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Property and casualty RFP could cut Edinburg CISD premiums by about $1.3 million, staff says
Summary
Staff told trustees three brokers bid on property coverage and two on casualty; the recommended incumbent broker's package would lower next year's premium by about $1.3 million compared with current costs, partly because an older large claim has dropped off the loss run.
Staff reviewed RFP 26-51 for property and casualty coverage and said market participation was stronger than in recent procurements, with three brokers submitting property quotes and two submitting casualty quotes.
Dustin Garz said the incumbent broker ranked first on pricing and that the recommended package would reduce the district's next-year premium by about $1,300,000. "The number 1 ranked is about $1,300,000 less than we currently pay," Garz said as he reviewed the ranking.
Garz explained the property package includes many sublimits (debris removal, flood, named-storm deductibles, equipment breakdown) and uses replacement-cost valuation rather than actual cash value. He noted the district currently lists $100,000,000 in coverage per occurrence after previously carrying $200,000,000 in past years.
Staff also flagged a pending South Gym claim that is expected to be largely reimbursed under the property policy. Garz said staff will negotiate broker and carrier terms and return to the board with final contract language on Aug. 11.
