If you are thinking of becoming an Academy, insurance services can be provided to you via an agreement with our existing insurers.
For an arrangement fee, we will;
- Arrange your insurance on an annual basis, this will include co-ordination and provision of all renewal information to insurers
- Check and provide the insurers policy documents on an annual basis
- Liaise with insurers regarding policy conditions and cover
- Provide advice and guidance on all general insurance issues
- Assist with the administration and handling of claims
- Provide Risk Management guidance on an ad-hoc basis
The arrangement fee is normally fully reimbursed by the Young People’s Learning Agency.
The basic insurance package will include the following policies;
- Material Damage: Protection against ‘all risks’ or fire and selected perils for property including buildings, contents and fixtures and fittings
- Business Interruption: Cover for the additional cost of working suffered in consequence of material damage
- Engineering: Cover against sudden and unforeseen damage to plant and machinery. Inspection services for specified items can be arranged with ourselves
- Computer: Specially designed cover for IT equipment and records
- Money: Cover for loss of money and personal injury arising from robbery or assault
- Fidelity Guarantee: Protection against loss of money or property through theft or fraud by employees
- Employers’ Liability: Covering legal liability to employees for death, injury or disease arising out of their employment
- Public Liability: Legal liability insurance cover for third party injury or property damage including many additional benefits such as Libel and Slander and Hirers Liability as standard
- Professional Indemnity: Protection against claims for damages brought against the academy arising from dishonesty or breach of professional duty
- Governors’ Indemnity: Protection for governors against liabilities incurred as a result of breaches of duty, trust or authority arising out of their responsibilities as officials
- Motor: Cover for all types of academy vehicles
- Occasional Business Use: Protection when staff use their own vehicles on Academy business
- Travel: Cover for cancellation and medical costs on approved school activities.
Extensions to add to your policy include Legal Expenses cover, Terrorism cover and Personal Accident Cover.
The charge for this service will be 10% of the agreed policy price.
To provide a quote to you in order to obtain a quote from our insurance brokers we will need the following information about your school;
- Predicted date of conversion
- Numbers on roll
- Total school budget
- Total number of FTE staff
- Wage roll - teachers
- Wage roll - clerical
- Wage roll - other
- Number of vehicles owned
This data will then be used to obtain quotes for your buildings, contents, motor and liabilities insurances.
If you become an Academy part way through a year, you may be entitled to claim back part of your paid insurance premiums.
If you cancel your insurance with us, it is possible for you to get a refund - providing you have not made an insurance claim in that particular year.
We will refund the unused part of your policy subject to the cancellation scale below.
Refunds will be credited to the payment method you provided, and can take up to 14 days to be processed.
Upon cancellation, you will need to declare that you will destroy all copies of the Certificate of Motor Insurance relating to your policy (whether held in paper, electronic, digital or any other format) within seven days, in accordance with the Road Traffic Act 1988.