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Nevada CSD joins statewide storm protection fund to limit catastrophic deductible risk
Summary
The Nevada Community School District voted to join a newly created Storm Protection Fund (SPF) that pools contributions from Iowa school districts to buy down catastrophic wind/hail deductibles; initial assessed contribution for Nevada was presented as $42,003.83 for the first year.
The Nevada Community School District Board on June 16 voted to participate in the new statewide Storm Protection Fund (SPF), a consortium designed to spread catastrophic wind and hail deductible risk across participating Iowa school districts.
Melissa Johnson of Midwest Insurance explained the SPF concept to the board: instead of each district purchasing an expensive deductible buy‑down individually, participating districts contribute to a pooled fund that can be used to cover large 1% wind/hail deductibles. Johnson said the district’s share for the first year would be…
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