SAYBROOK — Ashtabula Area City Schools hosted a special meeting Wednesday to approve insurance renewals for a variety of policies for 2024.
Mark Astorino, AACS treasurer, said he was disappointed by the rise in premiums, which increased by about $100,000 to $344,745.
This increase was driven by a $21.1 million increase in property values due to inflation adjustments for replacement costs.
He said the district may want to consider completing an independent assessment of district property.
“We did this five years ago and seven years ago,” Astorino said.
It is hoped the assessment will reduce the amount the district has to pay, he said.
Over the past several years, the district has paid a number of liability claims on its own.
There have also been some significant claims in the past few years, Astorino said.
Board member Donald Rabus said insurance rates in general have risen.
“My car insurance had gone up. I called and said, ‘I don’t have any claims.’ They said because inflation on parts and repairs had gone up, all the prices had gone up,” he said.
Board member Bill Niemi said when he joined the board, rates were much lower.
The district will also seek professional development for administrators on legal best practices, Astorino said.
“They will address various topics that may be related to school operations and compliance,” he said.
If the cost of everything else goes up, the cost of insurance will go up, said Chairman Scott Jupp.
According to the memo, the district’s fleet of vehicles increased by eight vehicles, which also caused an increase in prices.
The council approved the renewal.