School board authorizes insurance policy purchases

Friday, December 22, 2006

The Marshall Board of Education authorized staff Tuesday, Dec. 19, to purchase three insurance policies, one for auto coverage, one for property and liability and one for workers compensation.

The board accepted a bid of $29,864 from State Farm Insurance for auto coverage.

Deputy Superintendent Rick Radford said the bid was down nearly $5,000 from last year's because the district's driving record had been good.

The board accepted the sole bid for property and liability insurance, $75,795 from Naught-Naught Agency of Marshall.

The board also accepted an $84,518 bid from Meuschke Insurance of Marshall for workers compensation insurance.

The bid was a bit higher than the $80,741 bid from Liberty Mutual of Kansas City, but Radford said he thought the Liberty Mutual bid might have underestimated the district payroll and the district might run the risk of paying more at the end of the year.

Radford told the board he was working with insurance companies to get policy periods better synchronized with the district's budget cycle.

Currently, policies are often written for the calendar year, but the budget runs September to September. Changes in cost from one policy period to the next can then complicate budget projections.

Contact Eric Crump at marshallfaith@socket.net

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