A5400.00 Insurance Coverage-Property, Casualty, Liability and Employee Benefit Program

Statement

The College shall procure fire and extended coverage insurance on the buildings, furnishings, machinery, equipment and other personal property used for community college purposes.

The College will procure comprehensive liability coverage to protect employees, volunteers, and Board members against negligent or wrongful acts for all areas of activities, i.e., premises, transportation, business travel, professional errors and omissions, and workers’ compensation exposures.

Employees shall be bonded on a personal basis where necessary; a blanket employee dishonesty bond shall be procured to encompass all employee exposures.

The College shall also procure and manage the employee benefits programs, including but not limited to health, dental, life and accidental death and dismemberment policies.

All insurance will be purchased from a company or companies authorized to write such insurance in the state of Illinois.

The Board may, from time to time, employ an insurance consultant to determine risk, recommend coverage, and assist in securing such coverage.

New Policy:  July 2016