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Handbook of Business Procedures

Date published: 
Last revised: 
Issued by: 

Aug. 3, 2011
Aug. 3, 2011
Risk Management

 

Part 19. Risk Management - Table of Contents


19.1.5. COMPREHENSIVE PROPERTY PROTECTION PLAN (CPPP)

A. Introduction

The Comprehensive Property Protection Plan (CPPP) is sponsored by The University of Texas System and includes two programs:

1. Fire and All Other Perils (Fire and AOP)
This program insures against risks of direct physical loss of, or direct physical damage to, property of The University of Texas at Austin. Coverage is subject to the terms, exclusions, limits, and conditions of the policy.

Note: Departments/colleges are responsible for the loss deductible, which starts at a minimum of $250,000.

2. Named Windstorm and Flood (Wind and Flood)
This program insures against risks of direct physical loss of, or direct physical damage to, property of The University of Texas at Austin caused by named windstorm or storm surge flood events. Coverage is subject to the terms, exclusions, limits, and conditions of the policy.

Note: Departments/colleges are responsible for the loss deductible.

B. CPPP Loss Reporting

Under the CPPP, losses over $25,000 shall be reported directly to The University of Texas System’s Office of Risk Management (ORM). Follow these steps to submit a report:

  1. Complete the First Report of Property Loss form.
  2. Scan the completed form and email it to the UT System ORM claims coordinator, and copy the university’s Office of Accounting Risk Management at oa.riskmgt@austin.utexas.edu on all correspondence.
  3. The department/college must also provide supporting documentation, such as repair estimates and photographs. UT System and Risk Management will work with the department/college to compile any additional information related to processing the claim.

Note: If loss-related labor is performed by university staff, only payroll costs classified as overtime are reimbursable.

C. Additional Required Steps Beyond Loss Reporting

In addition to reporting the loss to ORM and to Risk Management, the department/college must:

  • Not discard any property.
  • Protect the property from further damage.
  • If the incident occurred on campus, call The University of Texas at Austin Police Department (UTPD) at 512-471-4441. If the incident occurred off campus, contact the local police department. Report the item as stolen or vandalized.
  • If appropriate, and with assistance from ORM, contact BMS Catastrophe, Inc. at 1-800-433-2940 for restoration and recovery services. If possible, consult with ORM prior to contacting BMS.
  • Make reasonable and necessary repairs and keep accurate records and support documentation, including bills, receipts, and other documentation of repair expenses.
  • Provide an inventory list of all damaged or destroyed property to the UT System ORM claims coordinator and to Risk Management. Information must include quantity, costs, remaining cash value, and amount of loss claimed.
  • Notify Inventory Services of any property or equipment that is destroyed or damaged.

 

 

Part 19. Risk Management - Table of Contents