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Monroe Local to change carriers as property/liability and cyber coverage rises about 19.6%
Summary
Facing large market increases, the board approved a switch in carriers for property, liability and cyber coverage with an overall premium increase the treasurer said amounted to 19.6 percent; a prior quote from Liberty Mutual would have been substantially higher, Moore said.
The Monroe Local Schools Board on June 23 approved renewal of the district’s property, liability and cyber insurance for the 2025–26 policy year under an alternate carrier after brokers delivered multiple market quotes and one incumbent carrier proposed a very large increase.
Treasurer Amy Moore told the board the chosen package represents a 19.6 percent increase in premium from the district’s prior cost baseline. "It is 19.6," Moore said during the meeting. She said Liberty Mutual, the prior carrier, had proposed a 102.52 percent increase in its quote, which the board considered unacceptable, and that the broker solicited other carriers to reduce the increase. Board members approved the insurance renewal by roll call; the motion to remove and renew coverage was moved by Mr. Leeds and seconded by Mrs. Hagedorn.
Moore said the broader market — particularly storm and roof claims in the Midwest — has driven up pricing and that the district’s broker pulled proposals from multiple carriers to find a more moderate increase. "The broker that we work with, he pulled, from 3 other entities," Moore said, referencing the search for alternatives.
Discussion: Board members noted the difficult market for school insurance and thanked staff and the broker for shopping the coverage. The board did not change coverage limits in the meeting record; the vote approved the district moving forward with the recommended carrier and policy package.
Decisions: Approve renewal and carrier change for property, liability and cyber coverage for policy year July 1, 2025–June 30, 2026; approve the recommended premium as presented.
Why it matters: Insurance is a core risk‑management cost for the district. The chosen renewal limits the district’s premium exposure compared with an alternative quote that would have more than doubled cost, Moore said.
What’s next: Finance staff and the broker will finalize policy documents and present final premiums and carrier names in the posted board packet and subsequent financial reporting.
