Organizations of higher learning present a unique challenge to underwriters of insurance policies. Higher education insurance must take into account a combination of potential liabilities that is specific to colleges, trade schools, and other institutes of higher learning. The best line of defense an institute can have against such risks is a higher education insurance policy by an insurance underwriter who specializes in working with colleges and other higher education environments.
Skilled insurance carriers know that not every institute of higher learning is the same and may not have the exact same needs as even its closest neighbors. The first step to writing an insurance policy for your institute of higher education is to have an evaluator from the insurance company assess the specific risks. These may include any of the following:
- Legal liability
- General liability
Finding the correct combination of coverage is essential to getting the most out of your higher education insurance policy. It is a good idea to find an insurance company that specializes in higher education policies so that you can take advantage of their experience in the field.
Make sure that your institute of higher education is safe for all students, faculty, and staff members by ensuring that your insurance covers the unique needs of your organization.