Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Insurance Procurement topic
No spam. Unsubscribe anytime.
Board committee accepts Arthur J. Gallagher recommendation for district insurance program, overall premiums fall about 9%
Summary
St. Tammany Parish Schools’ insurance committee recommended Arthur J. Gallagher to broker the district’s insurance program covering liability, property, cyber, workers’ compensation and NFIP flood; the committee reported an estimated 9% overall premium decrease and unanimous board approval at committee meeting.
The insurance committee recommended selecting Arthur J. Gallagher to provide broker and placement services for the St. Tammany Parish Schools insurance program covering general liability, auto liability, educators’ legal liability, property, cyber liability, workers’ compensation, NFIP flood and other lines. The committee presented the recommendation and said multiple underwriters provided quotes across lines; the district received a single broker proposal from Arthur J. Gallagher.
Risk manager Mister Davis told the board the selection represents an estimated roughly 9% reduction in overall premium costs compared with the prior year — approximately $292,666 less in annual premiums — the second consecutive year of a decrease. He described line-by-line movement: general liability and auto liability had pressure from claims experience (noting increases in those lines), property insurance showed a 15% decrease (about $324,000 less than the prior year), cyber liability fell by roughly 25% after the district’s adoption of multifactor authentication and other cyber controls, boiler-and-machinery rose by about 7%, and workers’ compensation premium presented a 10% decrease from the prior year. The National Flood Insurance Program (NFIP) estimate was listed at about $303,780; Davis noted the NFIP figure was set by FEMA and represented an estimate.
Mr. Bourgeois of Arthur J. Gallagher discussed underwriter interest, attribution of property-cost reductions to additional asset information and modeling, and the district’s claims posture. He said two competitive workers’-compensation quotes helped deliver estimated savings and praised the district’s risk-management work in closing claims and improving controls.
Board members moved to accept the committee recommendation; the motion was seconded and the committee reported a unanimous approval.
Why it matters: Insurance placement affects the district’s exposure to loss and its annual operating costs. The committee described reduced premiums overall and credited improvements in cyber controls and property underwriting, while noting claims drove increases in certain liability lines.
What’s next: Staff will finalize broker placement and binding and report any final NFIP figures and policy forms.
