161.212 Educators Employment Liability Insurance Program -- Fund.

385 words·~2 min read·/ky/chapter-161/161-212

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)The Educators Employment Liability Insurance Program is hereby established in

the Kentucky Department of Education for the purpose of providing educators

employment liability insurance to protect all certified employees of Kentucky

public schools from liability for judgments or settlements that are in excess of the

coverage provided in KRS 160.105.

(2)Not later than July 1, 2024, the department shall contract with an insurance agency,

broker, or company to provide excess liability coverage to the coverage required in

KRS 160.105 for an additional amount of not less than one million dollars

($1,000,000) per occurrence and three million dollars ($3,000,000) aggregate for

each certified employee, which shall be inclusive of legal fees. The department

shall notify each certified employee that the coverage has been provided.

(3)If the certified educators' association with the largest number of members in the

Commonwealth provides greater, more comprehensive coverage than the amounts

provided in subsection

(2)of this section, then the coverage provided by the

program in subsection

(2)shall be at least equivalent to that amount.

(4)The purchase of liability insurance under this section shall not constitute a waiver

of any immunity or defense the insured may now or in the future assert under state

or federal law, regulation, or rule.

(5)The Kentucky Board of Education shall promulgate administrative regulations in

accordance with KRS Chapter 13A to implement the insurance program under this

section.

(a)The Educators Employment Liability Insurance Program fund is hereby

created as a trust and agency account fund in the State Treasury to be

administered by the Kentucky Department of Education for the purpose of

providing educators' employment liability insurance to certified employees as

described in this section.

(b)The fund shall consist of general fund appropriations, gifts and grants from

public and private sources, and federal funds. All moneys included in the fund

shall be appropriated for the purposes set forth in this section.

(c)Any unalloted or unencumbered balances in the fund shall be invested as

provided in KRS 42.500(9). Income earned from the investments shall be

credited to the fund.

(d)Notwithstanding KRS 45.229, any fund balance at the close of the fiscal year

shall not lapse but shall be carried forward to the next fiscal year and

continuously appropriated only for the purposes specified in this section.