For educational institutions across Perth, Sydney, Melbourne, Brisbane, and Canberra, safeguarding assets, ensuring student and staff safety, and minimizing disruptions are crucial to effective operations.
BAU Risk’s Education Insurance offers tailored protection for schools, universities, and training centers, covering essential risks such as property damage, liability claims, and business interruptions. This comprehensive approach allows educational institutions to focus on providing quality education without concerns over unexpected setbacks.
According to the Australian Prudential Regulation Authority (APRA), professional indemnity claims in the education sector have increased significantly, with the average claim costing around $150,000. This underscores the need for comprehensive insurance coverage to protect against potential financial losses.
Furthermore, KPMG’s General Insurance Industry Review 2023 highlights that business interruption claims due to natural disasters can lead to substantial losses, often exceeding $1 million for affected organizations including educational institutions. This emphasizes the critical importance of having robust insurance to safeguard against such events.
Education Insurance through BAU Risk includes multiple vital protections to support stable and secure operations. Property insurance protects essential assets like facilities and equipment from damage or loss, a necessity for maintaining a productive learning environment. Public liability insurance addresses claims related to third-party injuries or property damage, particularly important in high-traffic spaces where student safety is a priority. Business interruption insurance provides financial stability during unexpected closures or disruptions, helping institutions recover smoothly. Additionally, professional indemnity insurance safeguards against claims of negligence or errors, crucial for maintaining trust within the educational community. For institutions with staff, workers’ compensation insurance covers on-the-job injuries, while management liability insurance protects leaders and executives from potential legal or financial risks.
To learn more about insurance solutions for educational institutions, you can Request a Callback or Contact Us.
Protects assets and equipment from damage or loss.
Covers third-party injury or property damage claims.
Provides financial support during periods when operations are disrupted.
Provides protection against claims of negligence or errors in professional services.
Covers medical expenses and lost wages for employees injured on the job.
Offers protection against claims related to management decisions and actions.
By investing in Education Insurance, companies can ensure they are protected against various risks, allowing them to operate smoothly and efficiently.
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Keeping your business covered, so you can keep business as usual.
BAU Risk Services Pty Ltd is a Corporate Authorised Representative (CAR No. 001308013) of Apollo Risk Services Pty Ltd AFSL 403727 and provides General Insurance and Risk Management Services to their Australia wide clientele.