Board approves switch to Old Republic for liability and property coverage; rejects terrorism endorsement

The Tangipahoa Parish School Board approved a recommendation to change liability and auto coverage to Old Republic after staff shopped the market. Staff told the board the recommended package provided the same limits and coverages at a substantially lower premium than the district's incumbent carrier. A staff presenter said the combined premium savings were significant, and one presenter estimated savings in the mid six figures on layers of coverage. The board approved the motion after a second. The transcript records the motion carried; no roll-call tally was recorded. On property coverage, staff said the district previously had a per-campus deductible for named storms and negotiated a move to a per-building deductible this year. Staff said the district also secured a higher margin clause (an additional 15% over scheduled values) for building valuation scheduling. Staff recommended excluding a separate terrorism endorsement; the presenter said historically the district had declined that coverage and recommended continuing to exclude it. The terrorism endorsement cost was quoted in the meeting at $10,605. Board members asked about cyber insurance and the composition of the insurance panel; staff said Westchester remains the primary property market participant and that more detail on the panel was not available in the meeting packet. Staff also reported a $375,000 reduction in property premium and an improved deductible structure for named storms.