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May 2016

KASB Work Comp Board approves 8 percent rate reduction, dividend payments to members


An 8 percent rate reduction and approval of a plan to issue $300,000 in dividends to Kansas schools are among the decisions recently made by the board of trustees of the KASB Workers Compensation Fund. Inc.

“There is no better evidence of a fiscally strong pool than dividends and rate reductions,” said Rod Spangler, KASB Director of Insurance Services. “These two things just happened with the KASB Work Comp Fund.”

 The Fund was established by the school board association in 1987 and currently serves 111 KASB member organizations. 

The Fund is administered by KASB with an in-house claims department, and is governed by a separate Board of Trustees composed of locally-elected board of education members. No eligible member has ever been denied coverage, nor has any member been non-renewed due to excessive losses.

The Fund operates solely for the benefit of KASB members and is designed to return favorable operating results to members through dividends or a reduction in future premium costs. Based on the health of the insurance pool, the board of trustees approved a rate reduction for all current and new members for the 2016-17 Fund Year and the dividend payment plan for 1989-90 and 1991-92 during its April meeting.

This is the third time in the KASB Work Comp Fund’s history dividends have been authorized. Work Comp Fund members who will receive dividends will be notified in writing in the near future. The amount returned to each qualifying member of the work comp fund is based on the amount of premium paid and the loss ratio on submitted claims. The current $300,000 dividend plan covers specific members of the fund for 1989-90 and 1991-92 school years.

“The positive side of an insurance pool is the concept of shared risk, cost control and the potential for dividends,” Spangler said. “The negative side, of course, is that with the shared risk comes the potential for additional premium assessments.”

In the 30 year history of the KASB Work Comp Fund, two special assessments were required; one in the 2002-03 school year and another in the 2004-05 school year. However, $775,000 of the special assessment amounts have now been returned to the participating members.

“The fund is financially strong and healthy,” said Spangler. “When you are looking to save money and finding efficiencies, it is not just about renewals.”

Spangler urges school leaders to take advantage of the annual review and renewal process for insurance protection and other risk management products. 

“In light of budget constraints facing our members, and the continued efforts to sustain high student success, don’t let these annual renewals come and go without a serious review of your options, your risk, and a potential for real savings that can be put to better use,” Spangler said.

Another focus of the KASB pool is cost containment and loss control. The KASB Work Comp Fund recently launched an online learning management system for members of the work comp fund they can use with their employees to train on how to prevent on-the-job injuries and reduce the number of work comp claims. KASB is looking to use the learning management system to help launch other training programs as well. 


December 2014

Board of KASB Workers Compensation Fund issues another refund to members


[pictured: KASB Fund Administrator Liz Maisberger-Clark and School Board Member Ed Becker, Girard USD 248]

The Board of Trustees of the KASB Workers Compensation Fund has issued another refund to its members.

The refund is for a portion of the special contribution collected for the 2004-05 school year. The KASB Workers Compensation Fund is the only insurance pool in Kansas to have issued a refund of supplemental contributions.

In a letter to Fund members, Liz Maisberger-Clark, administrator of the Fund, said, "Let me say that we truly appreciate your continued participation in the Fund. Together we are stronger! And it is the strength of the Fund that allows us to offer competitive rates for workers compensation insurance that specializes in supporting Kansas public schools!"

The Fund was established in 1987 to provide KASB members workers compensation insurance. No eligible member has ever been denied coverage, nor has any member been non-renewed due to excessive losses.

The Fund is administered by KASB with an in-house claims department, and is governed by a separate Board of Trustees composed of locally-elected board of education members.

The board authorized the second refund last year. It issued the initial refund in 2013.

The special contribution from the 2004-05 members of the Fund was based on actuarial forecasts and in consultation with the Kansas Insurance Department. Since that time a number of measures have been adopted. These include quarterly actuarial studies, aggressive claims management to resolve open claims and reduce open reserves, and a renewed emphasis on training and safety to reduce losses. As a result, the KASB Workers Compensation Fund, Inc., offers competitive and stable rates while at the same time issuing a refund for the second time.


May 2013

KASB Workers Compensation Board Issues Refunds

The KASB Workers Compensation Fund, Inc., Board of Trustees is pleased to announced its decision to provide refunds to the 2004-2005 school year members of the Fund. The amount of the refund is based on a portion of each member’s supplemental contribution collected in 2004-2005.

"This is an unprecedented action,” said Liz Maisberger-Clark, administrator of the KASB Workers Compensation Fund, Inc. “It is a great thing to be able to do for those who were members during that fund year and who paid supplemental contributions into the fund.” 

Becker, LizThe Board of Trustees took this good faith action during its regular meeting on April 27, 2013, in Topeka. Board members credit a conservative approach that includes quarterly actuarial studies and aggressive claims management for the strong condition of fund reserves. Over the past eight years the Board and staff have worked diligently to resolve open claims and bring down the open reserves.

“Our success in claims management has produced a significant surplus for the 04-05 plan year,” Maisberger-Clark said. “This gives us the opportunity to make this distribution to the 04-05 members.” 

The KASB Workers Compensation Fund, Inc. serves KASB members and specializes in public education workers compensation insurance. The Fund was established in 1987 to make sure KASB members have continued access to workers compensation insurance they can count on. The Fund is administered by KASB with an in house claims department, and is governed by a separate Board of Trustees comprised of locally-elected board of education members. 

“We offer competitive rates, personalized service and are specialists in school business,” Maisberger-Clark said. “The Fund is in a very healthy position to continue to serve current and future members.” 

The first-of-its kind refund will be distributed according to Kansas Insurance Department guidelines. Members of the Fund during the 04-05 school year will receive a letter explaining the refund and a check in the near future.