Insurance Protection for Schools - Glossary
Property:
BOAT INSURANCE
This policy can provide cover for water craft that the school owns such as rowing sculls, sail boats, yachts, dinghies and power boats.
COMPOSITE RISKS PROPERTY INSURANCE
This policy covers physical loss or damage to the School buildings and contents and other insured property as a result of fire, explosion, natural disasters, theft, vandalism or accidental damage. Natural disasters covered include storms, wind, water, flood, lightning and earthquakes. The policy can also be extended to cover loss of revenue and additional costs to keep the school operating , loss by employee dishonesty, property in transit, machinery breakdown and electronic equipment.
CONSTRUCTION INSURANCE
This physical loss or damage policy covers contract works (made up of contract price, material or items supplied by the principal and escalation allowance) and the policy can also provide cover on tools, equipment, temporary buildings, scaffolding, hoardings, formwork and false work, demolition, clearance and removal of debris, architect, engineers', surveyors' and consulting fees, construction machinery and existing permanent buildings or structures held in care, custody or control of the principal, contractor or sub contractor.
This policy has two expiry dates, the construction period expiry date and the maintenance period expiry date.
Where an existing building is being altered, extended, added to or renovated, the construction policy should include an amount to cover loss or damage to the existing building(s).
ELECTRONIC EQUIPMENT
This type of insurance covers repair or replacement costs to electronic equipment due to electronic, electrical or mechanical breakdown. The cover can extend to insure (Section 2) costs of reconstructing damaged data media and (Section 3) the increased costs of working for the use of substitute equipment in order to maintain business operations.
EMPLOYEE DISHONESTY (FIDELITY GUARANTEE)
This type of insurance can provide cover for the school's money, negotiable instruments, goods or other property against theft, embezzlement or misappropriation by employees.
GOODS IN TRANSIT INSURANCE
This type of insurance covers property against loss or damage by the perils covered in the selected cover option whilst in transit anywhere in Australia by road transport, rail, sea, air or post.
MACHINERY BREAKDOWN
This class of insurance covers non-maintenance repair costs due to sudden damage.
Where items are insured separately each item has a separate sum insured representing the estimated maximum repair cost and this is our limit of liability. More commonly, items are not listed and are all insured under a "blanket" policy in which case the limit of liability is the maximum amount payable for repairs for any one machine or item of plant.
MOTOR INSURANCE
Motor insurance can cover all types of sedans, station wagons, 4-wheel drives, utilities, tractors, trailers, buses and other registered vehicles against loss or damage. All drivers are covered, provided that the driver complies with the policy terms and conditions.
The policy also provides $30,000,000 legal liability protection for damage to vehicles or other property belonging to third parties.
PLUVIUS INSURANCE
This policy is designed to reimburse the costs, expenses and non refundable charges incurred for a fete, social or other fund-raising activity where rain would be likely to cause a reduction in support and income.
SPECIAL RISK INSURANCE
This cover is broad in scope and items are insured against loss, damage or destruction caused by any accident or misfortune arising from fortuitous circumstances unless the event or peril is specifically excluded by the policy exclusions.
A wide range of items such as sporting equipment, musical instruments, jewellery, personal effects, art, equipment of all sorts and bicycles can be covered. Motor vehicles, motor bikes, water craft and aircraft or fixed property cannot be insured under this policy.
MAJOR PROPERTY EXPOSURES
Libraries (water and smoke damage), science blocks (explosion ), computer rooms (theft ), buildings (malicious damage and vandalism ), air conditioning (breakdown) and construction ( storm).
LIABILITY:
DIRECTORS' and OFFICERS' INSURANCE
Schools have a need for Directors' and Officers' insurance to protect against claims made against Directors or officers by reason of a wrongful act committed or alleged to have been committed in their capacity as a Director or Officer of the school.
It also indemnifies the school against any payment it elects to make and is legally entitled to make in respect of any claim made against a Director or Officer.
A wrongful act as defined by our policy is, "any actual or alleged breach of duty, breach of trust, neglect, error, misstatement, misleading statement, omission, breach of warranty of authority or other act done or wrongly attempted by any Director or Officer”.
Actions may be brought against Directors and Officers by employees, students and/or parents, competitors, shareholders, creditors, members of the public, the trade practices commissioner, commissioners for taxation etc.
