Breaux Bridge – The St. Martin Parish School Board voted to continue self-insuring its worker’s compensation insurance at this past Wednesday’s Finance Committee and regular board meetings.
The board had heard a proposal from Louisiana Worker’s Compensation Corporation (LWCC) at its May meeting but school system Chief Financial Officer Casey Broussard said that after going over the numbers, the district has enough money in its fund to provide coverage of its own. The LWCC plan, which would have no deductible as opposed to the school district’s current $700,000 deductible, would carry a premium of about $1.4 million dollars.
Over time, as the school district became invested in the LWCC insurance plan, the school system would begin to receive a dividend based on a percentage of its premium…