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School board renews property and liability insurance, declines uninsured motorist coverage
Summary
The board approved the district insurance package as presented by Gallagher Insurance and opted not to purchase uninsured motorist coverage; premiums rose modestly, according to the vendor.
The Ouachita Parish School Board on May 20 approved a renewal of the district's property, equipment and liability insurance package after a presentation by Kevin Woods of Gallagher Insurance. The board also voted to decline uninsured motorist coverage, as the vendor recommended.
"There is a very small increase" in the premium and the market for large public-school risks in Louisiana is slowly stabilizing, Kevin Woods said while describing the property, equipment breakdown and liability package, which includes cybercrime and kidnap-and-ransom features. The presenter noted a roughly 3.5% increase in premium tied to an increase in coverage limits.
Board members asked about flood coverage; Woods said that the property policy includes flood for some locations, and properties in flood zones have separate flood policies that renew on a different schedule.
The board approved the package and the decision to decline uninsured motorist coverage by voice vote with no opposition. Staff said they will proceed with administrative steps to finalize coverage.
