The EIIA Property & Casualty Program was designed for the very specific needs of higher education institutions. EIIA interviews and negotiates with insurance brokers and agents on behalf of consortium participating institutions. EIIA's goal is to achieve the broadest insurance protection at a level of pricing calculated to remain stable without being unduly affected by the dramatic swings of the commercial insurance market. EIIA's member institutions enjoy the benefit of a sophisticated insurance program predicated upon purchasing insurance for large losses while assuming smaller losses which are easily absorbed within each institution's normal operating budget. Due to the large number of member institutions and the sizable premium volume, EIIA is able to negotiate reduced commission rates and fees with agents and brokers.

The EIIA Property & Casualty Program currently serves over 115 colleges, universities, seminaries and college preparatory schools.

The current program of insurance incorporates loss sensitive premium arrangements. The premiums collected from participating institutions are deposited into interest bearing trust accounts for the benefit of the participating institutions. All interest earned becomes a part of the funds for that policy year and accrues to the benefit of the participating member institutions.

As the financial picture for each policy year develops, the Board of Directors reviews the likelihood of paying the maximum liability to the insurance company. In the event that fewer than expected claims are paid, the Board of Directors may authorize a distribution of return premiums or premium credits to the current participating institutions.

The concept of sharing risk and sharing losses is strongly supported by the Board of Directors. The homogeneity of participating institutions reduces the likelihood of unusual exposures (such as teaching hospitals and large research facilities) that could adversely affect loss experience. It is the homogeneity of the institutions within the program as well as the sharing of losses, that helps to develop a long-term stable premium environment for the program and the member institutions.

All institutions participating in the EIIA Property & Casualty Insurance program purchase all coverages that are included in the mandatory program. Those coverages are: property, workers' compensation (monopolistic states excluded), general liability, automobile, sexual misconduct, internet liability, pollution liability, non-owned aircraft, special events, crime and excess liability. All institutions maintain their own separate limits of $50 million with the exception of the sexual misconduct and internet liability policies that are shared limits. The program is divided into two separate effective dates, March 1 st and September 1st.

In addition to the mandatory policies, EIIA has programs for both Educators Legal and Fiduciary Liability coverage.

In July of 2002, College Insurance Company, a Vermont wholly owned captive insurance company, was incorporated. The purpose of College Insurance Company is to act as a reinsurer for the Workers' Compensation coverage as well as participate in other areas of insurance.