Councilman Boucher on City Insurance: There Will Be More Oversight [VIDEO]
Shreveport City Councilman Grayson Boucher talks with 101.7 / 710 KEEL's Robert J Wright and Erin McCarty about the latest twist in the insurance scandal, including the latest news of an increase in the city's property coverage to $300 million.
Boucher tells KEEL listeners that he, and other council members, received an email from the Shreveport Chief Administrative Officer Sherricka Fields Jones informing them that the city's coverage, which had decreased from $700 million to only $50 million under a new policy, has now been boosted to $300 million.
Background from KEEL news:
"Shreveport is facing a major insurance crisis. Currently the city has only $50 million dollars in property coverage. Last year, we had $800 million dollars in coverage.
Mayor Adrian Perkins decided to change companies shortly after taking office. His goal, as he explained earlier this year was to lower costs and bring in more minority participation. We are finding out this new policy with the Frost Company will actually cost substantially more for far less coverage.'
"The council held a special meeting to discuss the insurance issue and they voted to call on the administration to find additional coverage as soon as possible. The group also voted against paying the full commission of $250,000 to the Frost Company and its agent, Roddrelle Sykes."
CAO Jones maintains that she had been informed that the new policy equaled the city's previous property coverage.