Getting the Right Insurance Coverage for Private and Charter Schools
Public and private charter schools are subject to the same rules as traditional public schools while having the freedom to develop their own curriculum and hire teachers without state certification. They are government-funded and accountable to either the state, county, or district government body that provides the charter. Successful private charters also do their own fundraising.
Parents choose to send their children to private and charter schools due to the flexibility offered, with some schools catering to specific populations, such as students who are interested in the arts or those with learning or behavioral challenges. Others offer specialized curriculum.
In terms of the insurance, private and charter schools must secure certain coverages. For example, charter schools authorized by the Indiana Charter School Board (ICSB) are required to secure a specific amount of Commercial General Liability and name the ICSB as an additional insured. They are also required to obtain Educators’ Legal Liability, including Directors & Officers Liability and Employment Practices Liability. In addition, charter schools are required to obtain Automobile Liability, Umbrella, Employee Dishonesty, Property, Workers Compensation (as required by Indiana law), and Student Accident Coverage for athletic participation. It is also recommended that schools purchase Cyber Liability insurance and liability insurance covering field trips and/or foreign travel, depending upon the school model. The coverage requirements, amounts, and other details are clearly outlined by the ICSB as with other state boards that oversee charter and private schools.
Obtaining the coverages required for charter and private schools requires expertise and access to specific programs and markets that specialize in this niche. At Caitlin-Morgan, we specialize in education insurance and have a program that designed to cover many types of educational facilities including private & charter schools. Our program includes General Liability, General liability, Abuse and Molestation, Umbrella, Business Auto, Property, AD&D and Educator legal Liability. We also can provide Cyber Liability, D&O, EPLI and Workers Compensation coverage.
Our staff has the breadth and depth of understanding the types of challenges charter schools face that affect the facility’s bottom line and viability. We’ll help you secure the coverages and enhancements your insureds require to properly protect them. Just give us a call at: 877.226.1027