Vermilion Parish School Board has trouble finding property insurance

Homeowners of Vermilion Parish can relate to the problems of the Vermilion Parish School Board when finding insurance for the school district’s buildings.
The school district hired the company, Arthur Gallagher, to find companies to ensure the school district’s vehicles, like buses and trucks, along with buildings and schools.
Getting quotes for vehicles and flood insurance was the easy part, said Marrian Laughlin of Arthur Gallagher. However, finding an insurance company to insure the school district’s buildings takes more work.
“It turns out we (school district) are in a high wind, high-risk area,” Eric Johnson, the school district’s chief financial officer, told the school board members last week. “It is difficult (to find insurance). We have everything but our property insurance.”
The school district paid $1.3 million for property insurance two years ago. Last year it increased to $1.9 million.
This year? Who knows, said Johnson.
“I do not know what it will be this year,” said Johnson. “Arthur Gallagher is a big firm, and they are struggling to get us some insurance.”
The school district’s property insurance runs out at the end of March. Despite the cost, the school board gave Superintendent Tommy Byler the authority to approve property insurance premiums.
“We must have insurance,” said school board member Kibbie Pillette.
Laughlin said if Arthur Gallegher can only find property insurance after the end of April, it will seek an extension of 30 days with the present insurance company.
She explained to the school board that the board might have to increase the deduction for wind coverage.