EMPLOYMENT PRACTICES LIABILITY INSURANCE
This policy covers the school as well as past and present Directors and Officers and all employees.
The policy covers the following:
- Wrongful refusal to employ an applicant for employment.
- Wrongful failure to promote an employee.
- Wrongful demotion , negligent reassignment or disciplinary action.
- Wrongful termination of employment , including constructive dismissal.
- Sexual harassment.
- Unlawful discrimination which may include discrimination on the grounds of race, colour, sex, sexual preference, age, physical or mental disability, marital status, family responsibilities, pregnancy, religion, political opinion, national extraction or social origin; and
- Oral or written publication of material that slanders, defames or libels an employee or violates or invades an employee's right of privacy.
The term wrongful is defined as meaning unfair or unlawful.
PROFESSIONAL INDEMNITY INSURANCE
This policy provides indemnity for claims arising from the rendering of or from failure to render professional advice or service by the school (the definition of insured includes teachers )or any error or omission connected with such advice or service.
The various sections of our policy are as follows:
Breach of Professional Duty.
- Libel and Slander.
- Loss of Documents.
- Fraud and Dishonesty.
- Automatic Reinstatement.
PUBLIC LIABILITY
This policy will pay on behalf of the school, compensation that the school is legally liable to pay to third parties in respect of:
- Personal Injury.
- Property Damage.
- Advertising Liability.
The term personal injury most commonly refers to bodily injury, death, sickness, disability or mental anguish.
Property damage encompasses physical damage or loss of property along with loss of use of property even if the property in question has not been damaged.
Examples of advertising liability include libel, slander and infringement of copyright.
The policy also provides cover for liability arising out of the client's products. "Products" means anything which is manufactured, constructed, erected, installed, repaired, serviced, treated, sold, supplied or distributed by the school (including packaging and containers) in the course of the operation and after it has ceased to be in the physical custody or under the legal control of the school (i.e. goods sold from a tuck shop or at a fete).
WORKERS COMPENSATION INSURANCE
This statutory class of insurance pays compensation to employees for injuries received during working hours whilst in the school's employ or for work caused illnesses, such as stress.
MAJOR LIABILITY EXPOSURES - Public liability (injury and property damage), Professional indemnity (failure to teach), Employment Practices (wrongful dismissal, harassment, discrimination), Workers Compensation (employee injury or stress related illnesses).
OTHER BENEFITS:
PERSONAL ACCIDENT FOR SCHOOL EXCURSIONS INSURANCE
This policy offers personal accident protection for students whilst on excursions and school camps.
Lump sum benefits are provided for accidents and typically it covers death, permanent disablement and other listed events.
PERSONAL ACCIDENT AND ILLNESS INSURANCE
This policy offers Personal Accident or Personal Accident and Illness insurance for the principal, teachers or administrators within the School. Loss of these people from the schools' usual activities will mean that the school will need to substitute the person and pay the market rates (at a considerable cost if the person is on a stipend) for replacement of such personnel.
This insurance provides lump sum and weekly benefits for events caused from an accident or illness. The provisos in the policy wording should be read carefully as they set out the limitations in terms of maximum compensation payable under the policy.
SchoolCare STUDENT'S ACCIDENT INSURANCE
The SchoolCare policy covers school excursion and work experience policies can now be covered under the one policy.
Catholic Church Insurances Limited SchoolCare, otherwise known as Student's Personal Accident & Disability Insurance offers schools, colleges and kindergartens the opportunity to purchase lump sum benefits for death, disablement, broken bones and damaged teeth. Additional expenses such as medical expenses (only where law permits us to pay), emergency transport and home tuition are also payable under the policy.
SchoolCare cover is purchased by the schools or other authorities to insure all students in the school. Two options are available:
- 24 hour cover, and
- school/kindergarten activities only cover.
PERSONAL ACCIDENT FOR VOLUNTARY WORKERS INSURANCE
Voluntary Workers Personal Accident insurance provides personal accident protection to voluntary unpaid parents or friends of the school whilst participating in such activities as working bees, tuck shops and school camps. Lump sum benefits are provided for accidents and typically it covers death, permanent disablement and other listed events. Weekly benefits are also available, as are limited medical expenses.
Cover generally is limited to people aged between ten and 80 years of age.
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