"Over the past five years, The O'Neill Group has provided us with a professional service relationship and a unique sense of friendliness and compassion. They've understood the diverse environment of a charter school, in addition to realizing the financial constraints of a newly established entity. The O'Neill Group was not only very responsive in providing for our insurance needs; they offered it at a resonable cost" -Ron King, Business Manager, Eagle Heights Academy, Youngstown, OH

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The Seven Deadly Sins to Avoid When Buying Charter School Insurance
What your current provider may not be telling you - because they may not know!

With lawsuits against schools like yours on the rise, I felt obligated to put together the facts about the coverage you need in this free report. The plain truth is this: Charter Schools have special needs, and the wrong type of coverage could leave you exposed to a number of disasters. Avoid these Deadly Sins and stay strong!

Read this special report and discover how you can protect yourself and your organization - and save time, money, and embarrassment.

Deadly Sin #1
Not Having the Right Coverage for School Board Members
Don't let Lawyer Fees Drain your Limit and Leave you out in the cold!

You might think your liability limits are sufficient. However, unless your D&O policy has "Defense Costs in Addition to Limits" coverage, payments of defense expenses can completely erode your liability coverage. Let me explain. Say your Liability Limit is $1,000,000. Without Defense Costs in Addition to Limits coverage, if $250,000 is paid to attorneys to defend a lawsuit, the amount of coverage you organization has left to pay any judgments is now $750,000. Now what if legal fees were $500,000 or more? It can happen, believe me.

What would you be left with except mounting legal bills, the possibility of a huge settlement exposure, and board members left personally liable? Since most policies have a yearly aggregate limit (no matter how many claims are reported), what is left after the legal bills are paid could be the amount you have left for the whole policy year. As defense costs increase, the remaining amount of your liability insurance decreases. With "Defense Costs in Addition to Limits" coverage, a $1,000,000 limit stays at $1,000,000 no matter how much your legal bills are.

Deadly Sin #2
Not Having the Right Coverage for Teachers, Volunteers, Employees and Professionals.
Don't Let Lawsuits Drain Your Most Valuable Assets

Does your policy provide adequate limits to cover your employees for bodily injury arising out of professional services provided by your school. Most polices do not provide this coverage. What if a nurse, psychologist or counselor provides inappropriate advice of instructions and your student is injured. Are you covered properly? Does your school engage in any advertising, broadcasting or telecasting. Standard policy won't even touch this coverage.

Make sure your teachers, substitutes and volunteers have coverage arising from wrongful acts committed during the performance of their duties. This coverage is written on a "claims-made basis". If you aren't very careful, the coverage you thought you had for an act occurring a fews ago and reported to day, may be uncovered. An expert in Charter School Insurance can point out the pitfalls in most standard policies and eliminate dangerous GAPS in your program.

Deadly Sin #3
Getting protection that really doesn't protect you at all!
Admitted vs. Non Admitted Companies

Admitted companies are those that have filed and received approval of their policies and applications with the State Department of Insurance. If an admitted insurer were to cease to operate, you could turn to the State Insurance Guaranty Fund for payment of claims. A Non Admitted insurer does not file their policy or applications with the State but instead pays a surplus lines tax. If a Non Admitted insurer ceases to do business, their insured's CANNOT turn to the State Guaranty fund for payment. This means they get stuck holding the bag.

Deadly Sin #4
Not Having The Right Coverage for Your Students
Don't Let an Injury to a Student Come Back to Haunt You!

You purchase insurance to protect you from unknown claims. However, if you have a policy that doesn't fully protect your students, you could be open for huge financial losses. Most programs don't offer this coverage, but that doesn't mean you have to go without it! Read the fine print! What if a student is injured at recess or trips running in the halls.Who is responsible? Who will pay to have the cast put on the little one's arm. What will the parents say when they get the bill! Always look for a program that provides student accident coverage. Full accident coverage will respond to all claims that arise out of an accident involving your school.

Deadly Sin #5
Not Having a Financially Strong Insurance Company
Insurance Company Rating is Critical to Your Survival

Just like in school, Insurance Companies are given a grade. Think about the grades you received in high school or college, A,B,C,D,F. Insurance companies are given a financial report card by the A.M. Best Company. Anything less than an A is a problem for the insurance company. They may not have the ability to pay their claims when they come due. Since the aftermath of September 11, 2001, the problem has only gotten worse. Ask your agent what the ratings are on all the companies providing coverage to your school. The results may astound you!

Deadly Sin #6
Not Having The Right Entities and Individuals Covered
Who Is Covered, and What Is Not!?

"We paid the premium, but we're not covered?" This is a common response from organizations who don't know about this important detail. Believe it or not, the organization may not be covered except to the extent that it is required to reimburse the Directors and Officers in accordance with the Bylaws. Make sure your organization's policy definition of "Who is insured" includes the entity itself, in addition to Directors, Officers, Trustees, Employees, Volunteers, Staff Members and Committee Members, whether salaried or not.

Deadly Sin #7
Choosing the Wrong Insurance Agent
Your Special Needs Require Special Expertise

As strange as this may seem, your biggest problem might be your current insurance agent or broker. Not that he is not trying to do a good job, but if he does not handle Charter School insurance on a day to day basis, he is out of touch with a marketplace that is changing day to day. Keeping up with the Charter School Industry is a full time job.

You don't consult an orthopedic surgeon for a heart condition. You don't want an auto mechanic working on the airplane you will be flying in. Why trust a complicated insurance coverage like Charter School Liability Insurance to someone who isn't a specialist in this area? This has nothing to do with an agent trying to "do a good job." It has everything to do with handling Charter Schools on a daily basis and having the crucial expertise and experience to make sure you are covered. Charter School Insurance is complicated. Keeping up with current trends, legislation, and your specific needs is a full time job.

Ask your agent if insuring Charter Schools is what they specialize in. If they aren't a specialist, you may be lacking important coverage and putting your organization at risk.

The Charter School Insurance Center -
The Experts in Charter School Insurance.

A Division of The O'Neill Group

111 High St. Suite 201
Wadsworth, Ohio 44281
Toll Free Phone 1-800-334-1561
Toll Free Fax 1-877-810-3030
email info@charterschoolinsurance.com

The purpose of this report and all other information provided by the Charter School Insurance Center is to help you make informed decisions about your organization's insurance needs. No coverage is ever bound or implied unless confirmed by the Charter School Insurance Center. The information presented is subject to local laws and regulations. Every effort is made to ensure that this report is based on the current status of Charter School Insurance Center guidelines, however, refer to your local governing bodies for any recent changes.