SDA.
  • Encourage districts to attend the SDA Annual Conference, as well as the CSD Pool’s regional workshops, monthly webinars, and other training. These opportunities are the most cost effective way for CSD Pool members to acquire the skills needed to assist with managing daily operational and administrative risks.
  • Review the CSD Pool’s website at prior to annual renewal for the latest and most current coverage and risk management information for your special district clients.

Mid-Term Broker Change

The following guidelines were developed from issues that may arise from a member’s change of brokers mid-term. Our general guiding principal is that a broker should be compensated for the work they do as noted above. Exceptions may be considered on a case-by-case merit basis.

  • Broker changes are recommended to be made 90 to 120 days in advance of renewal.
  • Broker changes within 30 days may not include commission changes if incumbent broker has in good faith already processed the renewal to include:
    • Delivery of the CSD Pool renewal update request to the district
    • Following up with members and receiving the updated renewal information
    • Submitting renewal updates to the CSD Pool
    • Receiving renewal documents from the CSD Pool
    • Delivering renewal to members
  • Broker of Record Letters received after renewals have been issued will not be honored unless:
    • The work product of incumbent broker can be shown to be substandard
    • Significant improvement for the member’s benefit can been demonstrated
    • The member agrees to pay new broker a commission directly

A district requesting to move from broker representation to a direct relationship with the Pool or a current Pool member moving to broker representation will likewise not be honored within 30 days prior to renewal where the renewal process has been substantially completed as outlined above.

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