HCPS FL Logo 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