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District insurance broker outlines renewal options, says Liberty Mutual claims drive proposed increase
Summary
An insurance broker presented renewal options, cited increased claims paid by the incumbent carrier and sought time to finalize quotes from alternative carriers including MSBA and Berkeley.
An insurance broker briefing to the Hancock County School District Board of Trustees reviewed the district’s upcoming policy renewals, recent claims history and competitive market options.
The broker summarized the incumbent Liberty Mutual renewal and said Liberty has paid $275,906 in claims over the last three years with reserves of about $64,003 currently open. The broker showed a premium comparison across coverage lines (general liability, commercial auto, crime, school leaders E&O, cyber and property) and said increases reflected added autos and recent claims activity.
The broker said he had an option from Berkeley covering general liability, auto and crime but was still awaiting quotes for school leaders E&O and law enforcement legal coverage. He asked for additional time—through the end of the month—to obtain MSBA and CRC comparative quotes; the broker said MSBA is a valuable option but tends to provide renewal figures very close to the expiration date.
Why this matters: insurance premiums and the district’s choice of carrier affect operating costs and the district’s exposure to future claims; the broker recommended shopping the account but noted that detailed quotes for some coverages were still pending.
Board members discussed vehicle exposure (several new buses were added and older 15‑passenger vans were being retired) and possible adjustments to coverages. The broker recommended considering the district’s fleet mix in premium comparisons and noted that crime coverage is limited to $100,000 in the current presentation.
Ending: The broker will continue to pursue MSBA/CRC quotes and present a final renewal recommendation when options for school leaders E&O and law enforcement legal are available; no final carrier selection was made during the meeting.
