KSBIT

Education
4:58 pm
Thu May 2, 2013

Insurance Penalties Loom for Kentucky School Districts

Credit newgre.org

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.

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  based on premiums, and 40 percent based on that school district’s past claims.

The insurance program was attractive to districts due to its low premium costs in worker’s comp and liability coverages.

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Education
8:25 am
Tue January 15, 2013

KSBIT To Disband By The End of Summer

Credit mspmentor.net

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. 

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Education
4:23 pm
Mon January 14, 2013

KSBIT Members Facing Assessment for $60M Deficit

Credit mspmentor.net

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.

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