5 minute read
CONTENTS INSURANCE
What’s covered by the Ministry of Education and where to go elsewhere
The Ministry of Education can provide contents insurance for schools across New Zealand – what it does and doesn’t cover is a surprise to some educational institutions, and if your school isn’t covered, you can be left out in the lurch.
With the ministry’s Risk Management scheme, contents insurance for your school covers items such as textbooks and rugby balls, but it doesn’t extend to things such as vehicles – including vans, cars, tractors and ride-on mowers – and you need to arrange separate insurance for them.
It’s a legal obligation for your school’s board of trustees to arrange contents insurance to cover your school for damage or loss of contents. Essentially, all school assets other than the land and buildings owned by the Crown must be covered.
Automatically when new schools are established, they are made members of the new scheme. If you’re an existing school, you can join at any time of the year. (Note: if you’re a new school and in the establishing phase, no levies are charged – they begin incurring once the school is open and operational).
School vehicles, such as vans, cars and ride-on mowers, are not covered by the Ministry’s Risk Management Scheme. For everything else not covered by the Ministry of Education, you want to ensure your school’s assets are in safe hands.
Marsh has provided a school insurance programme exclusively designed for school assets and property not covered by the Ministry of Education. During this time, the company has learnt a lot about Ministry of Education (MoE) schools and their unique risk issues.
The Marsh Ancillary School insurance programme provides insurance for:
• Overcode, board of trustees and community owned buildings • Property assets, which are used for school and community purposes, but not insured by the MoE • Motor vehicles like school vans and cards
• Marine hulls like rowing skiffs, sailboats and kayaks • Travel (overseas cover for pupils and staff on educational or study trips) • Domestic dwellings cover for houses that are the responsibility of the school to insure
• Studentsafe International Pathway (travel and health insurance policy available exclusively for school and college students travelling to New
Zealand to study) • Cover for alterations to existing buildings or construction of new buildings not insured by the MoE. Marsh provides protection focused on dealing with exposure to physical, consequential, legal, management, financial, and reputational risk – drawing on a bespoke portfolio of innovative insurance solutions and risk management services that meet the specific requirements of your educational institution.
The result: Boards and governors can rest assured that critical risks have been identified and addressed and the total cost of risk has been minimised.
Marsh’s global education practice represents more than 15,000 institutions, which equates to the placement of more than 4,000 education polices which form the basis of the company’s education sector and benchmarking analysis. Marsh has developed a suite of risk and insurance services that addresses challenges that modern schools encounter today. It represents a large number of schools and colleges in both Australia and New Zealand, including schools affiliated with churches.
What are my school’s options for contents insurance?
1. Your school arranges for its own cover from a private insurer. 2. Your school asks to be covered by the Ministry’s Risk
Management Scheme.
How does my school pay for contents insurance?
Whether you choose to arrange your own contents insurance or get coverage from the Ministry’s Risk Management Scheme, you pay for insurance premiums using your operational funding. If you choose to go into the Risk Management Scheme, levies for the scheme get taken out of your operational funding each quarter on a per student cost.
For more information about the Ministry of Education’s Risk Management Scheme, visit www.education.govt.nz or contact National Ministry of Education Office at enquiries. national@education.govt.nz or by phone at (04) 463 8000. For more information about Marsh’s Ancillary School insurance programme, visit www.marsh.com/nz or call 0800 627 744.
From Contents and Liability to Overcode Property and Vehicle, we have a team of professional brokers who are equipped to provide you with risk solutions fit for your business needs.
To find out more or for a quote, call us today 0800 29 30 31
REGISTER YOUR SCHOOL FOR FREE ACCESS TO NZ HERALD PREMIUM.
The NZ Herald is giving all registered primary, intermediate and secondary schools in New Zealand free access to NZ Herald Premium.
While on-site and connected to the school’s internet, students and teachers will have full access to all content at nzherald.co.nz, including Premium articles.
So far, nearly 330 schools across New Zealand have taken up the free access including Cashmere High School in Christchurch. Cashmere’s Physical Education and Health teacher Pete Smith says NZ Herald Premium content is being accessed across all departments.
“In Social Sciences it’s being used by students investigating and reflecting on current global and international issues, in technology for articles on food and hospitality tech, food sustainability and innovation. “In Year 13 Health we’re using NZ Herald Premium constantly for all topics. In one assessment the Year 13s are looking at the impact poverty has on children and their health and well-being. NZ Herald has a large number of articles that relate to these issues,” said Smith.
While the majority of the news content created by Herald journalists is freely accessible at nzherald.co.nz, NZ Herald Premium houses unique and exclusive local journalism with investigative reporting and critical analysis of New Zealand’s political, business and economic landscapes.
“Giving young New Zealanders access to more quality journalism delivered by local and trusted reporters hopefully helps teachers foster curiosity, critical thinking and will help combat the scourge of fake news. I also hope it will encourage more young Kiwis to consider a career in journalism,” says NZ Herald Head of Premium, Miriyana Alexander.
Miriyana Alexander, NZ Herald Head of Premium
NZ Herald Premium includes:
Trustworthy, in-depth and award-winning journalism. Investigative opinion and insightful articles about New Zealand. A selection of first-class content from global publishers. Commenting on selected articles.
