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Meeting Date:
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8/5/2024 - 6:00 PM
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Category:
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CONSENT ACTION ITEMS
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Type:
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Action
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Subject:
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Approval of a Resolution Regarding the Renewal of Property, Casualty and Legal Liability Insurance
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Strategic Plans:
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Enclosure
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File Attachment:
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Summary:
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The renewal proposal of Selective Insurance is being recommended by our broker, Troxell, for FY 2024-2025 for our insurance in the amount of $824,764, which represents a $152,559 increase over the previous year. This is a 22.7% increase. A large portion of this increase is due to the increase in property value because of our new and updated construction. We saw a $45 million increase in Property value.
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Funding:
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Various Funds: O&M, Tort, Education
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Resolution:
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WHEREAS, Springfield Public School District 186 will be in need of property, casualty, and legal liability insurance for fiscal year 2024-2025; and
WHEREAS, the District requested Troxell, its insurance broker, to pursue renewal of the current property, casualty, and legal liability insurance for fiscal year 2025; and
WHEREAS, the District's insurance broker has recommended renewing the current property, casualty, and legal liability insurance program with Selective Insurance;
NOW THEREFORE BE IT RESOLVED that the Board of Education accepts the proposals of Selective Insurance for property, casualty, and legal liability insurance.
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Approvals:
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Recommended By:
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Signed By:
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Steve Miller - Director
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Signed By:
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Jennifer E. Gill - Superintendent
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Vote Results:
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| Original Motion | | Member Anthony Mares Moved, Member Sarah Blissett seconded to approve the Original motion 'WHEREAS, Springfield Public School District 186 will be in need of property, casualty, and legal liability insurance for fiscal year 2024-2025; and
WHEREAS, the District requested Troxell, its insurance broker, to pursue renewal of the current property, casualty, and legal liability insurance for fiscal year 2025; and
WHEREAS, the District's insurance broker has recommended renewing the current property, casualty, and legal liability insurance program with Selective Insurance;
NOW THEREFORE BE IT RESOLVED that the Board of Education accepts the proposals of Selective Insurance for property, casualty, and legal liability insurance.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Anthony Mares | Yes | | Micah Miller | Yes | | Sarah Blissett | Yes | | Buffy Lael-Wolf | Yes | | Erica Austin | Yes | | Ken Gilmore | Yes | | Debra Iams | Yes | |
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