School Boards Insurance Trust To Disband

{Lexington, Kentucky}…Officials announced Monday in Lexington that the financially troubled Kentucky School Boards Insurance Trust will disband on June 30th, forcing school districts to search for new providers of workers compensation, property and liability insurance policies. The Kentucky School Boards Association had turned the insurance program over to the Kentucky League of Cities about two years ago. KLC Executive Director Jonathan Steiner says a financial review revealed the insurance program had fiscal woes that were worse than first believed. The closure means financial consequences for all of the state's 174 school districts, which will have to come up with some $60 million to cover the cost of past insurance claims.