DEPARTMENT: Pre-K 4 SA
DEPARTMENT HEAD: Kathy Bruck, CEO
SUBJECT:
East and West Education Center insurance coverage
SUMMARY:
Staff briefing and possible Board ratification of the recommended insurance company, Markel American Insurance Company, for Property, Casualty, Director and Officers insurance for the East and West Education Centers with a total premium of approximately $37,950.00 [Kathy Bruck, Pre-K 4 SA CEO]
BACKGROUND INFORMATION:
The Memorandum of Understanding (MOU) that Pre-K 4 SA maintains with the seven participating school district requires that Pre-K 4 SA uphold a third-party insurance policy to cover the following areas:
* Worker's Compensation
* Errors and Omissions
* Directors' and Officers' Liability
* Commercial General Liability
* Abuse & Molestation Liability
* Automobile Liability
* Program Consultants
* Excess Umbrella Liability
On April 8, 2013 Pre-K 4 SA entered into a contract with insurance broker McGriff, Seibels, and Williams. During the June 26, 2013 meeting, the Board approved for Pre-K 4 SA to purchase insurance from Markel American Insurance Company for the North and South Education Centers with a total premium of approximately $44,050.00. On August 9, 2014, the Board approved to continue to provide insurance coverage for the North and South Education Centers in the amount of $50,214.00
ISSUE:
Broker McGriff, Seibels, and Williams provided staff with a quote for insurance by Markel for the East and West Education Centers with a total premium of approximately $37,950.00. The package includes coverage for simplified commercial property, commercial, general liability, educators legal liability, hired/borrowed auto coverage, non-profit D&O liability, excess, liability coverage and student accident coverage, all of which meet the requirements as listed in the 2014-2015 MOU.
FISCAL IMPACT:
Funds in the amount of $37,950.00 are budgeted and available in the FY 2015 Pre-K ...
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