Presented byAIM

Client Relations Specialist

To protect against the unexpected

To transfer risk or financial burden

To protect the assets of the PTA and the personal assets of it’s members

To protect your property (Popcorn machine, fundraiser merchandise, school store supplies, etc)

Insurance will pay attorney fees to defend you and your fellow board members

The event must be VOTED on by PTA

The event must be APPROVED by PTA

The event must be SCHEDULED by PTA

The event must be PLANNED by PTA

Majority of the manpower must be PROVIDED by PTA MEMBERS

General Liability

Accident Medical

Fidelity Bond

Property Insurance

Officers Liability

•Just because it’s called “General” does not mean

you have coverage for everything!

•Covers lawsuits arising from bodily

injury/Property damage

•Minimum policy limits: $1,000,000

•Activities to be covered under General Liability policy:

•Roller Skating Parties•Dances•Carnivals•Fun Runs•Auctions•Concession Stands

•Things General Liability does NOT cover:•Aircraft•Transportation•Bungee Jumping•Hot Air Balloons•Workers Compensation•Organized Sports•PTA money•Property bought for the school

*Visit our website www.aim-companies.com under Resources for a detailed list (Covered/Excluded List)

Suggestions to help protect YOU:•When using vendors or contractors

•Make sure you see a current copy of their Certificate of Insurance

•Have them sign a Hold Harmless Agreement

•Take a list of the events you plan to have during the year and have the Risk Manager or Superintendent sign off on each item to show the school is offering coverage

* Visit our website www.aim-companies.com under Resources (Risk Management Guide)

•Accident Medical is only made to compliment the General Liability policy, NOT to replace it

•Designed to pay out of pocket Medical bills ONLY not liability

•Provides additional medical coverage for injuries sustained at a sponsored PTA event

•General Liability coverage automatically comes with $5,000 limit at no cost.

•Additional coverage limits are available at $10,000, $25,000 and $50,000 for additional premium.

•Protects the cash or cash equivalents of the PTA against embezzlement, robbery, and theft•Includes: Cash, Travelers Checks, Scrip •Anyone who handles money should be covered by a crime policy

•Look for a policy that is a “blanket policy” to cover not only the treasurer, but anyone who handles PTA funds•Common limits for bond policies: $10,000, $25,000 and $50,000 (higher limits available, please call)•Safest practice to determine limit needed: Take your annual budget and carry a bond for that amount

Requirements for bond coverage:

Monthly bank statements need to be reviewed and signed each month by someone who does not have authorization to sign checks (printed e-statements are fine)

Annual audits (financial reviews) must be conducted by an audit committee or qualified accountant

Signed monthly bank statements and annual audits need to be retained on file and available for review if needed.

Money should never be kept at home

Two people should always count money and both should sign

receipt verifying the amount

Never sign a blank check

Look for checks out of sequential order on bank statements

Never make a check out to cash

Put money in the bank ASAP

Question checks made out to non-approved vendors

Property

Items not covered by property policies:•School computers•Playground equipment

*Once items are no longer in your Possession, it is no longer your Property*

Covers items that the PTA purchased and in their CARE, CUSTODY, and CONTROL:Popcorn MachinesFundraising MerchandiseAuction ItemsSchool Supply StoreSpirit Wear

Protects PTA board members if named in a lawsuit for mismanaging or misrepresenting their group Covers:

Mismanagement of fundsMisrepresentationDiscriminationActions detrimental to the community

Does NOT cover intentional acts, dishonesty, or willful/reckless behaviorWill pay your legal bills & provide protection against certain allegations