Byline: ROBERTO CENICEROS
GLENDALE, Calif.-Loss portfolio transfer arrangements involving a defunct workers compensation insurer could leave a number of California school districts saddled with millions of dollars in unpaid liabilities.
School district risk managers and a pool manager who arranged the transfer are now consulting with their attorneys to determine who should pay the claims.
The problem could be particularly painful for the school districts because a fiscal crisis in California is taking a toll on school budgets.
"This is the worst time for this to accrue, given the financial situation of the schools,'' said Ed Godwin, risk manager for the Riverside Community College District in Riverside, Calif. "It is something of real concern.''
Like many California school districts, Riverside Community College participates in a joint powers authority. JPAs are similar to purchasing groups or self-insurance pools.
In 1998, a JPA that Riverside Community College District participates in-the Community College/County …
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