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Authorize Payment to Alliant Insurance Services, Inc., (Alliant) in Amount of $1,764,085.11 for Renewal of Districts’ Property Insurance Program for One-Year Period Effective October 1, 2026
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Summary
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Summary: The proposed property insurance program provides $250,000,000 in overall property coverage for the Districts’ insured property, with a total insured valuation of $828,609,271 and a $100,000 All Other Perils deductible. Alliant, the Districts’ insurance broker, marketed and restructured the program from separate property placements into a shared and layered program with 17 participating insurance carriers, as shown in the attachment. By spreading the combined insurance coverage in this way, more carriers were able to participate in the offering, spreading risk more broadly and providing for more competitive pricing. The all-inclusive annual cost is $1,764,085.11, representing an estimated annual savings of approximately $533,018 compared with the expiring program. This item is consistent with the Districts’ Guiding Principle of commitment to fiscal responsibility and prudent financial stewardship.
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