| Torrance CA, July 16, 2008 -- Keenan & Associates, the Torrance, California broker, who manages the largest K-12 school and community college Property and Liability and Workers’ Compensation programs in California, completed negotiations for renewals of the Schools Association For Excess Risk (SAFER) and Protected Insurance Program for Schools and Colleges (PIPS) pools resulting in total savings of over $13.5 million for the 2008-2009 fiscal year. PIPS is the largest public entity risk pool in the U.S. according to a recent ranking in the June 2 issue of Business Insurance. Members of the SAFER and PIPS pools represent more than 70% of the K-12 schools and community colleges in California. A total of 911 districts cover over $50 billion in property values, 2.5 million students, and $8 billion in payroll through PIPS and SAFER. Depending on the lines of coverage each district utilizes in the programs, the savings represent between 5% and 30% of their prior year’s costs. “When the California State Budget is creating such severe financial pressure on local school districts, these savings allow schools to invest in education, teachers salaries and educational programs which are so badly needed,” according to Graham Grice, Keenan Senior Vice President, Property & Casualty and Manager of the statewide pools. “Over their history, the pool members have benefited from over $60 million in the form of premium rebates, while enjoying the broadest coverage benefits available to California schools and community colleges.” About Keenan |