Area schools receive checks for equity returns

PRESENTED CHECK–On behalf of the Prairie State Insurance Cooperative (PSIC), Dr. Don Badgley, at right, recently presented Red Bud School District Superintendent Jonathan Tallman with an equity return check in the amount of $1,965.

Several local school districts have received or will soon be receiving a check for equity returns.

A press release from Robert McDermott, business manager for the Rochester School District and chairman of the Prairie State Insurance Cooperative (PSIC), noted that a total of $709,360 in equity returns would be given to PSIC members. This amount is monies from property/casualty policies for 2006-2007 and 2011-12, as well as half of the monies from 2012-12 and 2013-14.

The release notes, “PSIC is a full service insurance and risk management program offered to public schools in north, northwest, central and southern Illinois. The comprehensive program gives members long term cost stability, as well as broader coverages and increased limits. Coverages include property and casualty, automobile, excess liability, worker’s compensation, school board legal, student accident and more.

For more on this story, please see this week’s print edition.