Commercial property coverage designed to protect the physical assets of the educational institution against loss or damage from a broad range of causes
Designed to protect your educational institution from a loss if you are found legally liable for bodily injuries or property damage to a third party
Provides financial protection and legal defense against lawsuits arising out of the errors and omissions of educators while performing their job-related duties
Defends the entity against allegations of abuse of a student by a staff member and some insurers offer counselling services and crisis management in response to abuse allegations
Covers defense of the directors and officers of the entity of alleged wrongful acts in the operations of the entity
A form of Business Interruption coverage that can be purchased to compensate ongoing costs and lost profits in the event the school is locked down
A form of Business Interruption coverage that can be purchased to compensate ongoing costs and lost profits in the event the school has a bomb scare
Addresses employee dishonesty or theft from the educational entity by an employee or in some cases by a third party
Protection of the entity for its responsibility for the release of personal information of others under their control, plus coverage against the potential for cyber-attacks or computer fraud
A program that provides refunds on tuition paid in the event that the student withdraws, or is dismissed during the educational program
Your insurance program is designed to address your unique needs and risk appetite based upon your operations. Therefore, programs will differ between institutions like post secondary education and private schools. Your FCA broker will assist in making informed coverage decisions that are right for you. At a minimum, we recommend a policy limit of $2 Million in Commercial General Liability coverage and a minimum policy limit of $5 Million in Abuse Liability coverage but it depends on many considerations.
There is no one size fits all. To understand what is right for your operation, your FCA broker will conduct a market analysis to match the limit to your exposure and risk needs.
The cost of your program varies based on a number of factors. Some of the key considerations that affect pricing are:
To get started, be prepared to provide your FCA broker with a foundational understanding of your educational institution. This information includes but is not limited to: