|
||
June 6, 2019 - Regular School Board Meeting | ||
Title C12 - Approve the 2019-2020 District's Property/Casualty/Active Assailant Insurance renewal submitted by Arthur J. Gallagher & Co. (broker) | ||
Description Annual renewal of the District's Property/Casualty/Active Assailant Insurance policies | ||
Gap Analysis 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 including Employment Practices Liability, Worker's Compensation, Crime, Cyber Risk, Boiler & Machinery, Storage Tank Liability, and Active Assailant Liability. The overall cost is a 5.91% increase from the prior year's premium. The increase is due to the additional coverage required for Law Enforcement Liability and Workers Compensation coverage for the Police Department. | ||
Previous Outcomes It is standand 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 | ||
Expected Outcomes To approve the Superintendent's recommendation to renew the 2019-2020 Property & Casualty Insurance Program. | ||
Strategic Plan Goal The district ensures fiscal responsibility and equitable distribution of resources. | ||
Recommendation To obtain the School Board's approval of the District's Property, Liability, and Active Assailant insurance renewal policies as presented. | ||
Contact Dr. Susan M. Legutko, Assistant Superintendent for Business Affairs 284-6571 susan.legutko@myoneclay.net | ||
Financial Impact $1,160,753 funded by Capital Funds and General Funds. | ||
Review Comments | ||
Attachments Clay Premium Summary.pdf |