WTCS: Technical colleges form insurance cooperative

Contact:
Steven Stoeger-Moore, 414-238-2305

Kevin Myren, 608-246-6033

MADISON— The 16 colleges of the Wisconsin Technical College System have formed an insurance cooperative to provide property, general liability, worker compensation and other ancillary coverages for the colleges. The new cooperative agreement forms Districts Mutual Insurance (DMI), allowing for more customization of coverages specific to the colleges’ needs.

“This is an opportunity to take advantage of the size of the system in the commercial insurance marketplace and create services that are unique to the colleges,” said Steven Stoeger-Moore, executive vice-president of the new cooperative and risk manager of Milwaukee Area Technical College. “It also takes advantage of very good loss experience and allows for some potential long-term savings for taxpayers,” he added.

DMI has been recognized as a municipal mutual insurance company by the State Office of the Insurance Commissioner (OIC) and was licensed by the OIC today. The inception date for the cooperative will be July 1, 2004. Funding for the start of the cooperative will be generated by would-be premiums for fiscal year 2005, which translates into a zero percent increase in the colleges’ insurance costs next year.

An initial meeting of the Board of Directors of DMI was held and five board members were appointed: Kevin Myren, CFO, Madison Area Technical College; Stan Hollman, CFO, Southwest Wisconsin Technical College; Jim Blumreich, CFO, Northeast Wisconsin Technical College; Mike Lanser, president, Lakeshore Technical College; and Doug Olson, facilities/central service administrator, Chippewa Valley Technical College.

The Wisconsin Technical College System has 16 technical college districts throughout Wisconsin, which offer more than 300 programs awarding two-year associate degrees, one- and two-year technical diplomas and short-term technical diplomas. In addition, the system is the major provider of customized training and technical assistance to Wisconsin’s business and industry community. One out of every nine adults in Wisconsin receives education from the state’s 16 technical colleges. The WTCS Web site is located at www.witechcolleges.com.