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Finance committee approves insurance renewals, keeps Old Republic as primary carrier
Summary
The Tangipahoa Parish Finance Committee on Aug. 4 approved a package of insurance renewals and accepted staff'recommended Option 1 (Old Republic) for primary liability coverage. Members also approved related coverage waivers to reduce cost.
The Tangipahoa Parish Finance Committee approved a package of insurance renewals at its Aug. 4 meeting, accepting staff recommendations to retain Old Republic as the primary liability carrier.
Ryan Campbell, a presenter, told the committee, "We are recommending that we go with option 1, which is Old Republic." Campbell said a second option was roughly $45,000 cheaper but represented a new insurer with uncertain future pricing; he warned the committee that a low introductory premium could be followed by steep increases.
Committee members moved and seconded the recommendation (recorded as a motion by Miss Rose and second by Mister Jerry) and then voted. Mister Westmoreland, Mister Anthony, Miss Dominguez and Mister Moore each voted "Yes" and the motion passed.
The presenters also reviewed other lines of coverage included in the package, noting flat renewals for crime insurance and a modest premium reduction on boiler/machinery coverage despite an increase in total insured value.
