KSBIT Court Settlement to Schools
A Franklin Circuit Court order has approved the distribution of about $2 million to almost 200 Kentucky schools, colleges, education groups, and the Kentucky League of Cities Insurance Services Association.
The court’s backing of the agreed judgment returns funds from the defunct Kentucky School Board Insurance Trust.
Under the terms of the settlement, $1 million will go immediately to schools and another $1 million will be returned to the Kentucky League of Cities Insurance Services Association.
The member schools and the League of Cities Insurance Services Association were both financially impacted by the Trust failure in 2013.