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Meeting Date:
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Category:
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Type:
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Subject:
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Contracts and Agreements: Colorado School Districts Self Insurance Pool
(CSDSIP) Renewal for Fiscal Year 2024 -2025 |
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Strategic Plan Alignment:
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Enclosure:
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File Attachment:
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Summary:
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Pueblo School District No. 60 participates in the Colorado School Districts Self Insurance Pool (CSDSIP) for comprehensive property and liability insurance coverage. CSDSIP focuses on the Colorado education market and partners with public K-12 school districts, BOCES and charter schools. As a member of the CSDSIP, the district has an investment interest in the pool which means the district pays a contribution, not a premium. Unlike an insurance company, in good years when losses are low and there is an operating surplus, the district will receive a dividend or contribution credit based on the surplus. The CSDSIP Board elected to not increase any base rates, all lines of coverage, for fiscal year 2024 - 2025 policy term to allow continued comprehensive coverage and services. The increase reflects our exposure changes. The proposed rates for Fiscal Year 2024 - 2025 are as follows:
Property $ 1,262,482
Equipment Breakdown $ 62,723
Crime $ 950
School Entity Liability $ 173,201
School Auto $ 101,243
Total Annual Contribution $1,600,599 |
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Funding:
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Recommendation
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The Board of Education approves the renewal of its property, crime, school entity liability and auto insurance coverage for Fiscal Year 2024 - 2025 with the Colorado School Districts Self Insurance Pool (CSDSIP) provided that in doing so, the Board is specifically reserving and does not waive any rights or claims that it may have against CSDSIP or others for prior occurrences, claims, coverage, or other issues as presented in the May 14, 2024 Board materials. |
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Approvals:
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Recommended By: |
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Signed By: |
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Christian Nyberg - Executive Assistant |
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Signed By: |
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Lana Niehans - Chief Financial Officer |
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Signed By: |
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Charlotte Macaluso - Superintendent |
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