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Diamondhead council approves property insurance renewal; staff recommended against joining pooled program
Summary
After an insurance presentation, the council approved a property insurance renewal effective 05/01/2025. Insurance presenter Frank Bordeaux recommended the city keep a standalone policy rather than join the pooled 'Coast Guard Pro' program because the pool would raise deductibles despite modest premium savings.
The Diamondhead City Council approved a property insurance renewal effective May 1, 2025, after a presentation from insurance representative Frank Bordeaux, who recommended the city remain on a standalone policy rather than join a multi-entity pooling program referred to in the transcript as "Coast Guard Pro" (the program name appears with variant spellings in the record).
Bordeaux told the council that while joining the pool would have lowered the premium by a modest amount, it would raise the city’s deductibles — citing an example AOP deductible increasing to roughly $25,000 and a higher named-storm/wind deductible if the city entered the pool. "My recommendation is to not join Coast Guard Pro with the other entities," Bordeaux said, adding that the standalone renewal still offered a premium decrease from the expiring policy and improved terms.
During the presentation Bordeaux stated the expiring premium and the renewal premium in the record; the transcript lists those figures in a garbled numeric form, which Bordeaux summarized as a reduction in premium (the record also includes an earlier statement that the savings were "almost $5,000"). To avoid implying false precision, the transcript supports describing the expiring premium as about $28,000 and the renewal premium as about $26,000.
Councilman Mark moved to approve the property insurance renewal; Councilman Finley seconded. The clerk conducted a roll-call vote and the motion passed with council members recorded as voting yes. The council members had no substantive follow-up questions following Bordeaux’s presentation, and several members praised his work.
Bordeaux said staff will continue to monitor market conditions and that the city could reconsider joining a pooled program in future years if the market hardens; he noted that the program could become attractive again following a major event that shifts the insurance market.
No ordinance or budget amendment was recorded in the transcript; the action recorded was the council’s approval of the renewal on the floor.
