The Blackford School Board received some good news, and some not so welcomed news about the school corporation’s insurance costs during last week’s regular board meeting.
Angela Smith, with Smith Insurance, told the board that the school system’s premiums have been decreasing over the years, and that the corporation should expect to see a 1.07 percent decrease in cost when it renews its policy on Jan. 7.
“But the bad news…” Smith reported, was that school officials would see Workman’s Compensation costs go up about $5,000.
Smith said that was a direct result of three claims the corporation paid this year, resulting in a 259 percent loss ratio.
“That resulted in a loss of points,” Smith said.
Smith clarified that it was just one of the three claims that had the biggest impact on the insurance costs.
Board member Jess Huggins asked whether there was anything the school system should be doing differently or could have done differently that might have prevented any of those claims.
“I can’t say that there is anything you are doing wrong,” Smith said. “I don’t know of anything you can do (differently.)”
And she said pointed out that three claims in one school year not a high number of claims, considering the size of the school system.
“Just three claims with as many employees… is just outstanding,” Smith commented.
Assistant Supt. Greg Elkins said Blackford Schools employed close to 250 people, which included substitutes and part time employees.
Smith said the other good news was that Workman Comp rates in Indiana were expected to be going down next year.