In an effort to protect the state’s school districts and their employees, the Kentucky Department of Insurance proposed a plan to take over the management of the troubled funds used for school board workers’ compensation and property and liability claims at a much lower cost to the school districts. These funds have faced serious financial destabilization, with potentially significant and costly impact to the school boards. This recommendation, if accepted, will save the state’s school boards at least $21 million over proposals submitted earlier this year.

Attorneys for the DOI filed petitions today in Franklin Circuit Court asking that two of the Kentucky School Boards Insurance Trust’s (KSBIT) self-insured funds be placed in rehabilitation, which means DOI will directly manage the funds. If granted, DOI Commissioner Sharon P. Clark and her staff will have full control of the KSBIT funds as the workers’ compensation fund transitions to another entity and the property and liability fund is closed out.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.