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Clay County schools see modest property-casualty renewal increases as property values rise
Summary
An insurance broker told the Clay County School Board workshop that the district’s 2025 property-casualty renewal shows small overall rate increases driven mainly by a 24% rise in the district—s reported property values; the program retained a competitive marketplace response with 15 quotes from 42 carriers approached.
At a Clay County District Schools workshop, an insurance broker for the district said the 2025 property-casualty insurance renewal would produce only modest overall increases, with most upward pressure traced to a change in the district—s reported property values.
Juri Vanderhoort, an insurance consultant with Allender, told the board the program saw more market capacity and competition this renewal cycle and that district work to update property values offset some marketplace increases. "The property values themselves increased 24%," Vanderhoort said, noting that the change in valuations was the main driver of the retention and premium differences.
The nut of the renewal, Vanderhoort said, is the district—s participation in a protected self-insured program with a specific excess structure rather than a conventional policy. That structure places larger self-insured retentions with the district and buys excess coverage above those retentions, allowing the district to manage claims directly and use its own attorneys and third-party administrators.
Vanderhoort summarized market response: "Of those 42 companies that were approached, 15 provided some quotes and indications," and several additional carriers continued to review the submission. She said the district—s carrier relationships and annual marketing effort produced competitive pricing and that the numbers presented represented the maximum expected pricing as the district continued to finalize quotes before renewal.
Board members asked about the data underpinning the renewal. Vanderhoort said the district team had updated payrolls, student counts and other exposures; she noted payrolls declined by about 7% and that student counts were up, while operating expenditures rose modestly. She also outlined the program—s retention layers: from the presentation, the district—s property retention was shown at $100,000 and workers— compensation retention tiers discussed included figures shown in the handout.
Vanderhoort recommended continuing the district—s marketing approach and reported that the excess property layer had a year-over-year decrease (presented as an 18% reduction) even as property valuations rose.
The board did not take any formal vote during the presentation; the consultant said the program renews June 30 and district staff would continue to finalize carrier terms in the days before that date.
The presentation closed with Vanderhoort offering to answer further questions and to work with the district risk-management staff as the renewal finalized.
Looking ahead, Vanderhoort said staff would return with final contract and pricing details once the remaining carriers completed their reviews.
