We recently learned of a change in how public schools are insured. Typically, your local public school is insured against fire, liability if your child falls off the jungle gym, and worker's compensation. But now, there's terrorism insurance, and across Ohio, more and more schools are buying it. Dave Peterson works for the Hylant Group, which offers terrorism insurance as part of the package they sell to some 380 schools in Ohio. He says from the insurance company perspective, one of the biggest difficulties with this new kind of coverage is its lack of predictability.
The Hylant Group insures about 380 schools across the state. Big city schools that are strapped for cash are less likely to buy the insurance - Cleveland and Columbus schools don't have it - but smaller suburban districts are signing on. Around the Northeast, Mayfield, Beachwood, Parma and Avon Lake all have terrorism insurance, costing anywhere from 3 to 5,000 dollars a year. They get their coverage from Indiana Insurance.