The property policy limit is "unlimited". We do not assign values to property for rating. We rate on the basis of square footage, and our policy is an All Risk, Replacement Cost coverage. Therefore, the limit is determined at the time of loss, and would represent the cost of repair or replacement of the building or contents at the time of loss. OSBIE includes Fine Arts in coverage, subject to the chosen deductible. We apply only one deductible to all insured property. In addition, OSBIE's property policy includes flood and earthquake. The OSBIE property policy also provides builders risk insurance for construction projects at an additional charge.
OSBIE introduced the Human Elements Loss Prevention (HELP) program in 1999. The Program provides 10 procedures for the most common claims against school boards. We audit each Board and those that implemented the procedures, or had equivalent procedures could apply for a HELP Credit from their next years property premiums. This program continues to run annually with credits being sent out to many Boards.