Franklin Circuit Court Authorizes Disbursement of $5 Million to Kentucky School Boards Insurance Trust Fund

On Monday, March 18, 2019, the Kentucky Department of Insurance and Kentucky Employers’ Mutual Insurance received authorization from Franklin Circuit Court to disburse $5 million to 194 members of the Kentucky School Boards Insurance Trust Fund. KSBIT members include numerous county boards of education, colleges, and cooperatives throughout the Commonwealth. A recent actuarial study confirmed that KEMI’s claims administration substantially reduced liabilities, resulting in approximately $5 million in savings to the assessed KSBIT members. KSBIT will disburse the funds through a pro rate distribution, beginning April 2019.

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