Lincoln (Nebraska) Public Schools system says it’s getting a $5 million advance on its fire insurance settlement.
Mark Shepard is the district associate superintendent of business affairs. He told the Lincoln Journal Star that the $5 million is from Travelers Insurance, which insures the district for damage beyond $500,000.
He says the district is self-insured up to $250,000. Genesis Insurance covers the next $250,000 and has already paid.
Fire officials have estimated damage at $20 million from the district headquarters fire that began late on May 30.
Shepard says the district is negotiating a final settlement with Travelers. The initial payment will let the district cover immediate costs without having to use tax money from the general fund.
Information from: Lincoln Journal Star
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