BOT Approves Insurance Renewals During June 29th Special Meetings
[Garden City, KS] July 5, 2022 -- The Garden City Community College Board of Trustees approved athletic and property/casualty insurance as well as a discussion of workers' compensation insurance during consecutive special meetings on June 29, 2022.
The Board heard a presentation from GCCC Administration regarding athletic insurance renewal. GCCC holds two levels of athletic insurance: a $1,000 deductible with a maximum medical benefit per injury of $25,000 and a catastrophic policy that becomes in effect once a claim has reached $25,000. The catastrophic coverage has a $5,000,000 medical maximum coverage limit and a 10-year benefit period. A renewal premium of $139,021 for the first-level coverage was provided by STARR Indemnity & Liability. The second-level coverage was provided by Zurich with a renewal premium of $18,985. The Board approved the athletic insurance policy proposal for medical and catastrophic coverage totaling $158,006.
Next, the Board discussed property and casualty insurance after a presentation from GCCC Administration. GCCC has used IMA, Inc. for property and liability insurance since 2014, and GCCC Administration recommended continuing due to the excellent response and service received. IMA, Inc. is part of the Kansas College and Universities Consortia Agreement. The 2022-2023 proposal for property and casualty insurance coverage from IMA, Inc. for $354,284 was approved by the Board.
Finally, the Board discussed workers' compensation insurance after hearing from GCCC Administration. While the only bid received was for $47,504 from Kansas Municipal Insurance Trust (KMIT), which is below the threshold for the Board to take action, GCCC Administration wanted to present the information to the Trustees. GCCC will move ahead with the bid from KMIT for coverage beginning July 1, 2022.
The next regularly scheduled meeting of the Board of Trustees is set for Tuesday, July 19, 2022, at 6 p.m. in the Endowment Room at the Beth Tedrow Student Center.
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Garden City Community College exists to produce positive contributors to the economic and social well-being of society.