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District general counsel reports lower insurance renewal premium and adds cyber and weapons protection coverage
Summary
The Jackson Public School District general counsel reported that the district's overall insurance renewal premium will be lower than the prior year and that the policy package now includes cyber liability and daily weapons-protection coverage; the office presented premium figures and described coverage enhancements.
The office of general counsel presented an update on the district’s insurance renewal and said the overall renewal premium would be lower than the prior year, with two notable coverage additions: cyber liability and daily weapons-protection coverage.
Attorney Harris told the board the district benefited from modestly improved market conditions and from administrative efforts to reduce property coverage on vacant buildings, which lowered property-insurance costs. The added cyber liability coverage is intended to help cover costs associated with a data breach or cyber attack, including legal services, system restoration and notification costs. The daily weapons-protection coverage adds crisis-response services, including counseling and communication support in the event of an incident involving a weapon on school grounds.
At the board member’s request, Attorney Harris read figures presented at the meeting: the expiring premium for the prior year was stated as $3,346,613.77 and the renewal figure was stated during the meeting as $3,000,152.70 (figures read from materials presented at the meeting). The presentation noted those numbers reflect both a lower overall premium and the inclusion of new coverages.
The presentation was informational; trustees praised the administration’s work to secure broader coverage at reduced cost and had no further questions in the excerpt.
