Human Resources
Action Item |
DATE: | Tuesday, January 20, 2015 |
TO: | School Board Members |
FROM: | MaryEllen Elia, Superintendent |
SUBJECT / RECOMMENDATIONS | |
Approve AIG Insurance Group Offer | |
EXECUTIVE SUMMARY | |
AIG Insurance group has extended an offer of $6,250,000 for our 1991-1998 excess workers' compensation claims that remain open. The total premium cost for these years was $1,028,978. Collected totals equal $4,596,657. Attachment A provides a list of SIR for various dates as well as a description of the evaluation of the AIG offer. Attachment B is the Policy Buy Back Agreement. | |
STRATEGIC OBJECTIVES | |
• Align financial resources to support the districts strategic goals • Demonstrate best financial practices | |
FINANCIAL IMPACT (Budgeted: Yes) | |
Anticipated savings of $750,000 - $1,000,000 based on the difference between the claim reserves and the AIG Buyout Offer. | |
EVALUATION | |
N/A | |
SUBMITTED BY: |
Glen A. Lathers | Stephanie F. Woodford | |
Manager of Risk Management & Safety (813) 872-5263 |
Chief Human Resources Officer (813) 272-4166 |
|
A 4.08 | ||
Hillsborough County Public Schools (Florida) * Mtg.#20150120_682 (Board Meeting) * Section A Item# 4.08 |