e|agenda.NET Sarasota County Schools |
THE SCHOOL BOARD OF SARASOTA COUNTY, FLORIDA Landings Administrative Complex 1980 Landings Blvd. 6:30 p.m. |
Agenda Item #12 Title APPROVAL FOR RENEWAL OF THE PROPERTY INSURANCE PROGRAM EFFECTIVE MAY 1, 2018 THROUGH MAY 1, 2019 Description The renewal will allow the district to remain at the $125 million policy limit, increase the flood limits, multiple sub-limits and lower the deductible and the named storm deductible cap and continue to provide a Stand-Alone Terrorism policy. The total annual cost [premium + fees + Stand-Alone terrorism policy] is $2,378,861.00. This represents a property policy rate decrease of 4.62% and a 3.25% terrorism rate decrease. The overall premium decrease will be $5,246. Recommendation That the property insurance renewal effective May 1, 2018 through May 1, 2019 be approved by the Board as presented. Contact LEMPE & SPRINKLE/PETERSON Financial Impact N/A Attachment: Property Renewal 05_01_18 with attachments.pdf |