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NCSBT Risk Management Programs
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Risk ManagementFor more than two decades, NCSBA has provided protection for school boards through its various risk management programs. North Carolina School Boards Trust (NCSBT) In the early 1980s, school districts in North Carolina began to feel the effects of the worldwide insurance crisis. Most school districts could not obtain coverage for workers' compensation, errors and omissions, and general liability exposures through the commercial marketplace. The insurance industry simply did not and would not write coverage for most school districts at any price. NCSBA, in an attempt to meet the needs of the school districts, formed the North Carolina School Boards Trust (NCSBT) in 1982. From 1982 until 2005, NCSBA provided workers' compensation coverage for locally and federally funded school employees though a self-funded trust fund protected by excess insurance. In 1986, NCSBA established a second self-funded trust fund, the NCSBT Errors and Omissions/General Liability Fund, to provide errors and omissions and general liability coverage for school districts, local boards of education, school board members, school employees, and school volunteers. In 1997, the NCSBT Automobile/Inland Marine Fund was established to provide coverage for school-owned vehicles, including coverage for yellow school buses for exposures not covered by the State Tort Claims Act.
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Endorsed Programs
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