Article 5: A look at the archdiocese’s insurance partnership with western dioceses
In 1998, the Bishops of eighteen of the western Dioceses and three Eparchies got together to form APEX (Asset Protection Insurance Exchange) This was to help with liability and rates throughout Catholic dioceses in the Western Conference of Bishops who are part of this group.
Who’s who?
APEX:
- Asset Protection Insurance Exchange as described above.
Acera Insurance: Insurance Broker
- Acera Insurance is the largest independent, employer controlled Canadian brokerage. A broker acts as an intermediary, facilitating transactions by connecting you with markets, lenders or insurance products to save you time, effort, and often money. They manage complex processes negotiate on your behalf, ensure legal compliance, and provide specialized advice to help you.
Ecclesiastical: Insurance Company
- It is a wholly owned subsidiary of Benefact Group which in turn is owned by Benefact Trust (previously known as Allchurches Trust), a registered charity whose objectives are to promote the Christian religion and to provide funds for other charitable purposes. They are also the only insurance company who accept to cover our Physical and Sexual insurance program.
When an incident occurs we contact ACERA (Broker), who will assign an adjuster. The adjuster will begin an investigation, gathering facts and reporting the details of the claim to ACERA. ACERA will manage the processing of claims on behalf of APEX. Based on the adjuster’s finding, he/she recommends whether a claim is covered under the policy and the extent of the damage. All questions regarding the claims are to be addressed to the adjuster. If a claim is below $500,000 it will be managed under APEX, with a deductible of $5,000 charged to the diocese/parish. If a claim is over the $500,000 the claim is transferred to Ecclesiastical (Insurer).
Our insurance program covers:
1) Property Insurance:
- This includes all buildings and contents listed under the Archdiocese. These could be insured at full replacement cost, partial replacement coast or debris removal.
2) Equipment Breakdown:
- Any boiler, any fired vessel, any unfired vessel normally subject to vacuum or internal pressure other than static pressure of contents, any refrigerating or air conditioning vessels and piping, or any metal piping and its accessory equipment.
3) General Liability Insurance:
- This insurance protects businesses against financial loss from third-party claims of bodily injury and personal/advertising injury (e.g., slander, libel) occurring from operations, products, or on-our premises. It covers legal defense costs, settlements, and judgments, which is crucial for business stability.
4) Umbrella Liability Insurance:
- This is extra liability coverage that extends beyond the limits of standard policies, protecting your assets from major claims or lawsuits. It typically covers bodily injury and legal fees.
5) Director and Officer Liability: Coverage and Limits $1,000,000:
Who is covered?
- All parishes and any other locations including schools, missions, charities, and the diocesan head office.
Persons Covered Include:
- All directors, officers, employees and volunteers.
What is Covered?
- Allegations by a third party against an insured person of a wrongful act including such things as wrongful dismissal, waste or mismanagement of assets.
6) Physical & Sexual Abuse Cases:
Who is covered:
- The Episcopal corporation, its employees, board members and volunteers.
Who is not covered:
- The alleged perpetrator
- Anyone who allegedly participated, directed, instigated, facilitated, promoted or condoned the abuse.
What is covered?
- Allegations of sexual and physical abuse.
- Civil Defense Costs.
- Criminal Defense Costs.
- Medical, Rehabilitation and Counseling Costs.
When/if the accused is acquitted, they are covered for:
- $2,000,000 per occurrence & annual aggregate.
- Retroactive to March 01, 1997.
- $25,000/$50,000 Criminal Proceedings.
- $7,500 Medical Rehabilitation.
To learn more about the archdiocese’s insurance policies and partnerships, please contact the finance department at the chancery office.