Consider/Approve Workers Compensation Excess Insurance Description: Priority #5: Optimize All Available Resources Excess workers’ compensation works to financially protect the self-insured employer for workers’ compensation claims that exceed the designated dollar limit.  Excess comp insurance covers all workers’ comp losses up to a specific dollar amount, which, for CFBISD, is $600,000. CBFISD is

Staff Report & Agenda Item Details

5.AA. Consider/Approve Workers Compensation Excess Insurance Description: Priority #5: Optimize All Available Resources Excess workers’ compensation works to financially protect the self-insured employer for workers’ compensation claims that exceed the designated dollar limit.  Excess comp insurance covers all workers’ comp losses up to a specific dollar amount, which, for CFBISD, is $600,000. CBFISD is self-funded for Workers Compensation coverage and claims are paid out of the Workers Compensation budget.  Once an individual claim reaches $600,000, the excess insurance policy covers all expenses beyond this amount. Local funds, not to exceed $300,000. Recommendation: It is recommended that the Board of Trustees approves the purchase of Excess Worker’s Compensation Insurance and authorizes the Superintendent or her designee to execute renewals and contracts in the best interest of the District.