The Annual Equipment Insurance System (AEIS) renewal update period will be Sept. 1-18, 2009.
Changes made through AEIS are effective Nov. 1, 2009 for coverage through Nov. 1, 2010.
Any items insured last year that are not renewed through this system will not be insured in the upcoming year. On or after Sept. 1, you may go to the AEIS page to view all items insured as of Aug. 2009. 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, 2009. Decisions as to whether to insure your equipment items may be affected by potential changes to premium rate, deductibles, exclusions, and other factors subject to change at policy renewal.
Carrier: Federal Insurance Company
Policy Dates: Nov. 1, 2008 to Nov. 1, 2009.
Covered Items: Scheduled miscellaneous articles—tangible property that you own or that is owned by others and in your care, custody, or control. The equipment policy is primarily intended to provide coverage for such items as the following: scientific equipment, medical equipment, geological equipment, computer equipment, software (report values for the media separate from any computer it might be used in), Radio-Television-Film equipment, and nonmotorized boats or other waterborne vessels.
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
$2,000,000
Any one conveyance for Ocean Cargo
$1,500,000
Any one occurrence while in transit
$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
Aggregate as to property while waterborne, underwater,
or over the side any one watercraft
$500,000
Wind/Hail outside the United States and Canada
$250,000
Any one occurrence as to property while waterborne, underwater,
or over the side any one watercraft
$100,000
Any one occurrence as to mechanical breakdown
Deductible:
(If a claim consists of more than one covered item having different deductibles, the higher deductible would apply)
$1,000
During transit while covered by Ocean Cargo.
$2,500
Per occurrence, except $1,500 as to Laptop computers;
and $100 as to Oximeters and to PDAs
$10,000
Mobile Cat Labs
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
The rate for 2008-09 is $00.57 per $100 of equipment value.
III. HOW TO OBTAIN OR DROP EQUIPMENT INSURANCE
New! Enter items in AEIS to add to the annual insurance policy.
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.
