What cover is provided for University Property?
All property owned by the University, or for which it is legally responsible is covered for its replacement value against loss or damage.
Are there any exclusions I should know about?
Obviously a number of standard exclusions apply, the most common being; wear, tear and gradual deterioration, faulty or defective design, materials or workmanship, contamination by radiation, theft of property left unattended or in the open, and any loss from an unattended vehicle, and theft which does not involve forced entry or exit. Losses must also be attributed to an incident. There is sometimes a time limit within which our insurers must be made aware of a loss, it is therefore crucial to inform the University Insurance Officer as soon as possible if a loss has occurred.
In the event that you want to make a claim, you will be required to demonstrate that you have taken reasonable care of the item. What is "reasonable care"? - would you have done anything differently if the items was your own and not insured?
Are there any conditions I should know about?
Any property kept in a cellar; basement or sub-basement must be kept on racks or shelves at lease 30cm above floor level.
All firebreak doors and shutters must be in effective working order and kept closed.
Computer data must be backed up no less frequently than once every 7 days and stored in a separate building. Duplicate records of software must be retained in a separate building.
If using mobile computer equipment (including iphones/ipads or laptops) please familiarise yourself with the University mobile security policy.
What excesses apply to the policy?
The policy is subject to a £2,500 excess for most losses with the exception of:
- Fire, lightening, Impact by Aircraft, Explosion - £Nil
- Subsidence £5,000
- Theft of equipment whilst away from the University for Fieldwork (UK or overseas) - £250
- Theft of laptops if secured using a laptop cable or at the Private residence of an employee £500.
Is equipment insured if I take it off campus?
Cover is limited to £100,000, any one item subject to £50,000, for any one loss away from the premises including in transit, either in the UK or overseas. It is possible to get these limits increased for specific requirements, but depending on the risk it could be subject to an additional premium. Please refer to the University Insurance Officer.
If you are removing a piece of equipment from campus, it is a requirement of the insurers that there should be a system for authorising and recording such removals in order to keep track of the whereabouts of University equipment.
What about new pieces of equipment?
New equipment is automatically covered and does not need to be notified unless it is valued more than £250,000 in which case you need to contact the University Insurance Officer.
I am using a courier - Do I need to buy the couriers insurance?
YES - Our insurers prefer us to use the transit providers insurance as all liability transfers to them. The University purchases contingent cover should their insurance fail but subject ti a £2,500 excess.
What happens if my Department receives a piece of equipment 'on loan'?
Equipment on loan is automatically covered up to a limit of £25,000.
Is University money covered if it is stolen?
Yes, but a number of special security conditions apply. Please refer to the University Cash Handling policy:
Is there anything else I need to know?
It is a statutory requirement that insurance surveyors inspect all University owned PRESSURE VESSELS AND LIFTING EQUIPMENT at regular intervals. A schedule of all equipment inspected and the certificates of inspection are held and maintained by Estates. In the unfortunate case of an accident or failure of the equipment, the University will only have the back up of our insurers if these inspection requirements are fully complied with. All such equipment should be declared to Estates BEFORE it is used, so that it can be added to the insurance schedules.
How do I make a claim for loss/damage to University Equipment?
The University Insurance Officer must be notified and form Fin 48 completed, unless the loss is below £500. Such notification is required to enable the University to maintain meaningful claims statistics.
Where loss or damage to property is concerned and the claim is likely to exceed £5,000 the insurers may wish to utilise the services of a Loss Adjuster to agree/mediate on the value of the claim. It is important in these cases that the Loss Adjusters are given the opportunity to assess the damage before replacement or repair is undertaken, except for essential work required to minimise further damage or guarantee safety.
As indicated within the University Financial Regulations all insured theft must be reported to the University Security Lodge immediately.
Where do I need to keep the safe keys?
It is a condition of our insurance policy that all keys (including duplicate keys) relative to the security of the building and its contents must be removed from the building whenever closed. When this is not possible, and with prior agreement from the Insurance Officer, an approved key safe may be used to store such keys providing the keys to lock the key safe are removed from the building whenever closed. Any deviation from these conditions must be agreed in advance with the Insurance Officer to ensure appropriate insurance cover is maintained.