KSBIT http://wkms.org en Insurance Penalties Loom for Kentucky School Districts http://wkms.org/post/insurance-penalties-loom-kentucky-school-districts <p></p><p>Area schools are being hit with hundreds of thousands of dollars in penalties, in the wake of the dissolution of the Kentucky School Boards Insurance Trust, or KSBIT.</p><p>The penalty payments are intended to fix a $60 million deficit in KSBIT's worker’s compensation and property and liability pools. The penalty amount is 60 percent&nbsp; based on premiums, and 40 percent based on that school district’s past claims.</p><p>The insurance program was attractive to districts due to its low premium costs in worker’s comp and liability coverages.</p><p> Thu, 02 May 2013 21:58:39 +0000 John Null 31340 at http://wkms.org Insurance Penalties Loom for Kentucky School Districts KSBIT To Disband By The End of Summer http://wkms.org/post/ksbit-disband-end-summer <p></p><p>The financially troubled Kentucky School Boards Insurance Trust, or KSBIT will disband this summer, meaning school districts will have to find new providers for workers compensation, property and liability insurance policies.&nbsp; Tue, 15 Jan 2013 14:25:12 +0000 John Walker & The Associated Press 26784 at http://wkms.org KSBIT To Disband By The End of Summer KSBIT Members Facing Assessment for $60M Deficit http://wkms.org/post/ksbit-members-facing-assessment-60m-deficit <p></p><p>Past and present Kentucky School Board Insurance Trust members need to pay an assessment to fix a $60-million deficit in its worker’s compensation and property and liability pools. KSBIT protects school districts from incidents ranging from employee injuries to school bus accidents.</p><p> Mon, 14 Jan 2013 22:23:23 +0000 Whitney Jones 26766 at http://wkms.org KSBIT Members Facing Assessment for $60M Deficit