Kennith Bargo 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