Committee approves $1.83 million insurance renewal; presenter says premium fell about $518,000 from last year

The Lafourche Parish School Board Business Committee voted to approve a recommended renewal of the district’s building and contents insurance, with a combined premium listed in the meeting materials as $1,833,380, down from about $2.3 million the prior year.

An insurance presenter reviewing the package said the renewal being offered through Jones Agency preserves existing limits — $20 million for wind and $100 million for other perils — and retains the current deductible structure (5% with a $250,000 minimum for named wind and $100,000 for other perils). The presenter told the committee the premium shown in the materials is $1,830,419 as of the meeting and that the number could change slightly before final board approval; he said he expected it would only go down from the figure shown.

The presenter attributed much of the premium decline to a combination of recent capital improvements at district facilities (for example, new roofs and code‑compliant replacements) and a year without major storms, and said the quoted rate decrease was roughly 20%, or about $518,000 compared with the prior year’s premium. He also noted the package includes a $4 million non‑ownership drone liability policy for vendor operations on district property; the presenter recommended rejecting terrorism coverage for this renewal and authorized the superintendent to sign related documents.

A motion to approve the recommendation was recorded as moved by Miss Wells; members asked clarifying questions about the role of recent facility upgrades and the absence of storms in driving the lower rate. The presenter reiterated both factors contributed to the decline. The committee recorded the motion as carried.

The committee sent the renewal forward to the full board for final approval at the April meeting, with the presenter saying he would report any final adjustments to the premium before that meeting.