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Board renews property/casualty and workers‑comp insurance; administration to evaluate deductible buy‑down and cyber limit increase
Summary
The board approved a renewal with EMC for property, casualty, cyber and workers‑comp coverage; administration reported a 5.1% premium increase (driven by state workers‑comp rates) and will evaluate a deductible buy‑down and higher cyber limits before final signature.
The board approved renewal of property/casualty, cyber, auto and workers‑comp insurance with EMC for the 2026–27 year after staff outlined a modest overall premium increase and options to improve cyber coverage.
Rod told the board the renewal reflected a roughly 5.1% increase in premium overall, with most of the upward pressure driven by workers‑comp rates set by the state. He said added replacement‑value exposure from the district's new building will raise blanket building and personal property limits when the carrier updates valuation.
Administration recommended reviewing a deductible buy‑down (which would reduce the district's per‑claim deductible for wind/hail and similar perils for a modest additional premium) and was looking at raising cyber limits from a current $50,000 ransomware limit toward a higher limit (e.g., $500,000) for additional premium of several thousand dollars. The board approved the renewal and directed administration to evaluate the buy‑down option before finalizing any add‑ons.
Action: Motion carried to renew with EMC with direction to administration to investigate deductible buy‑down and a possible cyber coverage limit increase.
