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Human Resources
Action Item
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DATE: Tuesday, June 7, 2005
TO: School Board Members
FROM: Earl J. Lennard, Superintendent
SUBJECT / RECOMMENDATIONS
Approve Purchase of Excess Workers' Compensation Insurance.
EXECUTIVE SUMMARY
The School District is self-insured for Workers’ Compensation and Liability claims. Each year, Excess Workers’ Compensation insurance is purchased in order to protect the School District’s self-insured fund from individual catastrophic claims. This coverage is provided by CNA Insurance and pays amounts in excess of $500,000 per claim. 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 .1104 per $100 of estimated payroll. This renewal represents no increase in the rate for a second consecutive year. The increase in premium is the result of increased payroll on which the premium is based.
ANNUAL DISTRICT GOAL(S) AND CRITICAL SUCCESS FACTOR(S)
N/A
FINANCIAL IMPACT (Budgeted: Yes)
Excess Workers’ Compensation Insurance is $821,643--reflecting an increase of $43,895 to be paid from the District’s Self-Insured Workers’ Compensation Fund.
EVALUATION
SUBMITTED BY:
Richard M. Martinez
General Manager, Employee Relations & Benefits
(813) 272-4227
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Daniel J. Valdez
Chief Officer for Human Resources
(813) 272-4166
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3.03
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Hillsborough County Public Schools (Florida) * Mtg.#20050607_144 * Section E Item# 3.03
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