School House Insurance Hike

Oklahoma City, OK – Okla. schools expected to face insurance increase

(Information in the following story is from: The Oklahoman,

OKLAHOMA CITY (AP) More than 400 Oklahoma schools have received notices of expected insurance rate increases averaging 19.5 percent.

The notice from the Oklahoma Schools Insurance Group comes on the heels of schools being told that state funding for common education in the next fiscal year will be cut by 4.1 percent. The group provides insurance coverage to 440 of Oklahoma's 526 school districts.

Insurance group executive director David Martin told The Oklahoman that the biggest increase is in property insurance.

The group says it's had nearly $81 million in property losses during the past four years as Oklahoma has been hit with ice and snow storms, severe wind and hail and tornadoes in addition to wildfires.