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School board approves property and casualty insurance renewal with higher named-windstorm limits
Summary
The board approved renewal of the district's property and casualty insurance through FISBET/TRUST with increased named windstorm limits and a multi-year payment schedule that requires advance payments. Staff cited rising construction costs, higher juries awards, and sovereign-immunity discussions as drivers of premium increases.
The Santa Rosa County School Board approved renewal of the district’s property and casualty insurance through the Florida Schools Insurance Trust (FISBET/FISBET trust), accepting a package that increases named windstorm limits and uses a front-loaded payment schedule, district staff said.
An insurance presenter described the change in coverage from $125 million in named windstorm reinsurance…
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