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Board approves insurance renewal, opts for $50,000 deductible to reduce premium costs
Summary
Trustees accepted a renewal proposal from the Nevada Public Agency Insurance Pool and amended payment to use fiscal year 2025–26 funds while adopting a $50,000 deductible after hearing staff and pool representatives.
The Elko County School District Board of Trustees accepted a renewal proposal from the Nevada Public Agency Insurance Pool and approved payment from fiscal year 2025–26 funds, adopting a $50,000 deductible for the district’s coverages.
Dane Uriarte of LP Insurance, who works with the district, told trustees the expiring deductible produced a 0.55% decrease in premium year over year and recommended increasing the deductible to $50,000 after running a five‑year claims analysis. “If it was me I would recommend that,” Uriarte said, describing the $50,000 level as a “sweet spot” when combining premium savings with a higher deductible.
PoolPact representative Steven Romero praised the district’s participation in the pool and outlined member services and recent risk mitigation work. Romero confirmed the packet’s comparison showing material savings if the district moved from a lower deductible; Uriarte and Romero said the district’s risk mitigation fund and prior vulnerability assessments reduce the fiscal risk of a higher deductible.
The board moved and approved an amended motion to accept the renewal proposal and authorize payment from fiscal year 2025–26 funds with the $50,000 deductible. The board chair said, “Chair votes aye. Motion passes.” No roll-call tally with named votes appears in the transcript.
Why this matters: raising the deductible can lower annual premiums but increases the district’s out‑of‑pocket exposure for a single claim. Trustees were told the district has been building a risk mitigation fund and recently completed vulnerability assessments and IRMAP work with the pool.
Details: board materials included a packet showing premium and deductible comparisons and a letter about the district’s risk mitigation fund and sweep account arrangements for interest earnings. Romero noted the pool’s grant and training programs and an EIRMap program completed for Elko schools. The motion’s text recorded at the meeting was: “I move to accept the renewal proposal and approval for payment from fiscal year 2526 with a $50,000 deductible.” The motion passed by voice vote.
