The University of Texas
Equipment Insurance Program
The Equipment Insurance Annual Renewal (EIAR) system update period will be Aug. 4-Sept. 7, 2008.
Changes made through EIAR are effective Nov. 1, 2008 for coverage through Nov. 1, 2009.
Any items not renewed through this system will not be insured for this year. On or after Aug. 4, you may go to the EIAR page to view all items insured as of July 2008. Any additions or deletions made since that time will not be reflected. Please contact oa.riskmgt@austin.utexas.edu for more information.
NOTE: The equipment insurance policy information listed below is current through Nov. 1, 2008. Decisions as to whether to insure your equipment items may be affected by potential changes to premium rate, deductibles, exclusions, and other factors.
Carrier: Federal Insurance Company
Policy Dates: November 1, 2007 to November 1, 2008.
Covered Items: Misc. Articles Floater (All Risk including Flood
& Quake) including transit, but excluding Mechanical Breakdown/Internal
Derangement while in Transit. Misc. Articles includes boats or other
nonmotorized vehicles.
Valuation: Replacement Cost includes computers, printers,
copiers, and fax machines. Actual Cash Value will apply to furniture,
fixtures.
Territory: Worldwide with the exception of politically unstable
regions and countries where it is unlawful to conduct business.
Exclusions: Theft from Unlocked Conveyances, Errors in system
programming, and errors in instructions to a machine. (Scientific Equipment, EDP equipment, & Media and Telephone Equipment.)
Limits of Insurance:
$20,000,000
Any one occurrence, not to exceed;
$1,500,000
On any one item
$5,000,000
Flood, surface water, deluge, back up of sewers and drains
annual aggregate
not covered
Earthquake in the state of California
$5,000,000
Earthquake outside the state of California, annual aggregate
$1,500,000
Any one occurrence while in transit, except $1,800,000 while
in transit as to property for University of Texas at El Paso
$1,500,000
New acquisitions reported within 30 days
$1,500,000
Any one occurrence as to property loaned to insured on a
temporary basis
$500,000
Any one occurrence as to property loaned/rented/leased to
others
$500,000
Any one occurrence as to property while waterborne, underwater,
or over the side any one watercraft
$500,000
Wind/Hail outside the United States and Canada
$100,000
Any one occurrence as to mechanical breakdown
Deductible:
$2,500
Per occurrence, except $1,500 as to Laptop computers;
and $100 as to Oximeters and to PDAs
$10,000
Mobile Cat Labs
$10,000
Per Occurrence as to While Waterborne
2% Minimum $10,000
Per occurrence as to Wind/Hail in the U.S. and Canada
$25,000
Per occurrence as to Flood, surface water, deluge, back up
of sewers and drains
$25,000
Per occurrence as to Earthquake
$25,000
Per Occurrence as to Wind/Hail outside the U.S. and Canada: (Wind/Hail outside US and Canada is limited to $500,000)
Valuation: Replacement Cost, except ACV
as to Furniture, fixtures, etc.
•
Territory amended to include Worldwide,
but excluding North Korea, Libya, Iran, Iraq, Afghanistan,
Syria, Liberia, & Cuba
•
Monthly Reporting of Total values at risk
as of the last day of each month
1The Additional Provisions of this quote letter supersede the description on the attached page. The precise coverage afforded is subject to the terms and conditions of the policy as issued.
Additional coverage and/or limits desired are available upon request.
II. RATES AND DEDUCTIBLES
NOTE: The equipment insurance policy information listed below is current through Nov. 1, 2008. Rates, deductibles, and coverages are subject to change at renewal.
The rate for 2007-08 is $00.57 per $100 of equipment value.
Deductible for Laptops is $1,500 per occurrence.
All other equipment is $2,500 per occurrence.
If a claim consists of one or more of each of the above, the department
would pay the higher of the two deductibles.
Forward an e-mail to the authorized signer (typically a dean or director) on the account to be charged for the premium expense.
Have the signer forward an e-mail to oa.riskmgt@austin.utexas.edu along with the spreadsheet from step A. The authorized signer may copy you on this e-mail for your records.
Call either U.T.P.D. or local police (depending on where the activity
occurred) and report the incident. Obtain a copy of the police report
as soon as possible.
Take photos.
Secure a repair estimate if possible.
If damaged beyond repair, notify Inventory Services of the loss for removal
from inventory.
