(February 08, 2017) - DASNY President & CEO Gerrard P. Bushell announced today the selection of J.P. West, Inc., a minority- and woman-owned insurance firm, as DASNY’s broker of record for its Commercial General and Excess Liability insurance program. This is the first time that a minority and/or women-owned business enterprise (MWBE) has been selected to act as the broker of record for General Liability insurance for DASNY, one of the nation’s largest issuers of low-cost, tax-exempt bonds and one of its biggest public builders.
“DASNY’s leadership in MWBE participation is making the business case for diversity,” Dr. Bushell said. “By selecting best-in-class institutions to work for us, we are building capacity for MWBE firms to take the lead going into the market and helping make New York a more attractive place to live, work and learn.”
J.P. West and its team will help oversee DASNY’s General Liability insurance program for construction projects by finding insurance carriers who will write policies with total limits of $80 million. DASNY’s insurance program also covers 53 million square feet of property for clients, including the City University of New York, the State University of New York, and the New York State Department of Health.
“We are incredibly excited for the opportunity DASNY has created as it continues to lead New York State and break through barriers,” said Eileen Frank, President of J.P. West. “Emerging MWBE firms have historically been left out of the process and this is a major step in the right direction.”
Founded by Eileen Frank in 2000, J.P. West is a licensed New York City-based insurance brokerage firm authorized in 50 states, protecting commercial, nonprofit and municipal risks. It offers a wide range of services including: insurance brokerage, risk management consulting and surety bonding.
Governor Andrew M. Cuomo has set a 30 percent MWBE participation rate on State contracts. DASNY is working hard to achieve that important goal, which helps build inclusive and competitive communities across New York State.
For decades, DASNY has set MWBE participation requirements on its construction projects and operates a surety bond training program to help MWBE firms play larger roles in construction. In more recent years, DASNY has extended its MWBE focus to its public finance business by pairing majority and MWBE legal firms and underwriters.