Sarasota County Schools
Agenda Item #23
Title
APPROVAL FOR RENEWAL OF THE PROPERTY INSURANCE PROGRAM EFFECTIVE MAY 1, 2016 THROUGH MAY 1, 2017
Description
The renewal will allow the district to increase the property policy limit from $100 million to $125 million, increase multiple policy coverage sub-limits, decrease the named storm deductible and continue to provide a Stand-Alone Terrorism Policy. The total annual cost [premium + regulatory + Stand-Alone Terrorism Policy] is $2,999,975. This represents a premium decrease of $169,695 or 6.92% from the existing program. Property insurance premiums are paid by the local Capital Improvement Fund.
Recommendation
That the property insurance renewal effective May 1, 2016 through May 1, 2017 be approved by the Board as presented.
Contact
WHITE & CORCORAN/PETERSON
Financial Impact
N/A
Attachment: Property Renewal 05_01_16 Memo with Attachments.pdf