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Insurance renewal up 7.5%; $10,000 wind-and-hail deductible retained
Summary
The committee reviewed a property/liability/workers' compensation renewal showing a 7.5% overall increase that tracks industry trends; the renewal preserves the district's $10,000 wind-and-hail deductible and reflects new building values while the workers' comp mod decreased from last year.
The committee reviewed the district's property, liability and workers' compensation insurance renewal, which shows an overall premium increase of 7.5 percent that the minutes say aligns with industry increases. The insurer's quote includes updated building valuations and keeps the district's $10,000 wind-and-hail deductible in place.
Committee members noted the workers' compensation modification factor decreased from the prior year, which the minutes describe as a positive change. No formal action was recorded at the Finance Committee; the renewal information was reviewed as part of the packet.
