District approves $1.14 million insurance renewal after broker summarizes market pressures

The Moorhead Area Public Schools board approved the district’s FY26 insurance package renewal on May 27, 2025, after a detailed presentation from Joel Quam of Bremer Insurance.

Quam reviewed national and regional insurance-market drivers and their local effects, saying property coverage is strained by severe weather events (hail, wind, storms) and that liability markets have tightened due in part to a rise in litigation and what he described as third‑party litigation financing. He noted the district’s renewal included a roughly 5.9 percent increase compared with the district’s prior year program in preliminary quotes and that work‑compensation costs were generally flat with some experience‑mod adjustments. Cyber insurance showed a rate reduction (reported near 12–15 percent), attributed to strengthened insured controls such as multi‑factor authentication.

Quam recommended retaining the district’s current carriers and coverages and reported a total premium of $1,139,035.89. Board members moved and seconded a motion to approve the insurance package as presented; the motion carried by voice vote. The transcript does not record a roll‑call tally. Administration was directed to complete the renewal and provide binders and invoices to the business office.

Why it matters: Insurance is a recurring, material budget item; coverage terms and premiums affect the district’s operating costs and risk exposure. The broker tied the renewal results to national loss experience, climate-related property claims and evolving liability exposure trends.