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Lakeland CFO reports 18.3% insurance renewal increase; board weighs options
Summary
The district's CFO told trustees that a recent insurance renewal produced an 18.3% increase in liability, property and cybersecurity premiums after ICRMP coverage changes; trustees discussed coverage breadth, comparison needs and the timing of going out to bid.
Lakeland Joint School District Chief Financial Officer Justin Grant told the board that the district—s insurance renewal produced an 18.3% increase in liability, property and cybersecurity coverage after an insurer change and coverage restructuring.
Grant said the district had expected a smaller increase when ICRMP stopped providing coverage through Horton and Company. Renewed coverage, he said, offers broader limits in several areas…
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