Schools & Universities

At Sprezzatura Insurance we believe that according to traditional insurance practices, the level of exposures and risks for schools and universities are as follows:

Elementary School

Level of Risk Per-Line of Business: Low, Medium & High.

Automobile Liability: High- Accidents may cause heavy damage to vehicles and personal property.
Automobile Physical Damage: Medium
General Liability:(Premises and Operations)- Medium
Product Liability and Completed Operations: Medium
Professional Liability: High- Claims can be both frequent and severe.
Environmental Impairment Liability: Low
Workers Compensation: Medium- The most frequent injuries will be those sustained from slips, trips and falls.
Crime: Medium
Fire and Extended Coverage: (Property) Medium- Accidents may cause heavy damage to vehicles and personal property
Business Interruption: High- Exposure will be serious, due to the difficulty of finding a similar replacement facility.
Inland Marine: Medium
Boiler and Machinery: Equipment Breakdown: Low

Based on ISO, AM Best, and others, the recommended class codes for schools and universities are:

Standard Industrial Classification Manual (SIC) Codes and Classifications

8211 - Elementary and Secondary Schools

Secondary School

Level of Risk Per-Line of Business: Low, Medium & High.

Automobile Liability: High- Accidents may cause heavy damage to vehicles and personal property.
Automobile Physical Damage: Medium
General Liability: (Premises and Operations) High- Governmental immunity does not apply to private and parochial schools.
Product Liability and Completed Operations: Medium
Professional Liability: High
Environmental Impairment Liability: Medium
Workers’ Compensation: High
Crime: Medium
Fire and Extended Coverage: (Property): High- Accidents may cause heavy damage to vehicles and personal property
Business Interruption: High- Exposure will be serious, due to the difficulty of finding a similar replacement facility.
Inland Marine: Medium
Boiler and Machinery: (Equipment Breakdown): Low