Brevard board approves 2026–27 property and terrorism insurance renewal after last‑minute negotiations save about $1.3 million

The Brevard School Board approved the 2026–27 renewal of the district's property, boiler/machinery and terrorism/sabotage insurance at a special meeting on April 23, 2026, following a presentation from Arthur J. Gallagher and discussion about procurement timing.

Board members praised the broker team for driving down the district's cost and said the current placement represents a notable savings from earlier quotes. One participant said the negotiations reduced expected costs by roughly $1.3 million — an amount the speaker described as "equivalent to 15 positions or more." The district's current quoted rate was noted in the discussion as about $0.23 per square foot.

Terry Stubbs of Arthur J. Gallagher, the district's retail agent, explained why wholesale brokers were used for Brevard's placement and described how the retail, wholesale and London broker markets interact. "I'm Terry Stubbs, Arthur J. Gallagher. I'm your retail agent on your program," Stubbs said. He said the district used two wholesale brokers — AmWINS and RPS — plus London market access to reach nonstandard carriers for coastal Florida risk. "They're actually competitors but they all play well in the sandbox together and they work in tandem to approach the marketplace for you," Stubbs said, describing a process that yielded 24 market participants last year and 27 this year.

The board also pressed for procedural changes to give trustees more time to review renewals. Several members said renewals have come to the board too close to expiration to permit thorough analysis and, in this instance, left the district only days to sign. Board members asked procurement to target providing renewal packages at least 45 days before expiration so the board and staff can review terms and, if necessary, seek additional market competition.

Discussion included briefings on commission and contract terms. Stubbs described the typical retail commission structure (about 3% that can net roughly 1.5% after purchased services) and said wholesale and London brokers are generally capped around 4%. He and board members also discussed minimum earned premium clauses and cancellation terms; the presentation cited a common minimum‑earned level of about 35% and a higher hurricane minimum earned threshold beginning June 1.

Board members asked staff to ensure renewal paperwork plainly shows cancellation clauses and minimum earned provisions so the district understands any commission or cancellation consequences if a different broker or carrier were to assume the placement midterm.

After discussion the board put the renewal motion to a roll call and the motion carried with affirmative votes recorded. The special meeting concluded with no further business.