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Tri Valley Board reviews insurance switch that district said will cut premiums by about $35,000
Summary
Presenters from Sprague & Killian told the Tri Valley board the district moved from a reciprocal insurer (NYSER) to a commercial carrier to remove member liability and realize an estimated $35,000 savings while noting differences in cyber and pollution coverage.
The Tri Valley Central School District board heard a presentation from insurance brokers about a change in the district’s insurance program that, the presenters said, will remove reciprocal-member liability and lower the annual premium.
Richard Bibermroth of Sprague & Killian said the district left NYSER, a reciprocal where members can be liable for other members’ catastrophic losses, and moved to a commercial carrier (presented as Utica National/Eureka National). "With a commercial carrier we have no liability for other district losses," he said, and added that the change produced substantial premium savings. The presenter reported the district’s prior premium at $157,229 and the new premium as roughly $122,000, saying the difference was about $35,000 and described the reduction as "almost 29%".
The presenters flagged tradeoffs. Bibermroth said Utica/Eureka’s replacement valuation for buildings and contents was higher in one comparison (the firms gave different replacement totals), while NYSER showed higher limits on some pollution and umbrella lines and a larger cyber limit in one example discussed. "Whenever you look at insurance, it's never apples to apples," he said.
Board members asked whether the carrier had performed an audit or site review; the presenters replied that an RFP and review process (including BOCES participation) had taken place and that agencies were invited to present quotes. One board member thanked the presenters for the work and noted the district had already adjusted administrative systems ahead of the July 1 coverage date.
The presentation included specific policy details discussed at the meeting: property valuations, product liability, pollution coverage, cyber limits, deductibles, automobile liability, educators’ legal liability and crime coverage for fiscal officers. The presenters said the district had been part of the reciprocal for five years and that fiscal responsibility drove the change.
Next steps: the board did not take a separate vote on the presentation itself; follow-up questions were to be pursued with district business staff if board members wanted additional line‑by‑line comparisons.
