Board approves insurance renewals; district switches cyber coverage to Chubb

The Granville County School Board approved recommendations for the district's insurance providers and accepted staff's suggestion to move cyber insurance to Chubb.

The recommendations, presented by district staff, showed a mixed set of changes: North Carolina School Boards Trust liability decreased (driven by ADM adjustments), commercial property increased about 13 percent, workers' compensation fell with payroll reductions, and cyber insurance previously quoted at a higher renewal by Travelers was found to be available from Chubb at lower cost and improved coverage. The presenter said total premiums for the 2025-26 school year would be approximately $665,000, an increase of $2,265 over the prior year.

Why it matters: Insurance premiums affect the district's operating budget and risk management. The presenter said the commercial property increase is consistent with marketwide changes and that moving cyber insurance to Chubb would produce better coverage at a reduced cost.

Board action: A motion to accept the insurance recommendations was made by Ms. Morris and seconded by Ms. Ansettler; the motion carried. Board members asked follow-up questions about Chubb's reputation and whether the district had used Chubb for other lines of coverage; staff said the district has used Chubb for some lines and that the vendor performed well.

Details from staff: Workers' compensation is payroll-based and declined this year in part because ESSER-funded positions ended. Auto and garage liability rose about 4 percent. The presenter noted that fidelity bond and work-based learning insurance numbers were unchanged and expected to remain stable.

The board approved the renewals; staff will proceed with the recommended providers and incorporate the premiums into the upcoming fiscal-year budget.