Church Insurance John Scheffler Vice President, Client Services March 15, 2014
A fire insurance corporation organized for the Protestant Episcopal Church commenced operations yesterday at 14 Wall Street The first insurance plan will be optional It originates in the belief that the fire insurance rate on churches should be lower than any other structure because there is no moral hazard on a church These churchmen who are board of directors supplied all of the necessary capital. Taken from May 23, 1929 New York Times, article Episcopalians Form Fire Insurance Concern To Reduce the Cost of Policies on Churches 2
Church Insurance Company was founded in 1929 as the The Church Properties Fire Insurance Corporation A Brief History The Church Insurance Co. was founded in 1929 as The Church Proper8es Fire Insurance Corpora8on. The first Board was composed of ten (10) prominent Episcopalians. They were all white males generally in middle age. Many were captains of industry who had also served in high level government posi8ons. To help fund the insurance company, the original board members personally contributed capital to the new company. Ini8al capitaliza8on was $300,000. 3
The Mission Of The Company The object of The [Church Properties Fire Insurance] Corporation is to reduce as low as possible the cost of fire insurance to the Episcopal Church The handling of losses will be sympathetic and tactful, the Corporation considering always the best interest of our Church In time it is to be hoped that the Corporation can, through its specialized knowledge, cooperate so effectually with church as to reduce the fire hazard Times June 1929 From The Church Today, the mission of the company remains essentially unchanged- serve the church through superior products and services; specialized knowledge; and deep understanding of client needs. 4
CIC s value added products and services beat competition in serving the church Products Higher limits- Misconduct, Directors & Officers/Employment Practice Liability (D&O/EPL), diocese blanket, fine arts, ordinance or law, etc. Automatically Included Coverages- Flood, Property Terrorism, D&O/EPL, Fidelity, and Umbrella Liability (in 2013) Services On-Site Visits and Walk Through of Property- 3,500 visits per year by CIAC staff Episcopal Safety Program- 1,200 safety inspections completed and recommendations provided. Funded by CIC-VT Safeguarding On-Line- 32,000 active users and 130,000 courses completed. Background screening support added to program in 2012 The Good Steward- An e-newsletter that currently provides risk management information on a broad range of subjects to 25,000 subscribers with a 50% open rate. 5
The Church Insurance Companies The Church Insurance Company formed in 1929 to provide fire insurance for Episcopal Churches The Church Insurance Agency formed in 1930 to provide commercial insurance products to any Episcopal Institution The Church Insurance Company of Vermont formed in 1999 to provide property & liability coverage to Diocese, Churches & Missions in all states except New York The Church Insurance Company of New York formed in 2006 to provide property & liability coverage to Diocese, Churches and Missions in the state of New York 6
Church Insurance Clients Diocese, Parish, Missions & Outreach Camps & Conference Centers Social Service Agencies Schools Colleges & Seminaries Retreats Convents & Monasteries Assisted Living & Nursing Homes 7
Products Offered Property underwritten as a Diocesan limit to reduce the possibility of a church being underinsured at time of loss Liability large limits and broad coverage such as sexual misconduct coverage to protect the church and diocese Directors & Officers Liability protecting the Vestry for decisions they make on behalf of the church Employment Practices Liability covering accusations of wrongful termination, discrimination and sexual harassment 8
Products Offered Umbrella Liability a national program providing additional varying limits of liability through Church Insurance of Vermont Workers Compensation providing statutory limits through Liberty Mutual Insurance Commercial Auto national fleet auto program written through Liberty Mutual Insurance International Travel covering trips outside of the United States underwritten by American International Group 9
Risk Management Services American Appraisal Associates provides appraisals every five to seven years at no cost to the diocese ESP Episcopal Safety Program is a proactive approach to making churches a safer place to worship by focusing on inexpensive changes that improve safety GE (GAPS) loss control or engineering services are provided in rare cases where we have concerns about structural integrity Hartford Steam Boiler provides systems inspections and surge protection 10
Claims Our goal is to get you back to pre-loss condition as quickly and efficiently as possible In the event of a serious claim, an advance payment is made Expenses for continuing normal operations at another site are immediately available Prayer books and hymnals are replaced within 48 hours of being notified of the loss Claims under $10,000 are fast-tracked and usually closed within 30 days 11
Nationwide Service 12 Client Representatives answering service calls and completing coverage reviews 10 Vice President Client Services available for face to face visits 6 Underwriters and 5 Billing Specialists providing proof of coverage and answering invoice questions 8 Claims representatives available 24 hours, seven days a week 12
How to Reach Us For Customer Service: (800) 293-3525 For Claims: (800) 223-5705 Certificate of Insurance Requests: Email: CICVTCerts@cpg.org Fax: 802-753-1385 13