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Iberia Parish committee reviews insurance renewals; broker warns of market loss of abuse/molestation coverage
Summary
The executive committee reviewed renewals for employee health, dental and life insurance and property/liability coverage. Brokers said the parish’s prior carrier was withdrawing abuse/molestation coverage nationwide and a replacement quote would add about $76,000 in premium and raise the self‑insured retention to $250,000; members authorized the administration to accept the renewal while seeking improved terms if available.
The Iberia Parish executive committee reviewed insurance renewals Feb. 11 and discussed options after brokers reported volatility in the market for certain liability lines.
Committee members were told health insurance renewal (Blue Cross Blue Shield of Louisiana) produced an approximately 3% increase, smaller than the budgeted amount. Jason Quinlan of McGriff Insurance Services reported an 11% decrease on property premiums compared with the prior year due to increased competition and inspections, producing roughly $45,000 in savings on property coverages.
Brokers and legal counsel…
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