Internal audit shows City of Shreveport is drastically underinsured

Shreveport is drastically underinsured, audit finds

SHREVEPORT, LA (KSLA) - The preliminary findings of an internal audit given to Shreveport City Council today show the city is drastically underinsured.

Now City Council members want Mayor Adrian Perkins to find more insurance.

The findings come just months after Perkins changed the city’s insurance carriers.

The prior carrier covered the entire $815 million worth of property and assets owned by the city.

On Monday, City Council members found out the new insurance only insures $50 million and charges a higher premium.

That could be bad news if a natural disaster such as a tornado or fire damages the Convention Center, Shreveport Regional Airport, Independence Stadium or any other city-owned property valued at more than $50 million.

“If you watched “War Games,” we’re at DEFCON 2. DEFCON 1 is the worst. We’re at DEFCON 2," District D Councilman Grayson Boucher said.

“I hope the administration moves quickly to get us the insurance we need. I think the council was all together on that,” he continued.

"These buildings don’t belong to us. They belong to the citizens of Shreveport. We are elected to be good stewards of that money. And, in my opinion, this was not a representation of good stewardship.”

Perkins was out of town Monday.

KSLA News 12 will bring you more details when the internal auditor releases a full report in a few weeks.

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