School District Receives Dividend

The Van Independent School District (VISD) received a cash dividend in the amount of $12,551 from its insurance program, Property Casualty Alliance of Texas (PCAT). The PCAT Board of Trustees approved $2,000,000 in dividends to be distributed to its school members. They also declared at least $1,000,000 for distribution beginning in 2009.

VISD’s tenure with PCAT is the largest factor in determining the amount of their current and future dividends.

By partnering with PCAT, VISD effectively stabilizes insurance funding and reduces their ultimate property and casualty insurance costs.

PCAT is a Texas interlocal governmental risk program representing 96 school districts and more than $26 million in annual contributions. Formed in 2003, PCAT has grown to become the 13

"Dividends are just one of the many ways in which PCAT helps schools reduce their ultimate insurance costs. VISD is committed to a comprehensive financial plan, aggressive claims administration and active involvement in loss control activities. This successful investment strategy is returning dollars to the classroom where administrators can serve their ultimate objective, educating our children," said Jack Melton, President and CEO of North American Solutions, the program administrator for PCAT.

"Evidence of this shared philosophy was validated in 2007 when 100 percent chose to renew their coverage with PCAT over any other available option," said Melton.

Van ISD has been a member of PCAT since 2003, and is represented by their agent, Kerry Sims of North American Solutions.