Board Report August 2024

Insurance A standard and important component of any risk management plan is a quality insurance program. Some of this is actually mandated by law and the goal of the program is to spread the financial risk of claims, particularly catastrophic claims. Insurance purchased by the District includes catastrophic student accident insurance, workers compensation insurance, school board legal liability insuran ce, treasurer’s bond insurance, and appropriate property and casualty insurance. Student Accident The District tries to prevent student accidents and maintain a safe place for students to attend classes and participate in extra-curricular school activities. However, student accident reports document that accidents still occur. The District does not purchase student accident coverage but encourages parents to maintain such coverage. To help parents find such coverage, the District coordinates with an insurance company to make a general student accident policy available between the parent and the insurance company. Students participating in sports or special extra-curricular activities that present greater than average risk of accident are required to have accident insurance. Examples of this kind of activity include football, other sports, and outdoor education programs. The state recently mandated school districts to provide catastrophic student accident insurance. In reviewing catastrophic coverage options available to parents, the District determined it was appropriate for it to directly purchase such catastrophic coverage for all secondary students in all sports and school activities. The District annually considers purchasing specific insurance coverage for all student accidents but given data on such accidents and the appropriate allocation of risk, the District has chosen to keep such coverage the responsibility of parents and guardians. Workers Compensation Accident reports document that despite District efforts at training staff, providing accident prevention equipment such as non-slip shoes and equipment, redesigning work procedures and otherwise taking steps to avoid accidents, that employees occasionally are injured in accidents. Workers compensation insurance provides a safety net to pay expenses for work related accidents involving District employees. Additional benefits of this coverage are accident prevention materials and training, analysis of risk, management of claims, and recommendations to manage risk from the insurance carrier and their professional safety representatives. In evaluating risk, the District considers the various services and activities District employees are engaged in, including driving vehicles and providing professional, clerical and cafeteria services as well as the Districts safety record and claims experience. The District incurs administrative costs to properly supervise and monitor workers compensation claims, including reporting. Liability Insurance The District operates safety programs not just for students and employees but also to protect the public. However, all accidents cannot be prevented and the District maintains adequate levels of liability insurance to provide a safety net against accidents to those using or visiting the public schools and grounds of the District. The District carries several kinds of liability insurance

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