Charter schools have specific insurance requirements to meet given to them by the state which they reside. They need a unique and wide variety of coverages for various risks. The coverages that are required for charters schools are:
- Abuse and Molestation Coverage – Provides defense and indemnity protection against claims coming from allegations of abuse or molestation.
- Directors and Officers Coverage – Provides financial protection for the directors and officers in the event they are sued because of their professional performance.
- Educators Errors and Omission Insurance – Protects from claims arising from the failure to perform your duties that results in damage to another party.
- Employee Benefits Liability – Coverage for wrongful acts committed in the administration of an employee benefits program.
SOME ADDITIONAL COVERAGES YOU CAN ADD ON ARE:
- Business Income – Coverage that pays for loss of earnings or income when business operations are interrupted due to a property loss as a result of an insured cause of loss.
- Fidelity/ Crime Insurance – Protects from loss of money, securities or inventory resulting from a crime.
- Identity Theft Coverage – Provides the consumer with assistance to guide them through the process of restoring and protecting your identity.
- General Liability – Coverage when negligent acts or omissions result in bodily injury or property damage on the premises of the school.
- Property Insurance – Protects against most risks to a property, such as fire or theft.
- Workers Compensation – Provides compensation and medical care for employees who are injured on the job.
- Cyber Liability – Protection against first- and third-party losses associated with cyber attacks and data breaches.
- Student Accident Insurance – Coverage designed to protect schools from financial loss due to legal action and direct medical costs.
- Tuition Fees Insurance – Covers for loss of tuition and room and board fees when school is suspended because of the occurrence of a peril.
- Umbrella – Protects the assets and future income of the policy holder beyond the standard limits of their primary policy.