Organizations providing higher learning have exposure to a broad range of risks on a daily basis. Many institutions can benefit from seeking higher education insurance from established companies in the business that are experienced in assessing risk and providing optimal insurance solutions. Insurance companies that are program oriented can provide packages which agents can propose to their clients that are comprehensive and all encompassing. The following are the primary areas of risk for which educational organizations may seek appropriate coverage.
- Environmental Hazards – may include laboratory risks, pollution, construction
- Property and Vehicle Use– may include damage to structures, equipment, vehicle accidents
- Intellectual Property Rights – may include research, writing, inventions, art
- Employment Practices – may include tenure, discrimination, harassment, worker’s comp
- International Studies – may include study abroad programs, campuses in other countries
- Safety and Security – may include campus security, crime, emergency and crisis
- Regulatory Compliance– may include laws and standards from government agencies
- Student Life – may include health, housing, Greek life, athletics, student activities
Insurance companies that cater to learning organizations can offer higher education insurance programs that are customized to the specific needs of the institution. Any unique risk considerations outside of the typical insurance programs can often be evaluated and developed to address those particular concerns. Insurance service companies are available that are experts in the industry at developing complete package programs to assist in reducing risk and managing costs long term.