Mountain View Whisman School District

Agenda Item for Board Meeting of 5/16/2019

Agenda Category:  CONSENT AGENDA

Agenda Item Title:  Resolution No. 01-051619 to Rescind Notice of Withdrawal from Schools Excess Liability Fund (SELF)

Estimated Time: 

Person Responsible:  Ron Wheelehan, Interim Chief Business Officer

Background: 
South Bay Area Schools Insurance Authority (SBASIA) Excess Liability coverage for claims over $5 million is currently placed with the Schools Excess Liability Fund (SELF).   SBASIA and its members had given notice of withdrawal to SELF in order to market the Excess Liability coverage to insure the most competitive rate. Multiple markets (a total of 14) were approached, but SELF remains the most competitive option and SBASIA is rescinding its notice of withdrawal effective July 1, 2019.

Fiscal Implication:
Our premium for excess liability coverage for 2019-2020 will increase $7,683.

Recommended Action: 
That the Board of Trustees approve Resolution No. 01-051619  to Rescind Notice of Withdrawal from Schools Excess Liability Fund (SELF).