A new service available through the MASB-SEG Property/Casualty Pool is helping Pool members gain peace of mind—by ensuring their buildings and contents are properly covered in case of catastrophic loss. Thanks to a partnership between the Pool and CBIZ Valuation Group, members will receive a free appraisal of their buildings and contents as well as a copy of the comprehensive valuation data. Property valuations will be conducted regionally over the course of three years.

Data obtained from the Property Valuation Program provides individual members with accurate, up-to-date information so districts can confidently protect their buildings and contents up to their total insured value. The information is helpful for districts wanting to upgrade their facilities, verify insured values and know the true value of their buildings and contents. School districts wishing to upgrade their property valuation to meet the financial requirements of GASB-34 can do so at a 15 percent discount from the standard CBIZ rates.

Obtaining accurate property valuation data is also important for the Pool as a whole, as it allows the Pool to provide detailed information to its reinsurers and negotiate favorable reinsurance rates. This helps the Pool maintain steady and predictable rates and keeps members’ premiums consistent.

School districts and educational organizations that wish to learn more about the MASB-SEG Property/Casualty Pool or the Property Valuation Program should contact their SET SEG Account Executive by calling 800.292.5421.

SET SEG is a nonprofit provider of complete insurance services to Michigan school districts and educational organizations. SET SEG provides employee benefits, property/casualty and/or workers compensation insurance to more than 550 educational organizations in the state. The MASB-SEG Property/Casualty Pool is a nonprofit, self-insured pool that provides property and liability coverage to 463 member school districts throughout Michigan.