| Effective Date: 1/1/92 (revised 2/1/97) |
| Office of Origin: Business, Administrative, and Risk Management Services |
A. Self-Insurance Property Program
The University is self-insured for certain property, facilities, equipment, and securities and there is no premium charged to an individual department. The deductible is $250 for loss other than theft and water damage. Forced entry thefts are subject to a $1,000 deductible, and non-forced entry thefts are subject to a $5,000 deductible. Water damage is subject to a $5,000 deductible per occurrence.
B. Buy-Down Deductible for Theft
The University provides a lower deductible for losses caused by theft. Campus departments may secure coverage upon request and upon payment of insurance premiums. Deductibles are $250 for forced-entry theft, and $1,000 for non-forced-entry thefts.
C. Domestic Transit Self Insurance
Insurance is available for household relocations or equipment shipments. The domestic transit self-insurance program will cover approved shipments and household relocations in excess of $100,000. Shipments under $100,000 will be covered under the University's self-insured property program; household relocations are covered by this insurance regardless of the value. Shipments over $100,000 must be insured to full value and require the prior approval of Business, Administrative, and Risk Management Services. The premium rates and deductibles vary depending on the coverage.
D. General and Automobile Liability
The University provides coverage for damages or injuries to individuals (other than employees) or their property that is the result of negligence on the part of the University. This coverage is provided under the University's self-insurance program and there is no premium charged to individual departments.
In case of employee injury, see Administrative Policy 150-24, Workers' Compensation.