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Insurance brokers present renewal options; board asks for two premium summaries before vote
Summary
Arthur J. Gallagher presented Monroe County School District's 2025 property-and-casualty renewal, showing improved property-market pricing and options that would change the district's named-storm flood sublimits; board asked staff to return with two consolidated premium summaries for final approval at the next meeting.
The school district's insurance broker, Arthur J. Gallagher, presented the district's 2025 property-and-casualty renewal on Jan. 28 and proposed program options that would hold the district's overall insurance spending near the current level while improving certain coverages.
Eileen Abella of Arthur J. Gallagher told the board the property-insurance market is improving after recent years of rising rates; Gallagher's proposal included an option that would retain a $2.5 million named-storm/flood sublimit and another option lowering that sublimit to $1,000,000, with corresponding premium adjustments. Abella said the district's overall renewal premium could fall roughly 9.7 percent under one option because of market change and a negotiated reduction in the named-windstorm deductible to $5 million.
The presentation also covered casualty lines, workers' compensation and social-engineering (fraud) exposures. Gallagher recommended retaining social-engineering coverage and discussed options to adjust crime coverage and deductibles; the firm showed how layering certain sublimits across different carriers can build higher effective limits for the district.
Board members raised questions about the trade-offs between higher coverage limits and the district's likely use of FEMA or other state assistance after storms. Gallagher and staff explained FEMA's reasonableness letters have been less forthcoming from the state in recent years and that the district routinely purchases National Flood Insurance Program coverage for vulnerable campuses. Gallagher agreed to return to the next meeting with two consolidated premium summaries: one that keeps the $2.5 million named-storm option and the other that shows the lower named-storm sublimit for cost comparison.
No vote was taken at the Jan. 28 meeting; the board scheduled a follow-up presentation and the formal vote at the next meeting once staff supplies the requested premium summaries and confirms carrier assignments.
