Managing the risks inherent in a building project presents a challenge and opportunities not often encountered in the ordinary affairs of a school district. A building project brings the district, its staff, and students, as well as the community, in close contact with architects and engineers and a number of contractors for a period of time often…

For years, people have been taught that maintaining liquidity of assets, particularly at retirement, is beneficial. One's liquidity, that is, monies he/she controls and has ready access to for discretionary withdrawals, translates into uncertainty to the company holding those assets because they can be withdrawn at any time. If one can increase a…

For public school districts, risk financing is the financial outlay associated with litigation, such as settlements, verdicts, and the cost of legal defense. Even when districts purchase insurance to finance risk, a viable risk transfer program can still benefit districts in different ways: (1) Liability policies are generally experience-rated;…

There are many ways a school district can reduce the cost of insuring employees, equipment, and buildings. (Author/MLF)

In some ways, education institutions are like any other business when it comes to insurance coverage. Property could be damaged, accidents may be blamed on negligence, and employees may be injured during the course of the workday. Traveling sports teams, field trips, and transportation responsibilities increase the possibility that something will…

Describes the New York School Insurance Reciprocal (NYSIR) wherein 280 school districts in New York insure one another against property damage and injury. NYSIR member districts pay considerably less in premiums than they would pay through standard insurance companies. (PKP)

School districts can expect to see significant increases in insurance renewal premiums. Advice is offered on safety and loss control procedures, dealing with an insurance broker, and bidding for insurance coverage. (MLF)

A public entity facing an environmental cleanup can take certain measures to dramatically increase its chance of coverage. Argues that many comprehensive general-liability insurance policies have coverage if the pollution is "sudden and accidental." (MLF)

Presents the options available in risk management insurance and group health insurance programs, while outlining recent changes in the industry and their effects on school risk management programs. (MD)

Historically, the insurance industry has been cyclical in price and the types of risks it will insure. Schools should carefully consider developing long-term relationships with companies committed to school bus insurance. Buyers can exchange information with their insurers to improve their risks. (MLF)

Discusses seven propositions underlying the strategies that insurance pools can, will, and must pursue: (1) risk management versus risk financing; (2) elimination of windfall advantages; (3) the maintenance of market-dominant status; (4) cost leadership; (5) client focus; (6) innovation and diversification; and (7) leadership challenges. A sidebar…

Changes in the insurance market combined with reduction in financial support make it an ideal time for educators to look at alternative approaches to purchasing insurance. The advantages and disadvantages of three approaches are analyzed. Net bidding is the most effective. (MD)

Defines insurance pools while outlining the purpose, establishment, and coverages involved through insurance pools. Includes a discussion of 10 reasons for the success and failure of insurance pools. (MD)

School business officials should realize that achieving the Government Finance Officers Association's Certificate of Excellence in Financial Reporting will not always result in a high rating. Washington, D.C. has received this award for several years while flirting with bankruptcy. This article reviews the workings of financial markets for…

Describes the New York Schools Insurance Reciprocal (NYSIR), which provides both property and liability coverage for school districts. A reciprocal is wholly owned by those insured. NYSIR insures 55 school district subscribers, providing a service that specifically accommodates school district needs and saves them money. (MLF)