Parametric Named Storm Insurance Approved for 2026-27
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Description
Terrebonne Parish Council approved a 2026-27 parametric named storm insurance program with Fortegra Specialty Insurance Company and partners, providing up to $15 million in rapid storm payouts with a premium of up to $746,000 depending on option.
Contract Details
Contract Amount
$746,000 (Option D, for $15,000,000 limit), $531,000 (Option E), $435,000 (Option F); premium option chosen as of approval not specified, premium fully earned at inception
Vendor
FORTEGRA SPECIALTY INSURANCE COMPANY
Agency
Terrebonne Parish, LA
Contract Type
INSURANCE
Document Date
February 23, 2026
Contract Term
March 1, 2026 – March 1, 2027
Renewal Date
2027-03-01
Renewal Info
Proposal was non-binding indication, subject to execution and annual renewal as needed; coverage subject to annual procurement/market conditions.
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Terrebonne Parish Budget and Finance Committee Agenda Packet 2026-06-08
Terrebonne Parish Budget and Finance Committee Agenda Packet 2026-06-08
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