Insurance Protection for Parishes - Glossary of Insurance Products
PROPERTY:
COMPOSITE RISKS PROPERTY INSURANCE
This policy covers physical loss or damage to Parish buildings and contents and insured property as a result of fire, explosion, natural disasters, theft, vandalism or accidental damage. Natural disasters covered include storms, wind, water, flood, lightning and earthquakes. The policy can also be extended to cover gross profits and additional costs to keep the Parish operating, fidelity guarantee, property in transit, machinery breakdown and electronic equipment.
CONSTRUCTION INSURANCE
This policy covers contract works (made up of contract price, material or items supplied by the principal and escalation allowance). The policy can provide cover on tools, equipment, temporary buildings, scaffolding, hoardings, formwork and false work, demolition, clearance and removal of debris, architect, engineers', surveyors' and consulting fees, construction machinery and existing permanent buildings or structures held in care, custody or control of the principal, contractor or sub contractor.
This policy has two expiry dates, the construction period expiry date and the maintenance period expiry date.
Where an existing building is being altered, extended, added to or renovated, the construction policy should include an amount to cover loss or damage to the existing building(s).
ELECTRONIC EQUIPMENT
This type of insurance covers repair or replacement costs to electronic equipment due to electronic, electrical or mechanical breakdown. The cover can extend to insure costs of reconstructing damaged data media and the increased costs of working for the use of substitute equipment in order to maintain business operations.
EMPLOYEE DISHONESTY (Fidelity Guarantee)
This type of insurance covers the Parish's money, negotiable instruments, goods or other property against theft, embezzlement or misappropriation by employees.
GOODS IN TRANSIT INSURANCE
This type of insurance covers property against loss or damage by the perils covered in the selected COVER OPTION whilst in transit anywhere in Australia by road transport, rail, sea, air or post.
MACHINERY BREAKDOWN
This class of insurance covers non-maintenance repair costs due to sudden damage.
Where larger valued items are insured separately, each item has a separate sum insured representing the estimated maximum repair cost and this is our limit of liability. More commonly, items are not listed and are all insured under a "blanket" policy in which case the limit of liability is the maximum amount payable for repairs for any one machine or item of plant.
A combination of Specified and Blanket cover is available.
MOTOR INSURANCE
Motor insurance can cover all types of sedans, station wagons, four wheel drives, utilities, tractors, trailers, buses and other registered vehicles against loss or damage. All drivers are covered, provided the driver complies with the terms and conditions.
The policy also provides $30,000,000 legal liability protection for damage to vehicles and other property belonging to third parties.
PLUVIUS INSURANCE
This policy is designed to reimburse the costs, expenses and non- refundable charges incurred for a fete, social or other fund-raising activity where rain would be likely to cause a reduction in support and income.
SPECIAL RISK INSURANCE
This cover is broad in scope and items are insured against loss, damage or destruction caused by any accident or misfortune arising from fortuitous circumstances unless the event or peril is specifically excluded by the policy exclusions.
A wide range of items such as sporting equipment, musical instruments, computers, mobile phones, camera's, jewellery, personal effects, sacred vessels and vestments, art, equipment of all sorts and bicycles can be covered.
Motor vehicles, motor bikes, water craft and aircraft or fixed property cannot be insured under this policy.
MAJOR PROPERTY EXPOSURES
Buildings and Contents (fire) Air conditioning (breakdown) Renovation (accidental damage) Personal Accident (Injury) Motor (accidents)
LIABILITY:
EMPLOYMENT PRACTICES LIABILITY INSURANCE
This policy covers the Parish as well as past and present Directors and Officers and all employees.
The policy covers the following:
- Wrongful refusal to employ an applicant for employment.
- Wrongful failure to promote an employee.
- Wrongful demotion, negligent reassignment or disciplinary action.
- Wrongful termination of employment, including constructive dismissal.
- Sexual harassment.
- Unlawful discrimination which may include discrimination on the grounds of race, colour, sex, sexual preference, age, physical or mental disability, marital status, family responsibilities, pregnancy, religion, political opinion, national extraction or social origin; and
- Oral or written publication of material that slanders, defames or libels an employee or violates or invades an employee's right of privacy.
The term wrongful is defined as meaning unfair or unlawful.
OFFICERS INSURANCE
There is a need for this class of insurance for claims made against Officers by reason of a wrongful act committed or alleged to have been committed in their capacity as an Officer of the Parish.
It also indemnifies the Insured against any payment it elects to make and is legally entitled to make in respect of any claim made against an Officer.
A wrongful act as defined by our policy is, "any actual or alleged breach of duty, breach of trust, neglect, error, misstatement, misleading statement, omission, breach of warranty of authority or other act done or wrongly attempted by any Officer.
Actions may be brought against Officers by, creditors, members of the public, the trade practices commissioner etc.
PROFESSIONAL INDEMNITY
This policy provides indemnity for claims arising from the rendering of or from failure to render professional advice or service or any error or omission connected with such advice or service.
The various sections of the policy are as follows:
- Breach of Professional Duty.
- Libel and Slander.
- Loss of Documents
- Fraud and Dishonesty.
- Automatic Reinstatement.
PUBLIC LIABILITY
This policy provides a wide range of cover to the Parish for sums which the Parish becomes legally liable to pay in respect of:
- Personal Injury.
- Property Damage.
- Advertising Liability.
The term personal injury most commonly refers to bodily injury, death, sickness, disability or mental anguish.
Property damage encompasses physical damage or loss of property along with loss of use of property even if the property in question has not been damaged.
Examples of advertising liability include libel, slander and infringement of copyright arising from the insured's goods, products or services.
The policy also provides cover for liability arising out of the client's products. "Products" means anything which is manufactured, constructed, erected, installed, repaired, serviced, treated, sold, supplied or distributed by the Insured (including packaging and containers) in the course of the business and after it has ceased to be in the physical custody or under the legal control of the insured. (for example for the Canteen , Kiosk or fete).
WORKERS' COMPENSATION INSURANCE
This class of insurance pays compensation to employees for injuries received during working hours whilst in the Parish's employ or for work caused illness , such as stress.
MAJOR LIABILITY EXPOSURES
Public liability (injury) Professional Indemnity (advice given) Employment Practices (wrongful dismissal) Workers Compensation (employee injury).
OTHER BENEFITS:
PERSONAL ACCIDENT INSURANCE
Catholic Church Insurances Limited provide a free Personal Accident insurance policy to Priests. It is just another way Catholic Church Insurances Limited endeavours to assist the Church to protect the Parish Priests who provide religious guidance.
This insurance provides lump sum and weekly benefits for events caused from an accident. The policy wording should be read carefully as it sets out the maximum compensation payable under the policy.
PERSONAL ACCIDENT FOR VOLUNTARY WORKERS INSURANCE
Voluntary Workers Personal Accident insurance provides personal accident protection to volunteers of the Parish whilst participating in such activities as cleaning, patient support, working bees, canteens and kiosk's help. Lump sum benefits are provided for accidents and typically it covers death, permanent disablement and other listed events. Weekly benefits are also available, as are limited medical expenses.
Cover generally is limited to people aged between ten and 80 years of age.
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