In 2005 IU took the step of forming a single–parent captive insurance company . This is a form of risk financing.
Old Crescent Insurance Company (OCIC) is domiciled in Vermont. Excepting one required director in Vermont, its directors are IU employees.
It currently has six lines of coverage.
- Medical Malpractice
- Property
- General Liability
- Auto
- Directors & Officers
- Cyber Liability
Claims and investments are handled by IU staff.
This has proven a beneficial step for IU, providing coverage between our self–insurance fund and commercial insurance coverages.
