Lincoln, Nebraska Schools Get $5M Advance on Insurance Claim

June 13, 2011

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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