Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board approves property-insurance approach that trades short-term premium for contingent district exposure
Summary
To reduce the 2025–26 insurance premium, trustees approved a property‑insurance option that lowers the annual premium but shares catastrophic losses with the district up to $8.75 million (FEMA‑reimbursable in declared disasters), district officials said.
Trustees approved a renewal package for the district’s insurance coverage that will reduce the district’s annual property and casualty premium by roughly $1 million, administration told the board, in exchange for a larger contingent exposure on catastrophic claims.
CFO Dr. Pete Poppe and insurance broker McGriff presented the options; administration recommended “Option 5,” a program that retains a self‑insured share equal to 35% of losses on a…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
