June is a month that signifies not only the end of school and the impending heat of another Texas summer, but also a time when school districts and educational entities begin making risk management decisions for the upcoming school year. Because a number of risk management contracts coincide with the beginning of the school calendar, this is when many entities will evaluate their providers of coverage and services.
Your risk management program is made up of a number of components, including coverage, claims administration, loss prevention, financial stability, and price. While price is an important factor, especially in light of the current budget challenges you face, it is only one element you should consider. In actuality, what truly distinguishes one risk management program from another is the way it combines these components in a manner that provides the most comprehensive risk management solution at the lowest cost of risk.
That is exactly what the TASB Risk Management Fund offers its members. The following are just a few reasons why the Fund is unquestionably your comprehensive risk management solution.
When purchasing coverage, the most important question is: “Does the provider have the financial resources, strength, and integrity to back up the coverage they offer?” The Fund, with assets of over $300 million and Member’s Equity of $146.7 million, has positioned itself to provide both stability and security for the long term, thus assuring its members we will be here when you need us the most.
Administration by TASB
Like you, we are in the education business and we understand schools. Since the Fund is administered by TASB, we enjoy not only the shared mission of improving education, but also expertise in school district issues that often overlap with risk management. Along with our long-standing commitment to meeting your risk management needs, we can help you access other TASB resources to provide a total solution.
Commitment to service
As a service organization, our committed and stable staff understands that it is service to members that is truly important and one of the major factors that differentiate the Fund from other providers. Our service philosophy of “We Do the Right Thing” also extends to both our claims handling and coverage philosophy. This may mean looking for ways to pay a claim rather than denying a claim, hand-delivering a check within a few days of a district disaster, or getting an entity set up in a portable building so they can conduct class after a fire destroyed their school.
As mentioned earlier, the most successful risk management program is the one that best combines all essential elements to provide a total solution for you. For more information on any of the TASB Risk Management Fund’s programs, call your marketing consultant.