While joint powers authorities (JPAs) typically require minimum participation of three years or more, this joint purchase program has no minimum participation requirement.
No Risk Sharing
As a group purchase program, there is no risk sharing in SLIP and, therefore, no possibility of future assessments. Each participating entity has its own limits of liability and a choice of deductibles or self-insured retention. The group’s size offers greater stability as the insurance market fluctuates as well as the most competitive structure in both hard and soft markets.
SLIP is unique in that it offers a customized, manuscripted form developed specifically for small public entities and not-for-profit organizations that offers a wide range of liability coverage. In addition to general liability, SLIP provides public officials errors and omissions liability (for public entities), directors and officers liability (for not-for-profits), automobile liability, and employment practices liability all under one contract on an “occurrence” basis. Primary broadcasters legal liability insurance is also available.
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