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What is MUSIC?
The Missouri United School Insurance Council (MUSIC) was formed on December 31, 1985, in response to the insurance crisis of the mid-1980’s, as an all-lines property and casualty pooling arrangement. MUSIC began with 47 school districts and has now grown to over 470 Missouri public school districts and community colleges. This number represents approximately 87% of the school districts in the state and two-thirds of the community college districts.
Overview
Since its beginning over 20 years ago, MUSIC has continued to serve the public education community with ever-expanding coverage protection and risk management services. Its members consistently outperform their peers in the number and frequency of losses due to the program’s emphasis on loss control. This fact, plus the reality that the program is non-profit and enjoys very lean administration, means the cost to the local district can be significantly less than what is available through the standard insurance market.
Structure
MUSIC is a protected self-insurance pooling program whereby the pool retains the first layer of risk and cedes catastrophic exposures to the reinsurance community. The program is owned by the members, is non-profit, and is governed by a nine-member Board of Directors comprised of member school superintendents and financial officers from around the state. An Executive Director also serves the membership by overseeing the day-to-day management of the operation.
Financial Security
MUSIC maintains a healthy surplus in order to weather rainy days, but it also is not in the business of collecting more money than is necessary. The Board believes the pool should not “warehouse school money” and as much funds as possible should remain in the local district to fulfill their primary mission of educating the children of that community. The pool commissions an annual actuarial report and it submits to an annual financial audit. The Missouri Department of Insurance also examines the finances and operations of MUSIC approximately every three years. The last examination was released late in 2008 and is available upon request. Finally, the reinsurance program, utilizing more than 20 insurers from across the globe, are all A-rated by the A.M. Best Company.
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Website Updates
Note: Members should log-in to access the entire website.
08.25.2010 The 2011 Renewal Questionnaire is now available. Please log-in to complete.
05.25.2010 Added the 2008 Playground Safety Handbook to the Loss Prevention Manual.
05.24.2010 MUSIC Scholarship Foundation Annual Golf Tournament set for Tuesday, August 3rd, 2010. Mark your calendars!
03.01.2010 An updated Special Events application now available. Please do not use the old forms. Thanks!
02.26.2010 The 2010 Annual Membership Meeting Booklet is now available for download.
01.29.2010 New AJG Loss Prevention Training videos available.
12.30.2009 The 2010 Fleet Auto ID Card now available under Member Services, after logging in.
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Coverages Included
The coverage plan includes buildings, contents, boiler & machinery, inland marine, automobile, crime, general liability, miscellaneous medical malpractice, school board liability, employment practices liability, special education due process, workers’ compensation, treasurer’s bonds, special events and notary bonds. Extra liability limits from a group-purchase umbrella program are also available.
Special Services Included
Also included at no extra charge are building appraisals, board policy service, loss control services, legal seminars and workshops, workers’ compensation managed care network and nurses, dedicated claims staff working only on MUSIC claims, monthly loss runs, and a quarterly newsletter. The Board and staff has also instituted an innovative, nationally-recognized, web-based training program to educate the school community on what to look for in the behavior of those who would sexually abuse our children. Tens of thousands of Missouri school employees and volunteers have received the training.
MUSIC Facts and Figures
- Number of Members – over 470 public school districts and community colleges
- MUSIC Annual Budget – approximately $75 million
- Member Enrollment Range – districts vary in size from 44 to over 22,721
- Number of Member Employees – 91,000
- Number of Teachers – 60,000
- Member Payrolls – $3.4 billion
- Property Values – $17 billion
- Number of Buildings - 5,500
- Number of Buses – 5,700
- Other Vehicles – 2,400
- Student Count – 670,000
- Number of Claims Managed Since Inception – 78,000
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