broke_bankThe Lexington Herald-Leader (LHL) reports that the Kentucky School Board Insurance Trust (KSBIT) ,whose workers’ compensation fund is running a $4.5 million deficit, is in talks with the Kentucky League of Cities (KLC) about the possibility of merger with KLC’s insurance arm.

KSBIT is an insurance pool affiliated with the Kentucky School Board Association (KSBA) and is charged with providing insurance to school districts for a variety of associated risks, which includes providing workers’ compensation insurance.  The workers’ compensation pool is the major problem contributing to  KSBA’s insurance woes according to the state insurance department. The statement Department of Insurance  has yet to approve any new plan between KLC and KSBIT. 

Read the LHL article here.

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