05-26-2015 Special School Board Meeting
Agenda Item #39


Title
School Board's Casualty Insurance Policy Renewal

Discussion

The School Board’s casualty insurance policies are set to expire on June 30, 2015.  We are currently negotiating new policies to replace the expiring policies.  We anticipate negotiations for these policies will be completed before the June 9, 2015 Board meeting, but pricing is unknown at this time.  In addition to our regular policies for excess General Liability, Auto Liability, Workers’ Compensation, Fidelity/Crime, and Catastrophic Student Accident insurance, we are also getting quotes for a Cyber Liability policy.  During the 2014-15 fiscal year, the total paid for casualty insurance was $577,910.  We anticipate renewal pricing for the 2015-16 fiscal year will vary from a low of $595,875 to a high of $665,760.  Once the policies are fully negotiated, we will bring  final pricing and terms including deductibles to the Board for consideration. 



Recommendation
To grant the Superintendent authority to bind the School Board’s Casualty insurance policies once all pricing and terms are finalized.

Meeting Date(s)
Information - 5/26/2015
Consent after Information6/9/2015

Authority for Action
Board Policy 8710

Involves Expenditure of Funds Directly in the Classroom
No

Source of Funding
Operating - Other

FY
Amount
Budgeted
Fund
Cost Center
Project
Function
Object
Program
15/16UndeterminedYes10098550011647900323000
15/16UndeterminedYes10098550011647900324000
15/16UndeterminedYes71398550010027760779000

Contact
Mark Langdorf, Director of Risk Management, Ext. 620
Judy Preston, Associate Superintendent of Financial Services, Ext. 600


Attachment:  2015-16 Casualty Insurance Cost Projection.pdf