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Board approves 2026–27 insurance renewal; adds law‑enforcement liability for armed SRO
Summary
Klein Insurance presented the district’s 2026–27 renewal (Liberty Mutual property, CFC cyber). The board approved the renewal and accepted a new law‑enforcement‑liability endorsement (about $1,500) tied to the district’s armed school‑resource officer.
The Lac qui Parle Valley Schools board approved the district’s 2026–27 property, liability and cyber insurance renewal and accepted a new law‑enforcement liability endorsement related to the district’s armed school‑resource officer (SRO).
Ryan Young of Klein Insurance, representing the district’s insurance broker, reviewed the renewal and a companion statement of values. He said total insured property values rose to about $119 million (an increase of approximately $5 million from the prior year) because of added property and inflation‑adjusted replacement values. He reported the district’s workers’ compensation experience modification is 1.47 and flagged that as a driver of higher premiums historically.
Young called out a new law‑enforcement liability coverage item — added because the district now has an armed SRO — with an estimated additional premium of about $1,500. The district also dropped builder’s risk coverage now that construction projects have concluded. Board members asked clarifying questions about the SRO and coverage; the insurance renewal motion (moved by Shannon, seconded by Matt) carried by voice vote.
No detailed premium schedule or roll‑call vote was provided in the meeting transcript.
