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Chapel Hill ISD approves Insurica for property and casualty coverage as reinsurance rates rise
Summary
The board approved Insurica (formerly North American Solutions) for property and casualty services after staff reported global reinsurance market pressures and rate increases exceeding 10%; Insurica solicited multiple carriers to secure competitive terms.
The Chapel Hill ISD Board voted 6–0 Aug. 19 to approve Insurica (formerly North American Solutions) to manage the district's property and casualty insurance renewal amid a tightening reinsurance market.
Assistant Superintendent Matthew Strode told trustees that reinsurance rates have increased notably over the past year, "with rates exceeding 10%," and that Insurica reached out to multiple global carriers, including PCAT, to find the best combination of premium and named-storm deductible. Lauren Andreadis provided supplemental details at the board meeting. David Acker moved to approve Insurica and Rickey Mosley seconded; the motion carried 6–0.
The board's action authorizes continuation of Insurica's placement services and is part of the district's risk-management approach. No premium amounts were disclosed in the minutes.
