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C7 Insurance

Page history last edited by Bonnyville Baptist Church 5 years, 10 months ago

 

DATE:

March 2014

Finance

REFERENCE

    C7

REVIEWED/

REVISED:

 

 

Insurance

 

 

SECTON ONE:   PURPOSE

 

To ensure that sufficient property and ministry insurance coverage is maintained.   Ministry insurance protects the church and its leaders from personal liability costs in the event of a claim against the church and/or any of its leaders.  

 

 

SECTION TWO:  PRACTICE

 

1.         The Administrator serves as the contact person for our insurance broker and is to keep the administration team apprised of our coverage so that the Team can determine if the insurance is adequate to meet the church’s needs.

 

2.         Incidents where there is or may be the need to put in a claim are to be relayed to the Administrator who is to notify the insurance broker.

 

3.         In the event of an incident arising out of the church’s Plan to Protect or where there is risk of a claim being made or potential lawsuit, the Board Chairman is to contact the insurance broker directly.

 

 

SECTION THREE:  PROCEDURES

 

1.         The insurance broker provides renewal documents to the administrator in sufficient time to allow for no lapse in the church’s coverage.   The Administrator is to complete the documents and obtain the necessary signatures on any that must be signed by Board Chairman or other officer.

 

2.         The Administrator is to keep an up to date inventory of all equipment belonging to the church and is to provide an updated copy to the insurance broker when requested or when there are a number of changes to the inventory.

 

3.         The insurance broker is to be notified when the church purchases any expensive equipment or where there is a high risk factor in the use of the equipment (e.g. bounce houses – the insurance required the church provide a safety protocol).

 

4.         The Administrator is to forward an electronic copy of the insurance renewal documents to the Administration Team.

 

5.         Insurance documents are to be printed and copy retained as permanent records.  (C/R Records Policy, B4).

 

 

 

 

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