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Board hears workers' compensation renewal options; staff to revisit in October
Summary
An insurance agent reviewed workers' compensation renewal options for Hancock County School District, reporting an increased experience modifier and a modest overall premium uptick; board members asked to have the item returned for decision at the October meeting.
At the Sept. 4 Hancock County Board of Education meeting, an insurance representative briefed the board on workers' compensation renewal options ahead of an Oct. 1 policy effective date.
The presenter said the district's experience modification rose from 0.99 to 1.11 and reported expiring premium figures and renewal offers ("expiring at a 122,370" and an Eastern Advantage renewal offer of $123,504). He described payroll exposure adjustments—moving to a projected payroll of about $26,500,000—and said the net year‑over‑year change would be small ("we're looking at a $1,134 increase"). The agent expressed confidence in Eastern Advantage's claims service and recommended remaining with Eastern unless a materially lower bid (5–10% savings) justified a carrier change.
Board members discussed timing and asked that the insurance renewal be returned to the board for consideration at the October meeting so the board could act before the Oct. 1 effective date.
