Budget Overspend Insurance
Budget Overspend (Provided by SAS)
If your school is considering taking on the risk of self-insuring, then SAS Budget Overspend may be the best option for you.
Budget Overspend enables you to pay a lower premium for a fully comprehensive cover option like SAS Policy Plus by sharing the risk with the insurer.
The School obtains the premium saving by self-insuring a specified amount, which will be referred to as the retained fund. The insurer takes on the risk that any absences that exceed the retained fund are fully covered providing ultimate risk transfer and budget certainty.
As it requires a much lower financial outlay for the school, it is a cost-saving option designed to protect your budget should an unpredictable, high-level of absences occur one year.