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Board approves insurance renewal after underwriter cuts initial bid by $24,000; premium still rises to about $309,000
Summary
District staff reported the insurer trimmed an initial bid by $24,000; despite that savings the annual premium rose from roughly $302,000 to about $309,000. The board voted to approve the insurance proposal from Shephard/Shepard Insurance.
Board members heard an insurance update and voted to approve the insurer's renewal proposal after staff reported a negotiated reduction from the first bid.
Staff said they met with Kyle Turner and the insurance underwriter; Turner was not present at the meeting but is scheduled to attend the next board meeting to walk the board through details. According to staff, the underwriter reduced the district’s initial bid by $24,000. Even after that reduction, staff reported the premium rose from about $302,000 to about $309,000 compared with the prior bid. The report noted favorable movement in the district’s experience model (reported to be below one for the first time since 2022), which helped temper increases.
Board members moved to accept the insurance proposal from Shephard (the transcript contains variant spellings 'Shephard' and 'Shepard'); the motion carried on a voice vote. Board members said Turner will attend the next meeting to present more detailed numbers and underwriting explanations.
The board did not record detailed line-item coverage changes in the meeting transcript; staff asked members to review the materials provided and bring questions for the next meeting when Turner will be present.
