Schools Facing Insurance Costs as Kentucky Trust Disbands
The financially troubled Kentucky School Boards Insurance Trust will disband, forcing school districts to search for new providers of workers compensation, property and liability insurance policies.
The closure means financial consequences for all of the state’s 174 school districts, which will have to divvy up some $60 million to cover the cost of past insurance claims.
The decision was announced publicly Monday in Lexington after leaders in each school district were personally notified.
The Kentucky School Boards Association had turned the insurance program over to the Kentucky League of Cities to be administered about two years ago. KLC Executive Director Jonathan Steiner said Monday a financial review revealed the insurance program had fiscal woes that were worse than first believed, forcing the June 30 shutdown.
- Will California’s New Smoke Claims Law Create a Recovery Bottleneck?
- Goldman Sachs Ensnared in EY Data Breach Earlier This Year
- Anxiety Over Gas Prices Points to ‘Looming EV Comeback’ in US
- Before the Nuclear Verdict: Rethinking How Liability Claims Are Managed
- The Great Hemp Reset: How the Federal Ban on Intoxicating Hemp Products Will Reshape Risk and Coverage
- Londoners Find ‘Horrendous’ Cracks in Their Homes After Successive Heat Waves
- Are We Training Claims Adjusters or Claims Processors?
- New Corgi, Liberate, VERVE Claims Tech. Do We Need New Acronyms?