Hillsborough County Public Schools Human Resources
Action Item

DATE: Tuesday, July 11, 2006
TO: School Board Members
FROM: MaryEllen Elia, Superintendent

SUBJECT / RECOMMENDATIONS

Approve Purchase of Excess Worker’s Compensation Insurance.

EXECUTIVE SUMMARY

The School District is self-insured for Worker’s Compensation and Liability Claims. Each year, Excess Worker’s Compensation insurance is purchased to protect the School District’s self-insured fund from individual catastrophic claims. This coverage is provided by State National Insurance and pays amounts in excess of $500,000 per claim. In addition, this policy provides General Liability covered in the amount of $1,000,000 with $1,000,000 self insured retention (SIR). Exhibit A outlines deductible and premium history, and a cost comparison of quotes is outlined in Exhibit B. The quote for coverage is based on a fixed premium of $696,875.

ANNUAL DISTRICT GOAL(S) AND CRITICAL SUCCESS FACTOR(S)

N/A

FINANCIAL IMPACT (Budgeted: Yes)

Excess Worker’s Compensation Insurance is $696,875 -- reflecting an estimated reduction of $124,768 to be paid from the District’s Self-Insured Workers’ Compensation Fund.

EVALUATION

SUBMITTED BY: Glen A. Lathers, Manager of Safety and Risk Management

Glen A. Lathers
Manager of Safety and Risk Management
872-5263
Daniel J. Valdez
Deputy Superintendent
272-4166
3.05
Hillsborough County Public Schools (Florida) * Mtg.#20060711_179 * Section E Item# 3.05