What is a JIF

Joint Insurance Funds (JIFs) are simply a form of shared services for New Jersey Public Entities that enables them to pool their resources to insure for property, boiler and machinery, general and automobile liability, educator’s legal liability, pollution and mold liability, and workers’ compensation claims.

They also wisely budget for professional contracts that deliver an extraordinary level of service. New Jersey public schools have been involved in Joint Insurance Funds as an alternative to the traditional insurance market since they were permitted to do so in the early 1980’s.

The School Pool for Excess Liability Limits Joint Insurance Fund (SPELL JIF) was created in 2001 by the ACCASBO, BCIP and GCSSD JIFs. This formation was in response to a hardening excess insurance market and the desire of these funds to take advantage of the “law of large members”. As members of the SPELL JIF, the 3 funds were able to spread risk across a larger group and more economically procure excess insurance coverages.

The SPELL JIF is a financial mechanism that provides for the collective best interest of the owner groups. These owner groups are compromised of public school districts from:

  • Atlantic & Cape May Counties Association of School Business Officials Joint Insurance Fund
  • Burlington County Insurance Pool Joint Insurance Fund
    (BCIP JIF)
  • Gloucester, Cumberland, Salem School Districts Joint Insurance Fund

To schedule a Concept Presentation and hear how the JIF can help your district, click here.

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