Approve Purchase of Excess Workers' Compensation Insurance.

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.

N/A

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.