The All Lines Interlocal Cooperative Aggregate Pool Board of trustees has announced that it is returning $1 million back to member school districts and educational service units in the form of a dividend. As a member school district, the estimated dividend awarded to Central City for the 2013-2014 year is $6853.
ALICAP is an insurance program formed by the Nebraska Association of School Boards in 1990. ALICAP provides property, liability, errors and omissions, auto, and workers’ compensation insurance to school districts and educational service units that choose to join.
Central City has been a member of ALICAP since its origination. Kent Malm, who sits on the Central City school board, is also a board member for ALICAP.
ALICAP is formed under Nebraska’s Intergovernmental Risk Management Act, which allows participating members to pool its assets together to provide insurance services to its members. This pooling concept has proven to be a success for Nebraska Schools and educational services units as the pool has returned over $14 million back to schools and ESUs over 24 years in the form of a dividend. This concept of shared risk management has demonstrated cost savings for Nebraska schools, ESUs, and tax payers.
The pool is governed by school board members and administrators representing its participating members.