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Committee approves insurance renewals; staff and vendors explain contract history and savings
Summary
Terrebonne Parish committee approved renewals for boiler & machinery and property insurance, discussed a historical ordinance reference, and heard brief vendor remarks about stable premiums and post‑Ida savings.
The Budget and Finance Committee voted to authorize the parish’s last renewal term for its boiler and machinery equipment breakdown insurance and to move forward with the 2026 property insurance renewal. Committee members sought clarification about an ordinance reference (No. 95-24) that appeared to name a previous parish president as the executing official; staff said the contract and the ordinance reference are included in the backup materials and that the current action authorizes the final renewal term.
Risk management staff told the committee the boiler and machinery contract’s term began on March 1, 2024, and allows two renewal terms; the action at the meeting authorizes what staff described as the last renewal. Committee members asked whether contract terms would change; staff said no changes were expected for the boiler and machinery coverage for the upcoming renewal year.
Leo Ladea of Ladea Insurance addressed the committee in support of the property program, saying the agency has kept premiums from rising sharply and describing the program as a stable option. Rudy Larese of AccuShare Insurance (formerly Larese Insurance) said premiums have improved since Hurricane Ida, enabling the risk-management team to add coverages and still save compared with last year.
After discussion and clarification, the committee voted to approve the insurance items; one recorded abstention was noted on the boiler and machinery renewal vote.
