Title
APPROVAL OF THE LAW ENFORCEMENT LIABILITY INSURANCE RENEWAL EFFECTIVE JULY 1, 2024, THROUGH JULY 1, 2025
Description
Background
In 2018, in response to the requirements of the Marjory Stoneman Douglas High School Public Safety Act and for financial reasons, Sarasota County Schools started its own police force. Having a police force comes with unique risks that are not protected by Florida Statute 768.28 or Sovereign Immunity. After reviewing the liability exposure and risks, the district opted to purchase Law Enforcement Liability Insurance. In Fiscal Year 2024-2025, the district will have 59 School Resource Officers, 7 Sergeants, 2 Captains and 1 Chief.
Renewal
Indian Harbor Insurance Company will renew the same policy, (7/1/2024-7/1/2025) with no changes. The deductible is $25,000 and there is a $3 million per occurrence/aggregate policy. The new premium will be $76,460. This is a 17.66% increase over the expiring policy. The policy renewal increase is mostly due to the 15% increase in the number of officers.
Gap Analysis
This insurance renewal provides the appropriate insurance coverage to protect the district in the event of liability claims made against the district and district police officers while officers are performing their duties.
Previous Outcomes
This is a renewal of the current insurance policy.
Expected Outcomes
The insurance carrier will continue provide liability insurance coverage for the district police department.
Strategic Plan Goal
Pillar 4 - Every School Equipped
Priority 4.1 - Maintain Sustainable Financial Practices
Recommendation
That the agreement for the renewal of Law Enforcement Liability Insurance Policy be approved as presented.
Contact Information
LYNN PETERSON lynn.peterson@sarasotacountyschools.net
CHRIS RENOUF chris.renouf@sarasotacountyschools.net
Financial Impact
$76,460
Funding Source: Internal Service