Ideal Accounts and Appetite
This program is a strong fit for agents and brokers placing:
- Private K-12 schools
- Independent day and boarding schools
- Private and public colleges and universities
- Technical and vocational schools that use prepaid tuition models
If your clients rely heavily on tuition to fund operations and need protection against unexpected mid-term departures, Tuition Refund Insurance is a valuable product to present.
Coverage Highlights and Advantages
The Tuition Refund Insurance program helps schools recover lost tuition revenue when a student exits early for a covered reason. That reimbursement helps clients maintain cash flow and avoid operational disruption while they recruit or reassign enrolled seats.
Basic coverage includes:
- 100% of covered tuition for medically necessary withdrawals (including mental and nervous disorders)
- 100% of covered tuition for the death of a tuition payer
- 100% of covered tuition for the death of a student
- 100% of covered tuition for epidemic-related school closures
Optional coverage enhancements include:
- 75% of covered tuition for involuntary unemployment of the tuition payer
- 75% of covered tuition for job transfer of the tuition payer
- 75% of covered tuition for academic dismissal
- 75% of covered tuition for disciplinary dismissal
- 60% of covered tuition for voluntary student withdrawal
Underwriting Notes
IPMG underwrites this program on a non-admitted basis through Markel Insurance Company. Underwriting is responsive and flexible to schools of varying sizes. There is no published minimum premium; pricing and terms are determined case-by-case based on enrollment size, tuition model, and the specific optional benefits requested.
Territories and Availability
This program is available nationwide — all 50 states plus Washington, D.C. IPMG can assist with placements in California, Texas, New York, and across the country.
Why Work With IPMG?
As a Managing General Underwriter and E&S broker, IPMG delivers niche-focused underwriting and dedicated brokerage support for tuition-based risks. Their team understands the operational and revenue pressures schools face and provides tailored solutions that protect tuition revenue streams while offering flexible terms and responsive servicing.
Contact us to request quotes and discuss placement options.
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April Cook (MO)
Brokerage Services
(314) 293-9702
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Terry Dowty - CPCU (IL)
Specialty Lines Practice Leader
(630) 485-5844
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Linda Santiago (FL)
Senior Underwriter
(855) 377-4764 ext. 5222
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Choose IPMG to write your Tuition Refund Insurance!
Frequently Asked Questions
What types of accounts are a good fit for this program?
Private K-12 schools, independent boarding schools, colleges, and vocational institutions that rely on prepaid tuition are the primary candidates for Tuition Refund Insurance.
Does this program cover voluntary student withdrawals?
Yes. Voluntary withdrawals can be included as an optional benefit, typically reimbursing up to 60% of covered tuition when selected.
Is the coverage available nationwide?
Yes. The program is available in all 50 states and Washington, D.C.
Is this program written on an admitted or non-admitted basis?
This is a non-admitted program written through Markel Insurance Company.
Who do I contact to get a quote or learn more?
Reach out to IPMG’s brokerage and underwriting contacts listed above for personalized assistance and quoting.
Need help placing an account? Connect with a market specialist.