Sarasota County Schools
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