Private Schools Tap Exclusive EPLI Insurance High Limits

Cost Considerations and Financial Planning

While high-limit EPLI insurance provides substantial benefits, it is essential for private schools to consider the cost implications. Premiums for such policies can vary based on several factors, including the size of the institution, the number of employees, and the school’s claims history. Schools should conduct a thorough risk assessment to determine the appropriate level of coverage and ensure that the premiums align with their financial capabilities.

Institutions can also explore various strategies to manage insurance costs. For instance, implementing robust human resources policies and training programs can reduce the likelihood of claims, potentially lowering premiums. Additionally, schools may consider working with insurance brokers who specialize in educational institutions to find competitive rates and tailor coverage to their specific needs.