Tuesday, April 16, 2019 … 10:53 A.M.

It is something too few of us know about Shreveport City Hall, to which I can personally attest: when Leanis Steward, the city’s (Internal) Auditor, sounds an alarm – any alarm – it is time for other city officials to listen and respond.

Thus, it is more than merely notable that Mayor Adrian Perkins failed to attend yesterday’s Special Meeting of the Shreveport City Council, convened to discuss Ms. Steward’s alarm about our city’s shocking and scary lack of insurance.

The Auditor notes that Shreveport has $815 million worth of insurable assets – think of our $92 million Independence Stadium, $85 million Convention Center, $55 million Hilton Hotel, etc. – but only $50 million in insurance coverage.

Yes … $815,000,000 in assets and $50,000,000 in coverage.

In 2018, when Arthur J. Gallagher & Co. still handled Shreveport’s insurance, we paid $555,000 in premiums to insure ALL $815,000,000 in assets.

Now, with Perkins’ pick, Frost Insurance of Dallas, handling our insurance, the city pays $745,000 in premiums, insuring only $50,000,000 in city assets.

Yes … Shreveport is paying just under $200,000 per year MORE in insurance premiums to insure only 6% of city assets.

Some may remember, as I and others have reported, that Perkins infamously dumped Gallagher for Frost the day BEFORE he was sworn into office. On point for Frost, in context, is Rod Sykes.

Sykes is said to be the first cousin of Joshua Williams. Williams is Mayor Perkins’ close friend, was his campaign manager, and is also a Caddo Parish Assistant District Attorney.

So, Shreveport’s mayor rendered uninsured – by his own, direct action – almost all of the city’s assets for (at least) his first 3½-months in office.

He did so for the worst of reasons … just in case anyone responsible to do so would like to fully investigate / prosecute this fiasco.

Please note related links to subject media reports, below.

© 2019 Elliott Stonecipher … ALL RIGHTS RESERVED

1. KSLA News report, Melissa Kakareka, April 15, 2019:…/internal-audit-shows-city-shreveport…/

2. KTAL News report, Marquel Sennet, April 15, 2019:…/internal-audi…/1928987611

3. KTBS News Report, Gerry May, April 16, 2019:…/article_21917462-5fe0-11e9-ab11-cf01…

4. KTBS News Report, Gerry May, February 26, 2019:…/article_9481e3bc-3a33-11e9-a93a-ff2d…

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