Keller ISD board approves $5.27 million property and casualty insurance renewal

The Keller ISD Board of Trustees on Thursday approved the district's annual property and casualty insurance renewal, accepting the administration's recommendation to renew coverage for $5,274,601.

John, a finance staff member who presented the item, told the board applications were sent to more than 45 insurance markets and that the district's renewal rate increased by roughly 0.1 percent. He said the administration significantly raised the district's aggregate limit from $100 million to $200 million amid rising construction and replacement costs, and that the renewal date is July 1.

Trustees moved, seconded and voted to approve the recommended renewal; the motion passed 6–0. No member requested separate discussion. The administration said the renewal was lower than some earlier market expectations and that the district's ongoing roof replacement claims from the 2021 hail events — approaching $90 million — remain a factor underwriters considered.

The administration recommended the board approve the $5,274,601 property and casualty renewal to ensure coverage for the July 1 policy start date.