Iberia Parish committee reviews insurance renewals; broker warns of market loss of abuse/molestation coverage
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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 then told the committee that the parish’s prior carrier (Chubb) had stopped offering abuse and molestation coverage nationwide for public‑entity packages. A replacement quote from Munich Re/Princeton Excess Insurance included that coverage but would add roughly $76,000 in premium, increase the parish’s self‑insured retention (SIR) from $200,000 to $250,000, and might limit 'prior acts' coverage to claims dating roughly to 2016. The broker and counsel said the parish’s exposure is concentrated in youth programs (for example, day camp), and while the parish has had few such claims historically, the market is retreating from that line of coverage.
Insurance advisers recommended approving the package to avoid leaving the parish bare, with the administration authorized to continue seeking a better standalone product or improved terms. Several council members agreed the parish should purchase protection while allowing staff and brokers to keep looking for less costly or broader prior‑acts options.
Outcome: The committee moved the renewal forward and directed the administration to pursue improvements if a better product becomes available. The transcript records the committee’s motion and comments recommending approval with authority for administration to secure better terms if possible.
Why it matters: The change in available coverage and higher premium/SIR materially affects parish exposure to liability claims involving alleged abuse; decisions determine whether the parish buys expanded coverage at higher cost or risks being uninsured for that exposure.
Attributions: Coverage and price figures cited by brokers (Jason Quinlan, McGriff; David Dorsey, Dorsey Insurance) and remarks recorded in the committee's transcript informed this account.