Response to Advocate Opinion Piece - August 27, 2018
In our continued effort to be transparent with our community, there are two questions raised in the Victoria Advocate Viewpoints section on August 28, 2018 and we want to provide answers to both.
- “How much money is currently in the pool available to pay VISD’s claims from Hurricane Harvey?”
PCAT has already funded all retentions for Victoria ISD claims. PCAT is designed so that it only retains the first $100,000 of any flood claim, and the first $500,000 of any wind or hail claim. Reinsurers pay the claim after the PCAT retention. There is zero risk of the Victoria ISD claim not being funded by PCAT. Any inference otherwise is not based on fact.
- “How much of VISD’s $5 million in outstanding claims does the board expect to be reimbursed from the Risk Pool?”
As of August 28, 2018, the District expects to be reimbursed $3,167,658.72. The difference as claimed vs as reviewed still remains a discussion point between the District and PCAT (Property Casualty Alliance of Texas). We will continue to advocate on behalf of the District to recoup any and all monies due to the district resulting from hurricane damages.
In short, the discrepancies are mostly related roof repairs. Our roofs were damaged by the Hurricane. In this point there is no question or debate. With PCAT, we are working to establish what level of disrepair the roofs were in prior to the Hurricane. As the VISD community is aware, many of our buildings are in need of repair and replacement and a failed bond vote was held recently in an effort to engage some of this work.
We will continue to update with more information as it becomes available.