Katy ISD risk management presents lower property-rate renewal and recommends TASB casualty renewal
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Summary
Risk management presented a renewal for the district's 2025-26 property-insurance program with an updated insured value and a lower pure-property rate; staff also recommended renewing TASB's casualty program despite a modest premium increase tied to growth, inflation and reinsurance costs.
Lance Naumann, the district's director of risk management, recommended approval of Katy ISD's 2025-26 property-insurance renewal and the Texas Association of School Boards (TASB) Risk Management Fund casualty program.
Naumann reported an updated total insured value of approximately $4.79 billion (expiring value $4.53 billion), said building values were adjusted for inflationary trends, and presented line-item premium estimates for property, flood, terrorism/sabotage, boiler and marine coverage. He reported the expiring pure property rate was 0.1968 and the renewal rate 0.1647. Staff recommended the board approve the property program with a not-to-exceed premium for the categories presented.
For casualty coverage, staff noted a small premium increase attributable to district growth, inflation and higher reinsurance rates but said general-liability and cyber-line costs remained relatively flat. Trustees asked whether staff solicited other vendors; staff said they reached out to prospective carriers but received no responsive indications comparable to the TASB program, which covers most Texas districts and provides scale advantages.
Staff recommended the board renew both programs; the transcript records discussion and clarifying questions but not a formal recorded vote.