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Section 20.3.18Revised 05-01-12
A. DEFINITION OF COVERAGE
This type of policy can provide excess coverage for the District's underlying policies of automobile liability, general liability, educator's legal and worker's compensation. Currently, the district does not carry an umbrella policy as the underlying limits are sufficient.
B. LIMITS AND DEDUCTIBLES
Limits: $4 million each occurrence
Underlying policy limit retention: $1,000,000 each occurrence
Reference Section 20.2.0 for standard procedure.
The initial charge is made to the Prepaid Insurance Account 11-11-000000-74200. At fiscal year end, the insurance premium is distributed to account 11-XX-107080-23721 based upon the square footage per location.