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Insurance renewals push premiums up; district reports gains from new investment strategy
Summary
Committee heard a renewal summary showing increases in property and workers' compensation premiums driven by higher property valuations and payroll growth; investment manager reported a $50 million long‑term reserve established last year has appreciated to about $53.7 million with a yield of about 4.33 percent.
Plainfield SD 202’s Site & Finance committee on May 14 reviewed several district financial items, including insurance renewals, vendor contracts and an update on a newly established long‑term investment portfolio.
Marsh McLennan and PMA representatives joined the committee to summarize the district’s property and casualty insurance renewal and the district’s investment performance. Marsh McLennan noted that property and workers’ compensation premiums increased for the renewal year; staff attributed the primary…
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