NEBHE, through its partnership with the Midwestern Higher Education Compact (MHEC), offers cost containment strategies in insurance and technology. NEBHE’s Cost Savings Programs were developed in response to recognized needs by post-secondary institutions. It is an area of NEBHE that grows as needs are identified. All education institutions or agencies in New England can participate.
NEBHE offers cost saving purchasing options through its agreements with MHEC. These agreements aggregate volume purchases to lower product costs and reduce the time institutions must spend developing and conducting an RFP process and reviewing bids since this work is done by MHEC. Institutions and organizations can purchase the goods or services knowing that the due diligence in selecting the vendor has already been done. These savings are available to New England colleges and universities; K-12 districts and entities; city, county, and state governments, and some non-profit organizations purchasing computers, software, printers, and other products.
NEBHE offers MHEC Cyber Insurance, an approach that analyzes the cyber threat environment, assesses vulnerabilities in security through controls and determines financial exposure. The program benchmarks how much cyber coverage similar institutions are buying.
NEBHE’s comprehensive insurance solutions through MHECare respond to increasing costs and concern for student health. Benefits and services include coverage for a wide array of student groups, as well as a commitment to promote the value of student health and student insurance to higher education leadership. The program offers a contract with national underwriter United Healthcare Student Resources.
The MPP is a regional collaborative venture that provides comprehensive property coverage, specifically tailored to the needs of today’s college campuses, while reducing insurance costs and improving asset protection. The Program has generated more than $114 million in savings for its participating institutions since its inception. The program is currently underwritten by Lexington (AIG) and Zurich with administration led by Marsh USA Inc. and supported by Captive Resources, Inc. under the direction of a leadership committee representative of the insured institutions. Participation in the program includes over 170 campuses with total insured values of over $94.8 billion.