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Board accepts recommended property/liability and workers' comp insurance; committee cites limited quote responses
Summary
After committee review, the board approved EMC for property/liability and IPEP for workers’ compensation; administration noted a small overall premium increase and discussed cyber coverage limits.
The administration presented the insurance committee’s recommendation and the board approved the recommended insurance package at the Jan. 10 meeting.
The committee had solicited quotes from multiple carriers; three returned quotes. The recommended package was to place property/liability coverage with EMC and workers’ compensation with IPEP. The packet reported an overall premium increase of $1,124 leading to a quoted premium of $149,024 for the school year. The district will retain a $5,000 deductible for property and workers’ compensation coverage, a choice the committee said did not materially reduce premium if increased to $10,000.
The administration noted the district’s current cyber/ransomware insurance limit was $50,000 and that EMC offered an option up to $500,000 but with a significant premium increase. The business office reported that certain software vendors (Computrol) maintain higher cyber policies, which partially reduces district exposure.
Board members expressed appreciation for the committee’s review and local-procurement preference. The motion to accept the recommended carriers passed on a unanimous vote where recorded. Administration will finalize binding and report the finalized coverages and premiums back to the board.
