DEPARTMENT: Pre-K 4 SA
DEPARTMENT HEAD: Kathy Bruck, CEO
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Insurance for Education Centers
SUMMARY:
This item requests Board consideration to ratify the purchase of Directors and Officers Liability Coverage in an amount exceeding the previously approved total cost of $100,000.00 for annual insurance premiums with an actual cost of $105,558.00.
BACKGROUND INFORMATION:
During the May 19, 2015 meeting, the Board of Directors approved for Pre-K 4 SA to purchase from the recommended insurance company, Markel American Insurance Company, insurance for Property, Casualty, and Directors and Officers insurance for the four Education Centers with a total premium of approximately $100,000.00. Actual property values, the number of expected students, and an increase in the budget resulted in a higher than expected cost for Directors and Officers Liability Coverage. The total annual premium to include all required forms of insurance is $105,558.00.
ISSUE:
In order to ensure that Pre-K 4 SA insurance coverage remained intact for the upcoming school year, Pre-K 4 SA accepted the insurance quote and purchased the coverage. This item requests Board consideration to ratify the additional $5,558.00 for the annual premium of insurance coverage.
ALTERNATIVES:
Pre-K 4 SA is required by the MOU with participating ISDs to maintain insurance coverage in the following areas:
* Worker's Compensation (provided by the City of San Antonio)
* Errors and Omissions
* Directors' and Officers' Liability
* Commercial General Liability
* Abuse & Molestation Liability
* Automobile Liability (Hired & Non-Owned Only)
* Program Consultants
* Excess Umbrella Liability
* Student Accident Insurance
FISCAL IMPACT:
Funds for insurance coverage are budgeted and available in the FY 2016 Pre-K 4 SA Operating Fund as approved by the Pre-K 4 SA Board of Directors.
RECOMMENDATION:
Staff recomme...
Click here for full text