Insurance committee reviews 2025–26 property and casualty renewal, directs staff to issue RFQ for brokerage services

The Lafayette Parish School System Board Insurance and Finance Committee reviewed projected renewals for property and casualty insurance for the 2025–26 fiscal year and voted to direct staff to prepare a request for qualifications for brokerage services.

Committee members were shown line-by-line renewal quotes and a summary of recent changes to policy limits and deductibles, and were told those adjustments, together with a softer property market, produced a net year‑over‑year premium reduction compared with last year’s tentative budget projection.

Why it matters: The committee supervises the system’s insurance buying strategy and contract oversight. Changes in broker arrangements or in policy structure affect how claims and premiums are negotiated and how those costs appear in the district budget.

Committee discussion focused on the drivers of last year’s increase and the components of this year’s renewal. The presentation identified an approximate 10.39% increase in property rate bases in one schedule line; student-accident coverage showed a roughly 14.3% increase; overall casualty lines were reported up about 9%; and an aggregate…