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

Annually, the District undergoes a comprehensive analysis of 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 for the coverage.  This year, the policy includes renewal for Property, General Liability, Auto Liability, School Leaders, Employment Practices Liability, Worker's Compensation, Crime, Cyber Risk, Boiler & Machinery, Storage Tank Liability, and Active Assailant Liability.

The overall cost is a 30% increase of $496,231 from the prior year's premium.  The increase is primarily due to the rise in property values, payroll expenditures, and active assailant premiums as well as the current market conditions.

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

2015-2016 = $1,200,697

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   $2,125,558

To approve the Superintendent's recommendation to renew the 2023-2024 Property & Casualty Insurance Program Option #3 as presented.

The district ensures fiscal responsibility and equitable distribution of resources.

To obtain the School Board's approval of the District's Property, Liability, and Active Assailant insurance renewal policies, Option #3 as presented.

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