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Board approves $5.27 million property and casualty insurance renewal
Summary
Trustees approved a property and casualty renewal effective July 1 with an administration‑recommended premium of $5,274,601 and increased aggregate coverage limits, with staff noting only a modest rate increase compared with expectations.
The Keller ISD board voted unanimously June 12 to approve the district's property and casualty insurance renewal, endorsing administration's recommendation for a $5,274,601 premium and broader aggregate limits to strengthen coverage ahead of construction and replacement projects.
Finance director John Yu told trustees the market outlook had produced a "point 1%" rate increase—much smaller than the several hundred‑thousand‑dollar uptick the district had feared—and that the district was able to increase aggregate limits from $100 million to $200 million. The administration said the renewal would be effective July 1 and credited broad outreach to insurance markets for securing favorable terms.
