Board hears insurance renewal briefing; staff to secure firm quotes

St. Martin Parish Schools board members on March 7 heard a detailed presentation on the district's insurance renewals and instructed staff to secure firm quotes before finalizing coverage.

The speaker identified in the record as the presenter reviewed drivers of the district's insurance costs, saying the auto-liability loss ratio had been about 190% in a prior year and had fallen to about 123% as older years dropped off the calculation. The presenter described property, equipment breakdown, professional liability (which rose after the district added school nurses), and cyber and crime coverage, and said the combined bottom-line premium was about $10,000 lower than last year.

"All the quotes not in red are firm and bindable," the presenter told board members and recommended the district bind available quotes and return final results at the April meeting. Board members signaled general assent and the transcript records a motion that "passed" to proceed with staff's recommendation to pursue and present firm quotes.

Chair (speaker 6) emphasized the auto side as the main exposure and asked members for a rough yes before staff proceeded. The presenter said property rates in Louisiana were easing and gave an indicative property total in the $2,044,000 range, about $20,000 under last year in a worst-case view.

The board did not record final, firm premium numbers in the provided segments; the presenter said some quoted figures were still not final and would be presented formally in April.

Next steps: staff will secure firm, bindable quotes and present final premium totals and any recommended changes to coverage at the board's April meeting.