Self insurance was the right move for the Bruce Grey Catholic District School Board.
While many other large corporations are facing 20 per cent insurance hikes this year — the Catholic School Board increase sits at 8 per cent.
While no one ever likes an increase, Superintendent of Business Cathy Colton says the School Board can manage the 4 thousand dollar hike.
That raises the board’s insurance premium to 54 thousand dollars.
Colton says part of this increase is due to the School Boards own experience as well as an increase in it square footage at St. Mary’s and St. Peter’s and Paul’s.
Colton says self insurance works well for the Catholic Board because OSBIE — the Ontario School Boards Insurance Exchange — deals exclusively with schools.
She says policy holders face the same issues and risks.
Colton adds the insurance provider also provides a great deal of quality information about what type of risk management measures the School Board can take to reduce risks.
She says over the years the Catholic Board has really begun to reap the benefits from this.