Alabama Risk Management for Schools (ARMS) is now Alabama Trust for Boards of Education (ATBE)
(Targeted News Service Via Acquire Media NewsEdge) MONTGOMERY, Ala., Aug. 15 -- The Alabama Association of School Boards issued the following news release:
The AASB Board of Directors recently approved changing the name of its self-insured risk management trust from Alabama Risk Management for Schools (ARMS) to Alabama Trust for Boards of Education (ATBE). ATBE was chosen to emphasize that AASB risk management Funds are focused on AASB member boards of education and to help distinguish ATBE Funds
from the Educators Liability Trust Fund (ELTF) mandated and established by the State Legislature to provide liability coverage to board of education employees, which is administered by the State Department of Education and the State Department of Finance, Division of Risk Management (DORM).
Please remember that ATBE is the new ARMS and both ATBE Funds (GL/EO Liability Fund and Automobile Fund) continue to provide the cost efficient, specialized coverages for Alabama boards of education that you have come to expect as an AASB membership benefit.
For over 30 years ATBE, a member-owned, member-governed, tax-exempt, not-for-profit trust has offered AASB members risk management alternatives based upon the principles of savings, security, and simplicity. The ATBE General Liability/Errors and Omissions (GL/EO) Liability Fund allows participating boards to self-insure selected risk exposures of the board, members of the board, and when sued only in their official capacity the board's superintendent. The ATBE Automobile Fund allows boards to self-insure selected Automobile Liability (AL) and Automobile Physical Damage (APD) exposures.
ATBE GL/EO Rates Again Reduced for Most Boards
ATBE GL/EO Liability Fund renewal rates decreased in 2013/2014 and will again decrease for the 2014/2015 ATBE fund year for participating boards of education with no adverse loss experience. The second annual rate reduction applies to what have historically been and continue to be some of the lowest liability coverage costs available to boards of education from any source and ATBE hopes to continue the trend of rate reductions in the future as ATBE focuses on reducing and defending claims made against boards of education and members of such boards.
ATBE Automobile Fund Coverage
As it has since 1986, the ATBE Automobile Fund continues to provide Automobile Liability (AL) coverage to both boards of education and board employees. ATBE provides this coverage at rates that have not increased in eighteen years and at a time when commercial insurance companies are both increasing the cost of their automobile liability coverage and in some cases choosing to non-renew automobile liability coverage for boards of education, particularly coverage on school buses.
In addition to Automobile Liability (AL) coverage, beginning January 2014, the ATBE Automobile Fund now also offers Automobile Physical Damage (APD) coverage on select vehicles in the event of first party automobile physical damage to board of education vehicles.
AASB Members Trust Their Trust
For over 30 years ATBE has offered AASB members risk management alternatives based upon principles of savings, security, and simplicity and ATBE continues to provide cost efficient, specifically tailored liability coverage to AASB member boards of education and members of such boards.
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