ITEM NUMBER: 6.E.
School Board Regular Meeting
- Meeting Date:
- 06/20/2022
- Prepared By:
- Tom Sager
Item Type:
Subject:
2022-23 Workers Compensation Insurance Plan
Background:
Quotes were received for the 2022-2023 Workers Compensation Insurance. The quote by SFM Insurance is $465,142 and is part of the insurance package with Property and Liability Insurance. The 2021-22 premium for Workers Compensation was $477,337. This insurance is bundled with the district's property & liability insurance. The total package will experience an increase of 6.6 percent as compared to the 2021-22 rates. Much of this increase is related to the addition of recently purchased property at 15 Map Drive and updated district property values for replacement costs. This also represents an average annual increase of 2.1 percent over the past two renewal cycles.
Recommended Action:
The administration recommends approval of the Workers Compensation program with SFM Insurance for the 2022-23 school year.