Progreso ISD board approves insurance renewal after discussion of coverage differences and lower property rate

Progreso ISD trustees voted to approve Item B1, the district's property, auto, casualty and liability insurance package, after a midday presentation and short discussion on June 26. A risk consultant who presented the packet said the district's quoted property premium this year was $432,214 against a new appraisal total insured value of $166,320,000, producing a rate of 25 cents per $100 of value — down from 39 cents last year.

"That rate right now as it sits is 25. So for every $100 of value we charge you 25 cents," Adrian Pan, who identified himself as working with Patrick Risk Management Fund, told trustees. Pan highlighted that the drop in rate and premium occurred even though the district's appraised value rose about $25.7 million this year. He said the packet included side-by-side vendor submissions and noted that vendors diverged most on auto liability and named-windstorm limits.

Pan also described differences in other coverages and endorsements between the bids, including cyber liability at a $500,000 limit and a flood endorsement that the district's pool set at $5 million (up from $2 million last year). One trustee emphasized fiscal priorities during discussion, saying the board should avoid paying for coverage that exceeds the district's likely legal exposure and instead direct funds to staff and students. Trustee Missa moved to approve the insurance item; the motion received a second and passed on a voice vote. The transcript does not record a roll-call tally or name the second.