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Board approves annual property insurance renewal; administration cites better terms after broker change
Summary
Midland ISD administration recommended renewal of the district's property insurance with Gallagher and said broker changes and market conditions reduced premiums while increasing total insured values; the board approved the renewal unanimously.
Tucker Durham presented the district’s annual property insurance renewal, reporting that Midland ISD moved to Gallagher in 2024 and that, over the past three years, changes in broker and market conditions had increased total insured values while reducing annual premiums and deductibles.
Trustees asked questions about earthquake premium costs and whether the district had filed claims; Durham said he did not have those figures off the top of his head. One trustee asked whether they should abstain because of a personal business relationship; legal counsel and other trustees advised that abstention is required only if a member cannot exercise independent judgment. After discussion, a motion to approve the property insurance renewal was moved, seconded and passed unanimously (7–0).
The board did not record specific premium-dollar figures in the oral presentation during the meeting; Durham referenced comparative charts in the packet showing trends from 2023 onward.
