The Thomaston-Upson Board of Education approved McGriff Insurance of Thomaston to continue as the board’s insurance carrier for another year during the Jan. 20 special called meeting.
McGriff Representative Scott Boatright remotely attended the meeting, providing the board with a breakdown of the premium summary, which includes an increase of 8.1 percent year over year, or $50,000.
Most of the increase comes from a 50 percent hike in automobile coverage, stemming from two bus-related claims. The other portion comes from an increase in property value, which has risen 22 percent year over year, according to Boatright, who attributed the increase to inflation.
Boatright said the carriers remain Selective and Amerisure Insurance and that the renewal rate was better than it would be if he went back to the marketplace.
Vice Chairman Jay Eubanks asked if Boatright was happy with the cyber liability insurance, which Boatright says is up based on the marketplace.
“It’s a difficult line of business,” commented Boatright. “We had large concerns when it came to cyber… The coverage we have through [Cincinnati Financial Insurance Corporation] is as good as we can buy in the marketplace. Our cyber coverage is top notch.”
The unanimous approval of McGriff Insurance to continue as the board’s insurance carrier followed the recommendation of Superintendent Dr. Larry Derico and staff.
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