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Parish approves insurance strategy to shift fire districts to NFIP, estimates $300,000 annual savings
Summary
The board approved selecting 'Option 2' for insurance renewals: a 30‑day VFIS extension followed by moving fire districts to the NFIP, described by staff as likely to save parish fire districts roughly $300,000 annually; the motion carried.
Cameron Parish officials reviewed several insurance renewal options affecting fire districts and approved 'Option 2,' which staff described as extending VFIS flood coverage for 30 days and transitioning coverage to the National Flood Insurance Program (NFIP) effective Oct. 1. Staff said the shift is intended to reduce annual costs for fire districts by approximately $300,000 collectively.
A staff member described Option 2 as a more competitive price with the same coverage and explained that VFIS coverage could be extended with a pro rata premium for 30 days while the parish transitions to NFIP. Board members moved and seconded the motion to accept Option 2 and the motion carried by voice vote.
The transcript records that the board discussed separating equipment coverage from liability coverage to ensure competitive pricing for equipment; staff indicated they had shopped that component and obtained a better price under Option 2. The minutes record the projected savings figure but do not include an itemized actuarial breakdown.
Because the approval changes insurance carriers and timing, staff will execute renewal paperwork and provide updates on actual premium impacts when available.
