128 Program Management 4. Risk Management Plan (continued) 3. Insurance Level 1 Recognize the importance of insurance coverage. PM 4.3.1 Level 2 Refer questions about insurance coverage or claims to appropriate staff person. PM 4.3.2 Level 3 Identify the procedures for reporting claims and assist with reports as needed. PM 4.3.3 Level 4 Examine insurance requirements and maintain adequate coverage for loss and liability for: o Children o Personnel, volunteers and visitors o Property o Professional liability Communicate the extent of coverage to staff and families. PM 4.3.4 Level 5 Provide guidance and share resources to support evidence-based best practice early childhood professionals in the area of business practices. PM 4.3.5