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ERIC North

The Educational Risk Insurance Consortium (ERIC North™) is a property and casualty insurance purchasing group for New Jersey public schools.

The Beazley coverage terms and conditions along with enhancements not on the expiring AIG policy form. 

The Beazley Policy includes:

  • Limits of $1M/$1M with a deductible of $10,000, EXCEPT for Microbial Matter, which has a $100,000 deductible (similar to expiring – see below);
  • Coverage for New Pollution Conditions for Cleanup costs, and BI/PD commencing after the Policy Inception Date of 7/1/2016;
  • Coverage for Existing Pollution Conditions coverage for Cleanup costs, and BI/PD commencing after the Retroactive Date of 2/18/2015  (same as expiring);
  • Coverage for Transportation and Non-Owned Disposal Sites commencing after the Retroactive Date of 2/18/2015  (same as expiring);
  • Definition of Pollution Condition includes Microbial Matter (fungi, mold or mildew), legionella pneumophila, medical infectious and pathological waste, low-level radioactive waste, and illicit abandonment (aka “midnight dumping”), as well as other items;
  • Primary Insurance Clause (in policy form);
  • 100% MEP (same as expiring)

Enhancements over expiring:

  • Business Interruption and Extra Expense coverage with 3-day deductible and 0% co-pay (no BI coverage on AIG policy).  Coverage includes relocation expenses and cost to equip and operate the temporary locations;
  • Additional Insured endorsement – to the extent required by written contract;
  • Definition of Transportation includes Off-Site Travel;
  • Definition of Covered Location includes Easements and Right of Ways;  
  • No endorsement excluding ‘Failure to Maintain Abandoned, Sold, or Discarded Properties’

Commission and Fees:

  • 8.5% AJG Environmental Team and 8.5% named broker  for a total of 17% commission
  • The Educational Services Commission of New Jersey Administrative Fee is 3%. The standard commission paid to brokers was reduced by 3% to cover this fee. The Commission will not be billing members for this fee instead we will be passing this fee on to our members as a value added service.
  • The minimum premium is $5,000.00 actual premiums will be based on building sizes.

What are the next steps?:

  1. AJG Princeton clients- we have completed the underwriting process and received the Beazley 7-1-2016/17 Proposals all but one of which are very close to the AIG expiring premium and we are ready to renew for 7-1-2016/17;
  2. Non-AJG Brokers and/or Co-Op participants not insured with AJG
    1. The Broker just has to complete the attached application and send it to Mr. Carl Varteresian, Area Vice President at Carl_Varteresian@ajg.com for processing. Upon receipt of an application, the broker would sign and date the quotation and the TRIA acknowledgement form, prior to policy issuance.

Documents from the October 17, 2019 Erik North Meeting

Educators Professional Liability Program

Schools Liability - Claims Alleging Child Sexual Abuse

Legally-Compliant-IEPS and Strategies for Handling IEP Disputes and Poptential Litigation

NJDOE Frequently Asked Questions -Recess Law P L 2018-c-73

State of NJ P-L-2018-c-5-Frequently-Asked-Questions

State of NJ Sexual Misconduct-Child Abuse Disclosure Information Request

State of NJ Sexual Misconduct-Child Abuse Disclosure Release

Chapter 204