Board Agenda - March 21, 2006

1. #3455, Student voluntary accident insurance and catastrophic athletic insurance

Presenter: Danny Modisette

Purpose: A - Request decision - closure required

Time: No time limit

Description:

As provided by Policy FFD(Legal), the district purchases catastrophic athletic insurance to provide coverage for students injured as a result of participation in all sports from grade seven through twelve including cheerleading, drill team and marching band. Due to the serious nature of potential catastrophic sports injuries and rising costs of health care, we feel it is very important to maintain this coverage. Jon Crook, CLU, ChFC, through National Union Fire Insurance, presented us with a quote that will reduce the annual cost by 15%. This coverage mirrors the present coverage with a $25,000 deductible, a 10-year maximum payout of up to $5,000,000, a lump sum payment after six months and $40,000 per year if disabled. Death and dismemberment coverage is scheduled from $10,000 to $20,000. Mr. Crook also presented a quote for the voluntary football and/or voluntary school insurance through Markel Insurance Company. This coverage is not a district expense, as it is purchased by parents only. We periodically quote this product to ensure that parents are receiving a quality product at the most cost effective price. Therefore, we are recommending Jon Crook as the agent/broker for catastrophic coverage, underwritten by National Union Fire Insurance, and Markel Insurance Company for voluntary football and regular student insurance coverage.

Recommendation:

To approve Jon Crook as the agent/broker for catastrophic coverage, underwritten by National Union Fire Insurance and Markel Insurance Company for voluntary football and regular student insurance coverage for the 2006-2007 school year.

Business Impact:

Catastrophic athletic coverage will be included in the 2006-2007 budget.

Summary:

Appendix:

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