Annual renewal of the District's Property/Casualty/Active Assailant Insurance policies

Annually, the District comprehensively analyzes its current insurable property and personnel.  Our broker (Arthur J. Gallagher) obtains competitive quotes based on current insurance trends and needs for the next fiscal year.  The goal is to obtain the best coverage possible while maintaining a manageable budget.  This year, the policy includes renewal for Property, General Liability, Auto Liability, School Leaders, Employment Practices Liability, Workers' Compensation, Crime, Cyber Risk, Boiler & Machinery, Storage Tank Liability, and Active Assailant Liability.

Based on the proposed modification to the overall program, the cost of the 25-26 renewal will increase by 4.38% with no adjustments made to any deductibles. The following chart represents the different options. 

It is a standard operating practice to negotiate and present insurance renewals for approval based on needs, trends, and financial availability.

2016-2017 - $1,040,615

2017-2018 - $1,045,627

2018-2019 - $1,095,983

2019-2020 - $1,160,753

2020-2021 - $1,229,394  

2021-2022 - $1,347,185

2022-2023 - $1,629,327 

2023-2024 - $2,113,804

2024-2025 - $2,070,704

To approve the Superintendent's recommendation to renew the 2024-2025 Property & Casualty Insurance Program. 

The Superintendent recommends Option #2, $2,161,396, a 4.38% increase to the overall liability plan.  This increase is primarily due to the rise in our property values and the present market condition for this type of insurance coverage.     

Goal 5:  Strategy 2:  Ensure fiscal responsibility through the effective management of district operations in an effort to maximize available resources necessary to provide an environment that is safe, efficient, and conducive to learning.  Promote fiscal transparency and communication.

To obtain approval of the Superintendent's recommendation of the District's Property, Liability, and Active Assailant insurance policies as presented.