Marysville School District
August 1, 2024
RE: Insurance Update and Information
On Tuesday, July 30, 2024, Superintendent Robbins and district staff representatives met with USI staff Katie Henry and Heidi Palmer. USI is the brokerage firm providing insurance and risk management services for the district. Ms. Henry and Ms. Palmer provided the district with a profile including an overview and quotes of insurance coverage options in several areas to include the following:
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The profile provided detailed information in each area including areas that will include a focus on policies, procedures, and training and support for district and school staff to assist in improving district-wide safety. In addition, providing the district with resources for best practices in handling L&I claims, cybersecurity, and claims management practices.
Quotes provided are within the district’s estimated budget for insurance coverage. The district’s annual expenses as a member of the Washington State Risk Management Pool (WSRMP) are approximately $2.3M. The district initially budgeted an additional $600,000 for insurance coverage. While USI is waiting on final quotes for auto (including buses) and property coverage, the quotes are close to the district’s budgeted amount.
The USI team further explained that they looked at a variety of options, including standard policies and self-insured options. The profile includes a menu of both options to provide the district and its schools with the best possible outcome. The companies providing coverage are rated A (Excellent) to A++ (Superior) by AM Best.
To date, the district has bound coverage in six of the areas and anticipates completion of the process within the next week.