Insurances Policy

It is the responsibility of the Chief Financial Officer to annually review, renew or authorize the issuance of new insurance policies as directed by the Board of Trustees or the President.  Fire and Casualty Insurance – College Buildings 

1. For all College buildings and equipment and other contents therein that is State property, the College shall secure and maintain fire and casualty insurance as prescribed in N.C. Gen. Stat. §115D-58.11(a). 
2. The County shall provide to the College the funds necessary to purchase such fire and casualty insurance. 
3. All insurance must be purchased from companies duly licensed and authorized to sell insurance in North Carolina. 

Liability Insurance 

1. The Trustees may purchase liability insurance to adequately insure the Trustees against any and all liability for any damages by reasons of death or injury to person or property proximately caused by the negligence or torts of the College’s agents and employees when acting within the scope of their authority or the course of their employment. 
2. All insurance must be purchased from companies duly licensed and authorized to sell insurance in North Carolina or from other qualified companies to sell insurance as determined by the N.C. Department of Insurance.
3. The Trustees are authorized to pay as a necessary expense the lawful premiums of the retained liability insurance.

Group Insurance

The Board of Trustees has granted to the President, upon information supplied by the Chief Financial Officer, the authority to designate the insurance company(s) that will present plans to the College employees concerning group employee benefits such as hospitalization, dental and vision plans, sheltered annuities, etc.