April 30, 2020
COVID-19 and Insurance Considerations for
I reached out to a colleague in the insurance industry, David Andrade, President of Carey, Richmond, Viking Insurance in Middletown, RI, who has extensive experience with independent schools. I asked him what Boards should be paying attention to with regards to school insurance policies in the context of this COVID-19 crisis. Can schools possibly get any financial relief from filing claims for 'business interruption;' what additional 'risks' should be considered in light of distance learning, accepting PPP loans, etc.
David thought that the best way to provide some guidance on this issue was to create a brief that would highlight some of the important insurance considerations related to COVID-19. The attached 2-page guidance is direct and should be very helpful to Board Chairs as they work with their Head of School, legal counsel and/or insurance providers to make sure the school is protected and receiving any benefits they might be entitled to.
I hope you find it helpful.