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District insurance renewal spikes to $933,306; board approves renewal with limited market alternatives
Summary
The board approved renewal of property, liability and other coverages through the Associated School Boards Protective Trust at a total cost of $933,306, reflecting roughly an 11% increase and limited alternative insurers for school districts.
Stacy Van Beek told the board the district is "locked in" with the Associated School Boards Protective Trust through the end of calendar year 2026 and presented the renewal figures for liability, property, crime and auto coverages. The full renewal totals $933,306, with liability increases and a district-wide premium rise she described as higher than the 8–12% range discussed earlier.
Van Beek said the district typically has few market alternatives that insure schools and that she began exploring options but found the district contractually bound for the current term. "When I went to the meeting back in March... they said to expect between an 8–12% increase. It does vary from district to district, and we got at 11," she said, adding that the district has had few property claims but some liability claims such as student accidents.
The board moved and passed the renewal. Members asked whether other insurers exist and Van Beek said there are very few options for school-related liability/property markets and that the district will revisit options when the contract period ends.
Board-approved prepayments for certain debt obligations and other consent-agenda financial items were discussed earlier in the meeting, and Van Beek noted the timing concern for four debt payments due before the next regular board meeting.
