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Board approves liability and workers’ compensation renewal; staff continuing property-market review
Summary
The board approved renewal of liability and workers’ compensation insurance lines with broker M3 and accepted a gross premium estimate; property coverage proposals remain under review and will return to the board at a later meeting.
The Pewaukee School District Board approved renewal of the district’s liability and workers’ compensation insurance package through broker M3, covering general liability, employee-benefits liability, violent-event liability, auto liability, public-officials and employment-practices liability, umbrella coverage, environmental liability, workers’ compensation, cyber liability and identity-fraud coverage.
Staff reported a gross premium around $255,569 (presentation referenced $256,130 gross before a potential dividend). The proposal includes a 15% dividend provision payable at the end of the policy term upon audit and adjustment of payroll-related premiums; staff explained workers’ compensation premiums are based on payroll amounts and state-set classification rates, and the final premium will be adjusted following the annual audit. Board members asked questions about how the dividend is calculated and what payroll means for insurance purposes; staff responded the dividend is calculated on the audited premium and that workers’ compensation rates are applied to payroll in statutory categories.
Property coverage renewals were being pursued separately and staff said property options were still under evaluation; property renewal proposals were expected to return to the board at the June 23 meeting. The liability renewal motion passed; transcript records board approval and at least one abstention on other agenda items but a named roll-call of the insurance vote is not provided in the transcript.
