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Bentonville board says state law complication nearly would have raised insurance costs; senator intervened
Summary
Board members said a state law known as Act 560 created a captive property insurance option and that a later state interpretation appeared to add a penalty that could have reduced foundation funding by 9%; after the board sought help, Senator Bart Hester intervened and the district says it received a quote consistent with earlier estimates, avoiding a roughly $200,000 premium increase.
Board members at the Bentonville School District meeting on June 26 described a recent dispute over a state insurance law and credited Senator Bart Hester with intervening to avert a large cost increase.
A board member said Act 560 established a state captive property insurance program and that the district initially chose not to participate because the quoted premium increase for joining the captive would have been roughly $200,000 annually compared with about…
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