Fifteen charter members started the Gloucester, Cumberland, Salem School Districts Joint Insurance Fund (GCSSD JIF) in 1998 because its members wanted a long-term and staple way to finance risk and insurance related expenditures.
Since its inception, the GCSSD JIF’s success is attributed to the dedicated leadership and commitment of the Boards of Education and School Business Administrators. Our leaders have worked diligently to provide opportunities to insure the safety of our schools, children and employees. They have proactively provided avenues andresources to aid in reducing the exposure of potential risks through safety and risk management programs.
GCSSD JIF not only focuses on safety, but on providing comprehensive insurance management committed to providing cost effective, all inclusive insurance coverage structured to meet the school districts’ needs.
The JIF’s objectives are to:
- Provide member school districts with a long-term alternative to the conventional insurance market as a means of stabilizing the otherwise cyclical nature of insurance expenditures;
- Pro-actively develop safety and risk management programs specific to school district operations;
- Aggressively evaluate, defend and/or settle claims made against member districts that fall within the scope of Fund coverage;
- Maintain a conservative funding posture in an effort to ensure long term financial security and stability for the Fund and its member districts;
- Maintain a conservative funding posture in an effort to ensure the long-term financial security and stability of the Fund and, by extension, the members; and
- Equitably distribute the Fund Budget among the participant member districts.
The members and their fund professionals work hard to understand, administer, and prepare GCSSD for any future changes in the market. This helps GCSSD control their premiums, tailor coverages, and allow for a sense of stability that does not exist in the traditional insurance market.
To schedule a Concept Presentation and hear how the JIF can help your district, click here.