Opening Remarks: Finance Strategies to Weather the Storm of Childhood Assault Claims

The cost of victim compensation for past crimes against children resulting from AB 218 is sobering. Estimates of the direct liability of K-14 schools are more than $3 billion. Counties, cities, districts and non-profit service providers are faced with exposure that is expected to exceed the K-14 liability many times over. How will agencies already challenged with structural imbalances pay for the deluge of judgements and settlements? This program will bring into focus the magnitude of the financial storm facing agencies across California, and it will also examine the condition of the insurance safety net that is recognized as the first line of fiscal defense. Lastly, experienced issuers and market professionals will explore the public finance strategies that agencies may use to overcome a fiscal challenge that may appear insurmountable.