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Board approves property renewal, equipment and workers'-comp contracts; district to reject terrorism coverage
Summary
At the March 5 meeting the board approved a $1,543,417 property/building renewal with improved terms, a boiler/machinery renewal, and workers' compensation excess coverage and service contracts (TPA and safety consultant); the board voted to reject terrorism coverage on the property policy.
The St. Mary Parish School Board approved several insurance and risk-management actions at its March 5 meeting.
Mrs. Broke presented the property/building and contents renewal for the policy year beginning April 1, 2026, reporting a renewal premium of $1,543,417, a $351,000 decrease from the prior year and a quoted 22% rate decrease. She noted improved policy terms including an increase in the margin clause from 105% to 115% and an increase in the extra-expense limit to $5 million. She recommended rejecting terrorism coverage; on a motion by Mrs. Anselm, seconded by Miss Brent, the board approved the recommendation.
Mrs. Broke next reviewed the boiler and machinery (equipment breakdown) renewal through Frank's agency with Liberty Mutual. The presenter said limits and deductibles would remain the same; the transcript's renewal-premium line is unclear (shows "$15,7"), and the presenter described the figure as an increase of about $3,500 over the expiring premium. The board approved the renewal (motion by Miss Griffin, second by Dr. Wilson).
For workers' compensation, the board was reminded the excess policy is a two-year policy with the second-year premium locked at $98,239; no motion was required for that notice. The board then approved retaining the claims administrator (TPA) at an annual fee of $29,367 and a safety/loss-prevention consultant at an annual fee of $15,000 (motion by Mr. Parody, second by Mr. Gillery). These contracts were presented as part of the district's self-funded workers' compensation program.
All motions on these insurance and risk items carried without recorded roll-call tallies.
