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Committee reviews 2025 insurance renewal; Utica returns as brokered winner
Summary
Staff reported Utica Mutual returned the most favorable rates after last year's RFP; overall property/liability premiums rose modestly due to a major new building, while workers' compensation costs decreased. Committee members urged continued broker negotiation to use the district's buying power.
The finance committee informally reviewed the district's 2025 insurance renewal and the results of last year's request for proposals, which returned Utica Mutual as the selected carrier.
Joni (staff member) said the district conducted an RFP for insurance services last year and that Utica provided the best overall pricing for 2025. She noted the largest driver of the year-over-year premium increase was the addition of a major new building and that the district's workers' compensation premium actually decreased because high-claim exposure fell. "The workers' comp policy decreased this year," Joni said, adding that the change likely reflects fewer high-dollar claims.
Elizabeth (board member) recommended staff continue negotiating with carriers and the broker to squeeze additional savings, even if the change is only a fraction of a percent. "Even if it is 0.01% or 1%, I think that's the way the world works," she said, urging staff to leverage the district's buying power.
Dr. Redmond (staff member) said the district's broker actively shops carriers annually and that Utica returned the best rates this year. Committee members asked staff to continue monitoring renewals and to pursue negotiation where feasible.
No vote was taken; insurance procurement will proceed under existing RFP/broker arrangements and be presented to the board as required.
