Critical Issues In Independent School Risk Management and Insurance CAIS Trustee/Head Conference, January 26, 2008 Presented by Bolton & Company—Ron Wanglin, CIC, Chairman of the Board and Cheryl McDowell, ARM, CSRM, CISR, Vice President, Education Practice Group
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Critical Issues In Independent School Risk Management and Insurance CAIS Trustee/Head Conference, January 26, 2008 Presented by Bolton & Company—Ron Wanglin,
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Critical Issues In Independent School Risk Management and
Insurance
CAIS Trustee/Head Conference, January 26, 2008
Presented byBolton & Company—Ron Wanglin, CIC, Chairman of the Board and Cheryl McDowell, ARM, CSRM, CISR, Vice President, Education Practice Group
Understanding Risk
• Inherent in what schools do
• Unavoidable no matter how much risk management you employ
Understanding Risks
• Academics• Arts• Athletics• Co-curricular• Ethics/Character• Safety and
• Playgrounds• Dormitories• Cafeterias• Science labs• Arts facilities• Technical shops
(drama, woodworking, etc.)
• Security
Apparent Risks
• Fire• Flood• Earthquake• Hurricane• Tornado
• Theft• Auto accidents• Trips/falls• Death• Dismemberment
Less Obvious Risks
• Independent Contractors
• Employee use of school equipment or facilities
• Leased Equipment
• Pollution
Risk Management Responses
• Avoidance
• Prevention
• Reduction
• Transfer
• Assumption
Risk Management Methods
• Insurance• Education• Safety Procedures• Supervision• Elimination of hazards• Proper Maintenance• Proper planning of activities• Use expert advice as needed• VIGILANCE
Risk Management and Leadership
• Begins at the Board Level
Risk Management and Leadership
“There is no way a board can establish sufficient policies and procedures in order to eliminate all risk and resulting law suits. But a school can manage risk to keep litigation to a minimum. The board’s role is to ensure that the appropriate institutional and operational policies—such as personnel, student activities and behavior, crisis management, and financial management—are in place and that the school is following those policies and the resulting procedures every day in a consistent, fair manner”.
“…..the best protection against a suit is an active board of trustees that exercises its governance role with great care.”
NAIS Trustee Handbook
Risk Management and Leadership
• Begins at the Board Level (Cont.)
Policies & ProceduresFunding for staffing, maintenance and
repairsAnnual reporting requirement on update of
risk management programs
The Independent School Board of Trustees
Whereas, The Board of Trustees reaffirms that the development and implementation of a disaster preparedness plan and disaster recovery plan is essential to creating the optimal environment to safeguard the students, families, faculty, staff and visitors against illness and injury, and
Whereas, The Board of Trustees recognizes the need to develop s sound business continuation plan to respond to disasters and other catastrophic events to secure the financial stability and security of the school over the long term,
Therefore Be It Resolved, That the Board of Trustees hereby directs the school leadership to develop and implement the above plans using all reasonable means and resources, both internal and external, by January 1, 2007, and all such plans will be reviewed not less than annually to determine their appropriateness to meet the current and future needs of the school.