Lee's Summit R‑VII reviews MUSIC insurance renewal; district sees moderate premium uptick

Mr. Hall, the district’s insurance presenter, told the finance committee the Lee's Summit R‑VII renewal with the Missouri United School Insurance Council (MUSIC) reflects a “total increase was 6.4%,” with the premium portion closer to about 4% and an additional 2.4% attributable to payroll and property-value increases. He said about 49% of the district’s MUSIC payment goes into an escrow that covers the first $50,000 of each claim, and the district may receive refunds from that escrow after claims and reserves close.