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Insurance firm briefs Utica City School District on coverages, highlights cyber protections
Summary
Representatives from Gilroy, Kearney & Gilroy reviewed the district's commercial insurance program, describing property, crime, cyber, liability, and workers' compensation coverage and noting benchmarking on cyber controls; board members asked about valuation methods and policy limits.
Representatives from Gilroy, Kearney & Gilroy gave the Utica City School District Board an overview of the district's commercial insurance policies, describing the types of coverage in place and how limits were determined. The presentation was introduced by a district staff member, Heather, who named Tom Gilroy and Mike Giacobbe as the firm's attendees.
The presenter described policy lines including a commercial crime policy for employee dishonesty, commercial property coverage on a replacement-cost basis, automobile and excess liability for contracted and district-owned buses, student-accident coverage that kicks in after a student's personal insurance, educators' legal and employment-practices liability, cyber liability, excess workers' compensation, police professional liability for vicarious exposure when outside officers are used, and general liability for third-party bodily injury and property damage. The presenter stated, "We have over over $350,000,000 worth of assets, and this covers it on a replacement cost basis," and pointed the board to benchmarking materials and a cyber risk report included in the meeting packet.
Board members asked how replacement values and blanket limits were calculated. The presenter said insurers and brokers use an 'insurance-to-value' calculator that factors square footage, upgrades and use, supplemented by district appraisals for contents. The presenter also cited a district policy blanket limit referenced in the materials; the transcript records the limit as "370 or $80,000,000," a phrase that is unclear in the recorded text and is noted in clarifying details below.
The presenters highlighted cyber liability as a current priority, noting scans and checks in the materials that showed no detected vulnerabilities in the items reviewed. They also explained how first-party cyber coverage can sit alongside risk-sharing pools and how subrogation can be used to seek recovery when appropriate.
The board did not take immediate action on insurance procurement at the meeting but asked for further details and offered the option for deeper, follow-up briefings if board members wished to review particular lines more closely.
