Summary

Type of Insurance

Incorporated Management Committee Liability Insurance

The insurer

QBE Hongkong & Shanghai Insurance Limited

The insured

Incorporated Management Committees of Aided and Caput Schools and their managers

Insurance Coverage

(Any interpretation should be based on the full-text of the policy.)

The Incorporated Management Committee Liability Insurance Policy aims to protect the IMCs and their managers on top of the legal protection conferred by the Education Ordinance against financial losses as a result of claims arising from their wrongful acts in school management including management liability, vicarious educator liability and employment practices liability.

1. Management Liability – such as any error, misleading statement, neglect, breach of duty, etc.
2. Vicarious Educator Liability – such as wrongful educational instruction, career guidance, expulsion procedures, student enrolment, etc.
3. Employment Practices Liability – employment related matters such as wrongful dismissal, wrongful discharge or termination of employment, wrongful failure to employ or promote, wrongful discipline, wrongful deprivation of a career opportunity, negligent evaluation, etc. 

Insurance Policy Coverage includes

(any interpretation should be based on the full text of the policy itself)

Costs of services of defence; costs of proceedings and appeals; and the compensation within the limit of indemnity as awarded by the Court to the claimants.

Limit of Indemnity

The current policy limit is HK$10 million in any one claim and in the aggregate including defence costs and expenses during the period of insurance with a deductible of HK$10,000 for each and every claim against the IMC (save for claims brought against individual managers of IMC schools which should be nil.)  The insurance company may under the terms of the policy, defend or settle any claim on behalf of the IMC or its managers.