The AAR Insurance School Insurance Cover is designed for schools and other learning institutions.
The cover provides compensation for loss or damage to property, accidental injury or death to students, teaching and non-teaching staff as well as third-party liabilities.
Section 1. Fire and Special Perils
The property insured includes all buildings, swimming pools, furniture and fit- tings, food stock books, lab equipment, and contents of all description against the following risks:
Flood and storm
Explosion as a result of bursting
Section 2: Burglary (Break In) (This section CANNOT be taken without Section 1)
Under this section, we cover school property like furniture, beds, beddings, lab equipment, books, and food stuffs against loss or damage following forceful and violent entry into the school buildings.
This section does not cover theft by employees.
The key policy requirement is that there should always be a watchman on duty.
Section 3: All Risk This section CANNOT be taken without Section 1 & Section 2
Under this, the cover we provide is specifically for school computers and acces- sories, school laptops, photocopiers, fax machines, other portable laboratory equipment like microscopes, mobile phones belonging to the school and other electronic equipment.
The equipment will be covered against all risks subject to specified exclusions.
*The Indicative premium rate is 1% of sum insured.
Section 4: Public Liability This section CANNOT be taken without Section 1
We have designed the Public Liability Insurance to cover third party legal liability claims that may arise in and out of the schools premises.
Third Party Claimants are those persons other than employees of the school and students who after sustaining personal injuries and / or property damage, may claim against the school for liability arising from the loss.
Some of the injuries may result to death.
Section 5: Fidelity Guarantee This section CANNOT be taken without Section 1, Section 2, Section 3
Our Fidelity Guarantee will provide insurance against direct financial losses resulting from dishonest acts of specified employees in the course of employment provided that such acts are discovered within 6 months.
The policy will cover a maximum of two employees.
The key policy requirement is that there should be a reference letter from at least two previous employers.
Section 6: Students’ Personal Accident
The AAR Insurance Student Personal Accident Cover provides monetary compensation in the event of bodily injury sustained by the insured student.
The injury must be caused by violent, accidental, external, and visible means subject to the option selected by the insured and will compensate the affected member. Subject to the terms and conditions, the Student Personal Accident Cover will provide benefits under the following categories.
Permanent/ Total disability
Tuition expenses following an accident
Dental/Optical injury treatment
Emergency accidental medical expenses Artificial Appliances