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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 2023 -2024 |
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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 2023 - 2024 policy term to allow continued comprehensive coverage and services. The increase reflects our exposure changes. Also, at this time, there is no cyber coverage. CSDSIP continue to look for cyber coverage for the district. The proposed rates for Fiscal Year 2023 - 2024 are as follows:
Property $ 1,206,320
Equipment Breakdown $ 67,226
Crime $ 950; School Entity Liability $ 187,286
School Auto $ 94,243
Total Annual Contribution $ 1,556,025 |
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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 2023 - 2024 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 June 8, 2023 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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David Horner - Chief Financial Officer |
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Signed By: |
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Charlotte Macaluso - Superintendent |
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