Translate INSURANCE–EZE INTO BUSINESS–EASE
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Employee Benefits Plan Liability
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Financial protection and legal defense against lawsuits arising specifically from actions on behalf of your school. Our program combines a variety of professional liability coverages into one policy which provides: • Liability Coverage for Directors and Executive Officers • Professional Liability/Wrongful Acts Coverage for Educators • Employment Practices Liability Coverage • Employee Benefits Liability Coverage
This insurance covers the costs of certain lawsuits against you or your teachers.
The date on which an insurance binder or policy goes into effect, and from which time protection is provided.
The date your insurance coverage begins.
Unauthorized access or entry, or attempted access or entry, to computer facilities and/or computer-based data, including unauthorized attempts to breach security techniques set up to protect a computer system as well as unauthorized experimentation with system hardware, software, and communications systems. This definition applies whether or not there is any intent to obtain, alter, or destroy specific information.
Successful or unsuccessful attempts to “hack” into a computer or its contents, whether you change anything or not.
Protects the insured employer against claims by employees or former employees resulting from negligent acts or omissions in the administration of the insured's employee benefits programs.
The term “employee benefits programs” is defined to include group life insurance and group accident and/or health insurance; profit sharing plans; employee stock subscription plans; and workers' compensation, unemployment insurance, social security benefits, disability benefits, etc.
Coverage is intended to extend to the “administration” of these plans, including counseling employees, interpreting employee benefits programs, handling records, enrolling/terminating/canceling employees in specified plans on a timely basis, etc.
Insurance that protects you if someone claims you mishandled the administration of an employee benefits program.
This commercial crime insurance covers the loss of money, securities, and other covered property because of any dishonest act of a covered employee or employees. This a broad term for insurance that protects an employer from an employee who takes money, securities or other property. Included are employee dishonesty, forgery, theft, robbery, burglary and fraud coverages.
Protects you if your employees steal from your business or customers.
There are many circumstances which require that a policy be changed, e.g., change of name, addition of property, change in coverage. Such changes are made by attaching to the policy an endorsement, a form bearing the language necessary to record the change.
Any written change to a policy that states certain terms and, when attached to the original policy, becomes a legal part of that policy.
This term is generally used to refer to coverage for liability arising out of errors or omissions in the performance of professional duties other than in the medical and legal profession. It would apply to services such as engineering, banking, accounting, insurance or real estate.
Insurance that protects the insured from lawsuits for making a mistake or forgetting to do something while performing professional services.
A policy or bond covering the insured against certain hazards, and applying only to loss or damage in excess of a stated amount. The risk of initial loss or damage (excluded from the excess policy or bond) may be carried by the insured himself, or may be insured by another policy or bond providing what is known as “primary insurance.”
Coverage for damages over and above those of specified primary policies.
A provision of an insurance policy or bond referring to hazards, circumstances or property not covered by the policy.
Conditions or circumstances, listed in the policy, for which the insurer will not provide coverage.
Refers chiefly to the state of being exposed to loss because of some hazard or contingency, such as an adjoining property from which a fire could spread to the property in question. It is also used as a measure of the rating units or the premium bases of a risk, e.g., an exposure of 15 vehicles, or a payroll exposure of $400,000.
Being at risk of loss because of some hazard or contingency.
A form of time element insurance that provides reimbursement to the insured for the extra expense reasonably incurred to continue the operation of a business when the property has been damaged by a cause of loss covered by the policy. It is not to be confused with business interruption insurance because it does not protect against interruption of business.
Pays for the additional cost a business incurs in order to continue operations or get the business up and running sooner (for example, rent for a temporary location, employee salaries, bills that still have to be paid regardless of the loss, etc.).
The definitions contained herein are for informational purposes only,are not intended to be all inclusive, and may not apply in all situations. You should not rely on these definitions for interpretation of policy coverages, terms and conditions.