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IHL approves insurance renewals; staff says property market improving though high deductibles persist
Summary
The IHL board approved a package of insurance and disaster‑response contracts covering property, cyber liability, disaster response and student health insurance, while staff and broker briefed trustees on market improvements and lingering high deductibles for water and wind/hail losses.
The Institutions of Higher Learning Board voted to approve a group of system‑level insurance and disaster‑response contracts after staff and the board’s insurance broker described an improving property market but persistent high deductibles.
The board approved renewal of the property insurance program arranged through FM‑affiliated carriers; a one‑year cyber liability policy with a Lloyd's of London syndicate; a four‑year disaster response services pool with multiple vendors; and the student health insurance program with UnitedHealthcare for the coming policy year.
Why it matters
David Buford, IHL director of risk management, and Jeff Estes, the system’s insurance broker, told trustees the market has shown increased capacity and improved premium outcomes compared with the prior year. "We are seeing an increase in capacity, and we are seeing an…
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