Purchasing committee approves property and casualty insurance package covering $2.92 billion in assets; premium falls $366,517

The Rutherford County Purchasing Committee voted to accept risk-management and budget committee recommendations for the county's property and casualty insurance renewal, effective July 1, 2026. Staff advised the package covers county government and Rutherford County schools, increases total insured values from $2.665 billion to $2.920 billion and yields a premium reduction from $5,563,755 last year to $5,197,238 this year, a net savings of $366,517.

The recommendation, presented by Ed of risk management, includes expanded coverages and limits (staff noted newly insured properties such as a middle school and an EMS building). Ed told the committee that the recommended carrier and coverages produce both a rate decrease and about $300 million of additional insured value. He also confirmed environmental insurance was added for certain storage-tank and transfer-station exposures; the policy explicitly excludes the landfill.

Ed said the committee's preferred bid met the RFP requirements; one bidder, Obsidian, was not recommended because it had been formed in 2020, excluded uninsured coverage and carved out certain exposures (including unmanned aircraft/drone liability) that meant it did not meet the bid specifications. Staff also presented comparative rate metrics (travelers property rate and other per-$100 valuations) to illustrate the net cost and coverage changes.

Committee members discussed deductible options (the recommended carrier required a $50,000 minimum auto deductible under one option), cyber-security coverage, and other policy terms; county counsel and procurement staff confirmed contract language and limits would be finalized before signatures. The committee approved the recommendation by roll call vote.