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Ascension Parish committee backs $100 million property renewal, raises named‑storm sublimit and cuts deductible
Summary
The committee approved staff’s recommendation to renew property insurance at $100 million all‑risk (excluding flood/quake), raise the named‑storm sublimit to $25 million and reduce the storm deductible to 2%, producing an estimated premium reduction versus last year and advancing the item to the full board.
Committee members reviewed Ascension Parish’s property insurance renewal and voted to accept staff’s recommendation to maintain $100 million in all‑risk property coverage (excluding flood and quake), raise the named‑storm sublimit to $25 million and reduce the storm deductible to 2%.
The change — recommended by the parish’s insurance advisor — was presented as producing a roughly $262,000 reduction in annual premium compared with the prior year because more insurers were willing to participate at larger layers, staff said. Jeff…
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