1. Understanding coverage
Presented by:
Graham Barham

2. Insurance Insurance is just a part of the risk management process.
Good Loss Control seeks to prevent avoidable losses.
Preventive Maintenance.
Good Safety Practice.
Staff training.
Following legal guidelines.

3. Principles of Insurance
Premium contributions from many, help fund a major loss.
Insurance seeks to restore an individual or institution to the position they were in before the loss occurred.
Assumes property is insured to full value.
Not a substitute for proper maintenance.

4. Why is Property Insurance Important?
Stewardship
Allows the Lord’s work to continue even if a loss occurs
Safeguarding the Lord’s assets
Peace of Mind
Know you can replace a loss

5. Statement of Values
Statement of Values for each entity covered by Conference Property Policy
Building & Contents limits
Floater Limits

6. Builders Risk Coverage during the course of construction
Amount of coverage shown should be estimated value at buildings completion
No contents coverage on BR

7. Protection From Fire Smoke Explosion Windstorm Lightning Ice or Sleet
Hail
Sprinkler Leakage
Vandalism
Theft
Burglary

8. Inventory of Contents Inventory list kept off premises
Video tape of each room

9. Business Income Extra Expense
Not shown on SOV unless amount other than basic GBP100,000 is elected
Would pay for loss of income when unable to operate due to covered loss
Extra expense associated with covered loss

10. Personal Effects of Others
Employees/Officers/Partners
Coverage is GBP25,000 per employee
Must be on premises for business use
Students/Campers
Coverage is GBP5,000 per student/camper with a GBP100,000 limitation per occurrence (Excludes theft)
Excess over any other insurance

11. Property Not Covered Animals, unless listed. Motor Vehicles.
Underground pipes, flues or drains
Fraud/Dishonesty
Accounts, bills, currency, deeds, evidence of debt.
Animals, unless listed.
Motor Vehicles.

12. Exclusions Wear & tear Faulty and defective design & workmanship
Mysterious disappearance
Renovation damage
Governmental Action
Nuclear Hazard
War and Terrorism
Pollution
Property in the course of demolition
Earthquake
Flood

13. QUESTIONS?

14. GENERAL LIABILITY COVERAGE A
- The policy will pay money the insured became Liable for as “bodily injury” or “property damage” which was caused by an occurrence in the coverage territory and during the policy period.

15. GENERAL LIABILITY COVERAGE B
The policy will pay money the insured becomes Liable for as “personal injury” or “Advertising injury” in the coverage territory and during the policy period.
The personal injury must be caused from an offense arising out of the churches business.
The advertising injury must be caused by an offense committed in the course of the churches business.

16. GENERAL LIABILITY COVERAGE C
The policy will pay for Medical Expenses for bodily injury on the premises (owned or rented).
The expenses must be reported and incurred within one year.
Coverage is limited to GBP1,000.

17. EXCLUSIONS UNDER THE CGL POLICY
Contractual liabilities
Intentional Acts
Workers Compensation
Nuclear Energy
Pollution
Aircraft and Watercraft
Mobile equipment

18. EXCLUSIONS CONTINUED Property you own or rent.
Colleges and students (coverage C)
Employers Liability
Sexual misconduct and/or molestation
War
Organized Competitive Sports
High risk activities (IE: rock climbing, hang gliding, trampoline equipment).

19. QUESTIONS?