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CFO outlines cost to buy down 1% hail and wind deductible to protect district management fund
Summary
The district’s chief financial officer recommended buying an insurance product to reduce exposure from a 1% hail/wind deductible tied to EMC renewal, citing potential strain on the management fund and pending legislative attention to fund caps.
At a regular Ames Community School District board meeting, the district’s chief financial officer reported on a proposal to reduce the district’s exposure under its EMC property insurance renewal and recommended purchasing coverage to buy down a 1% hail and wind deductible.
The CFO told the board that a proposed 1% deductible would apply to the total valuation of the district’s buildings, creating a sizable exposure.…
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