ISTA Settlement

August 13, 2013

You might have heard or read in the media today that a settlement has been reached with the Indiana Securities Commissioner and the Indiana school districts who participated in the I.S.T.A. Insurance Trust (Trust). When finalized, this settlement, the Naylor Case, resolves the last of the litigation over the failure of the Trust, which provided health and other insurance products to a small number of Indiana school districts.

Despite what you might read or see in the media, NO ISTA or NEA monies were used to fund this settlement . Since 2009 there has been an array of litigation over the failure of the Trust, including litigation brought by ISTA and NEA on behalf of the Trust, to recover from those individuals and entities whose conduct caused that failure. That litigation generated settlements from those individuals and entities. Only funds from those settlements were used to settle the Naylor case.

Please share this information with your members, and in particular share the fact that ISTA and NEA member dues money is not being used to pay this settlement.

ISTA is pleased that all of the pending litigation is being resolved on terms that are fair to Indiana's public school teachers who participated in the Trust.

Thanks for your continued support.