Tuesday, July 09, 2013

EMC Insurance Backs off of "No Guns" Policy, but it may be too late

A Kansas law that allows teachers to carry weapons to protect children prompted EMC, the major insurance provider for Kansas Schools, to refuse to renew policies.

Three Kansas Community colleges  looked for alternate insurance sources after EMC told them it would drop their policies if they allowed staff to carry guns to protect their students.

Independence Community College, Labette Community College and Neosho County Community College formed an insurance consortium at a considerable savings.

EMC made a counter offer, but it may be too late.

David Wallis, an incoming ICC Trustee said:

"I truly believe when the word gets out that there is an option, that this team will be joined by K-12, municipalities and universities across Kansas," he said. "That's why EMC is trying so hard to convince these entities to request the exemption. They need time to stop their ship from sinking."

This is the way that capitalism works.  If you make stupid business decisions, you lose business.  The question is: Will EMC and like minded companies be able to backpedal fast enough to avoid a major loss of income, or worse?

©2013 by Dean Weingarten Permission to share granted as long as this notice is included.

Update:  The three schools in Kansas expect to save big bucks:

"Three community colleges in Kansas recently dropped their EMC insurance and say it wasn't hard to find a new insurer at all. In fact, it says, its new insurance plan will save it $2 million over the next decade. And in Texas, one school district has been arming its staff since 2007, and has also saved money by switching insurers."

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