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Insurance market shift reduces Sarasota schools’ property premium; board asked to choose between coverage levels
Summary
District risk staff and broker presented a property-insurance renewal showing a roughly 13% premium reduction on a fully insured $75 million limit and a conservative $100 million option; staff recommended remaining fully insured at $75 million and avoiding co-participation to preserve FEMA reimbursement eligibility.
Sarasota County Schools’ risk-management team and broker told the board on April 1 they secured substantially lower property-insurance pricing in the current market and presented two coverage options — a fully insured $75 million tower or a buy-back to a $100 million limit — for board direction.
Ashley Romodka, the district’s chief of human capital, introduced the risk presentation and said district risk director Lynn Peterson and Gallagher broker Danny Parsons negotiated on the district’s behalf. Staff reported an increase in total…
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