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Broker and Pool Client Presentation November 15 & 16, 2006 PowerPoint PPT Presentation


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Broker and Pool Client Presentation November 15 & 16, 2006. School Violent Acts Policy. Provides indemnification for crisis management service expenses incurred by the school or school district,

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Broker and Pool Client Presentation November 15 & 16, 2006

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Broker and pool client presentation november 15 16 2006

Broker and Pool Client Presentation

November 15 & 16, 2006


School violent acts policy

School Violent Acts Policy

  • Provides indemnification for crisis management service expenses incurred by the school or school district,

  • To manage their response to an intentional violent act at their school or at a school sponsored event, and

  • Involving their students, staff, or others associated with the school.


School violent acts policy1

School Violent Acts Policy

School Violent Acts Policy is first party coverage that pays the expenses incurred in managing what is traditionally a third party event


School violent acts policy2

School Violent Acts Policy

  • What’s a “School Violent Act”?

    • An intentional act involving students, parents of students, employee(s), certain visitors, student teachers, substitute teachers, etc. at a school’s premises.

    • Premises is a defined term that includes real property that a school owns, rents, or leases as a place to conduct education. It also includes school approved temporary locations, field trip locations, and school buses or other vehicles that the school uses for the transportation of students.


School violent acts policy3

School Violent Acts Policy

  • What Expenses Are Covered Under the Policy?

    • Post crises management services provided or coordinated by a crises management service provider.

    • Typically includes post incident crises intervention and containment, media and public relations, communications, security and authority.

    • Travel expenses for parents, spouse or child of a victim to location where the School Violent Act occurred (air and hotel).

    • A limited amount for property or equipment that relates directly to the security of the school and which may assist in the mitigation or prevention of future School Violent Acts.


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School Violent Acts Policy

  • What Is a Crises Management Service Provider?

    • An organization that assists in the execution and coordination of an Emergency Response Plan (ERP) and provides post crisis services. Those services mentioned in previous slide.

    • Can also assists with assessment and planning in advance of an event to allow an organization the best opportunity to properly respond to the crisis situation.

    • May be the pool providing these services to the membership.


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School Violent Acts Policy

  • Coverage Requirements

    • Individual district must have a formal ERP. The plan must detail the school’s policies and procedures in the event of a School Violent Act and must designate a Crisis Management Service Provider.

    • The ERP may be developed by Insured or in conjunction with an outside organization. It must be communicated to the staff so they have the knowledge and ability to execute the plan.


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School Violent Acts Policy

  • What’s Required of a School in the Event of a School Violent Act?

    • Notify the crises management firm immediately.

    • Notify Genesis within 10 days of the event.

    • Detail summary of Crisis Expenses incurred sent to Genesis within 60 days after our request.


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School Violent Acts Policy

  • What Is Excluded from the Coverage?

    • Cost of improvement or alterations to premises (other than the limited coverage for improvements related to future prevention or mitigation of School Violent Acts)

    • War

    • Insurrection

    • Workers’ compensation benefits

    • Employees salaries / wages

    • Loss covered under an employee benefits plan

    • Pollution


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School Violent Acts Policy

  • What Is the Retention?

    • $25,000 retained limit per School Violent Act (may be retained by member or pool)

  • What Is the Limit Provided?

    • $250,000 annual aggregate for each member for “Crisis Expense”

    • $25,000 for property improvements or equipment to improve security following a School Violent Act


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School Violent Acts Policy

  • What’s in it for the Members?

    • Heightened awareness and preparedness for a crisis event.

    • Education and training to improve quality and effectiveness of ERP.

    • Ability to execute an ERP following a School Violent Act or other crisis situations.

    • Provides a proactive response to students, staff, and community that demonstrates best practices approach to crisis readiness.

    • Piece of mind associated with funding needs for managing a School Violent Act.

    • Immediate fund availability vs. reliance on other sources.

    • Allows better management of other incidences other than violent acts.


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School Violent Acts Policy

  • What’s in it for the Pool?

    • Offer new product concept to membership that provides unbudgeted funding for catastrophic school violent events.

    • Pool participation in development of ERP and crisis planning /risk management for pool members.

    • May avoid or mitigate post incident third party claims related to School Violent Act losses.

    • Allows better management of other incidences other than violent acts.

    • Same Genesis claim department coordination of School Violent Acts with any potential third party claims.

    • Same prompt claim payment as experienced with other coverages placed with Genesis.


School violent acts policy11

School Violent Acts Policy

  • What’s Required of Genesis?

    • Provide School Violent Acts application for pool members to complete.

    • Provide policy wording for pool to incorporate into pool’s coverage form.

    • Provide pool with reinsurance pricing based on student population.

    • Allow flexibility related to how retention is structured. Pool can assume any portion of retention or require member to assume 100% of retention.

    • Introduce Crisis Management Service Provider (if requested).

    • Involve the same Genesis claim department staff and associated payment expectations.


School violent acts policy12

School Violent Acts Policy

  • What’s Required of the Pool?

    • Present and offer School Violent Acts product to your membership.

    • Receive and review completed applications inclusive of Emergency Response Plan.

    • Confirm the Emergency Response Plan is current and complete.

    • Issue School Violent Acts coverage form to membership.


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School Violent Acts Policy

Genesis Product Roll-out

  • Current Genesis School Pool Clients

    • First offered to pools and pool brokers on a reinsurance basis

  • Current Genesis Insureds

    • Present to all brokers of current insureds within the next two weeks – to offer on a non-admitted insurance basis through MGA

  • Currently Not Insured by Genesis

    • Will be offered through MGA to the broader marketplace in select states


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School Violent Acts Policy

  • Next Steps

    • We will contact pool broker or administrator to discuss the pool’s interest by December 8th. Contact us sooner if you are immediately interested.

    • If broker/administrator indicates the pool is interested:

      • We will provide them with application and form.

      • We will work with them to establish structure based on their pool’s characteristics.

      • We will provide them with price for reinsurance of their program.


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