Brit Insurance has launched a new package policy designed specifically for the needs of the US higher education community.
The product will be distributed exclusively through the group’s US service company, based in Illinois and will be underwritten on an excess and surplus lines basis on behalf of the its Lloyd’s Syndicate 2987.
According to the Brit Insurance, the policy will provide property and liability coverage including auto, educators legal liability, campus security activities and student practices liability in addition to workers compensation and crime coverages in a single all lines aggregate program with clash coverage provided as standard.
Enhanced property and liability terrorism coverage also been added to the new policy.
In addition, colleges and universities will receive automatic access to a customized web-based risk management system that will provide online content and training modules which reflect their own risks.
Provided by in2vate, the training platform known as TEAM (train, educate and manage) allows risk management policies and procedures to be uploaded, EPLI and regulatory mandated training courses to be completed and accurate training records to be maintained.
Brit Insurance Services USA executive vice president Nick Davies said Brit has specifically developed this new product to address the unique exposures of public and private colleges and universities.
"Its efficient blend of risk retention, risk management and risk transfer will allow the higher education community to unlock significant benefits, including access to our unique TEAM platform," Davies said.