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Property Damage Insurance Claims

Before An Incident Occurs:
  • Inventory property. Using Inventory Control’s policies and procedures make sure all department items are appropriately inventoried. Because the University’s insurance coverage is based on the inventory kept by University Inventory Control, it is very important to keep the department inventory up to date.
  • Have emergency numbers readily available. Emergency contact information for appropriate departmental staff, including night and weekend numbers, should be available to the Department of Public Safety if an incident occurs.
  • Preventative Maintenance. Conduct, or have conducted, regular inspections and routine maintenance to keep equipment and facilities in good working order. If equipment or facilities need repairs, contact the appropriate people to have repairs made before an incident occurs.

After An Incident Occurs:

  • Report the incident as soon as possible. Contact the Department of Public Safety (852-6111), Physical Plant (852-6241), and Risk Management (852-6925) to report the incident.
  • Minimize property damage. Keeping your personal safety and the safety of others first, take appropriate steps to minimize property damage.
  • Provide the following information. To file a claim with the insurance carrier, Risk Management will need the following information:
    1. The department name.
    2. The department representative (name, phone number, e-mail address, etc. for the department contact person)
    3. A detailed description of any damaged item, including the UofL Inventory Control number, location (building & room number),  If damaged item does have a UofL Inventory Control number, please provide make, model, serial number, etc., and any original purchase information.
    4. Description of the damage to the item (what is not working, how it is damaged).
    5. Replacement information for "like, kind, and quality" (company quote/estimate or catalog information) and/or repair quote or estimate.  Documentation from a qualified technician or Tier I detailing why item should be repaired and/or replaced should also be provided with the quotes or estimates.
    6. If there are any items that are currently working, but you have reason to believe there could be problem with them in the future as a result of the incident, provide the UofL Inventory Control numbers, location and a detailed description of the item and the reason there may be a future problem.
    7. Information regarding any extra expense that may be incurred as a result of the incident (lease equipment, relocate offices, etc.).
    8. What will be required to get your program back in operation (equipment and repairs necessary before the department can resume operations – it is the University’s goal to get programs back in operation as soon as physically possible after an incident)

THE UNIVERSITY DOES NOT INSURE PERSONAL PROPERTY OF STUDENTS, FACULTY, OR STAFF.

  • Don’t state the cause of the incident. Until all the circumstances surrounding the incident and resulting property damage have been researched, the actual cause may not be known. Therefore, when talking to anyone about the incident don’t state the cause of the incident.
  • Don’t remove or repair damaged items. Unless it is necessary to minimize loss or prevent further damage. Items should not be removed from the incident scene or repaired until after the initial inspections by Risk Management or Adjuster are complete.
  • Don’t discard damaged equipment. It may be necessary to inspect specific equipment items as part of the claims settlement process. Therefore, equipment damaged beyond repair should not be discarded before the claims process is complete. Before discarding any University equipment, contact Inventory Control for appropriate procedures to follow.

 

CLAIMS PROCEDURES:

1)The department(s) reporting a claim provides the information listed above to Risk Management, 2) Risk Management then files the claim with the appropriate insurance carrier(s), 3) Risk Management works with the insurance adjuster(s) and departments(s) to ensure that the claim is moving toward settlement as quickly as possible, 4) Department(s) will either pay for replacement/repair of damaged item(s) or wait for claim settlement for funds to replace/repair damaged item(s) 5) Settlement is received by Risk Management, 6) Risk Management contacts department(s) and requests account information for the account the department(s) wants settlement  deposited into.  Note:  When settlements are received by Risk Management, policy deductibles and any appropriate depreciation have already been removed from the settlement by the insurance carrier.

 

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