Property Program
The University of Wisconsin System is self-funded for property protection under Wisconsin Statute, Section 20.865. This statute provides all-risk, replacement-cost protection for damage resulting from direct physical loss, with some exclusions.
This coverage applies to buildings, contents, capital equipment, supplies and vehicles. All losses are subject to a $500 deductible, with two exceptions: there is a $2500 deductible for theft when there is no sign of forced removal and there is a $0 deductible on vehicle glass breakage. Please note that all property claims must be concluded within 90 days of the incident.
Each spring, our office solicits information from each department to update our coverage for fine arts, museum pieces, special libraries, fabricated equipment and other property categories. All values are updated and reported to UW System and State Risk Management to assure adequate coverage of all University-owned property. It is only through your cooperation and assistance that we can accomplish this task.
Certain types of information need to be reported on an on-going basis:
- Transit Coverage and Property Off Campus: Whenever UW property is transported off campus, there are risks in the transit process that need to be insured. This also applies to equipment being shipped to campus, as in FOB shipping point, and for equipment being returned to campus after being away. Shipments within the continental US of $100,000 and over, as well as ALL foreign shipments (or to and from US locations off-shore) must be reported to State Risk Management using the form in the attached link. This link provides information regarding the reporting process as well as the form. This will also allow you to request coverage for items that are being used or stored off-campus using the same dollar value criteria. Questions regarding this can be directed to our office via e-mail to either Jeanine Critchley or Margaret Hoffman, but in some cases, you may be directed to State RM for clarification of process. The link is: http://www.doa.state.wi.us/category.asp?linkcatid=833&linkid=55&locid=2
- Art Exhibits: If you plan to have an art exhibit, each artist or owner must submit a signed "Request for Art Exhibit Coverage" along with an itemized listing of the works to be exhibited by name or description, and an individual value for each item. Should a loss occur, losses will be evaluated on the basis of the criteria on the Art Exhibit Coverage Request form.
- Borrowed Property: In order to assure property coverage for non-owned items that are on-loan or borrowed, the following information needs to be given to Risk Management: a description of the item, including make, model and/or serial #, the name of the owner, the location of the item while on campus, the time span for coverage, the value and the department name. Equipment on loan may include items borrowed from other institutions and corporations, as well as privately owned items as long as they are being used on University business. Items that are personally owned by employees are generally not covered, but some exceptions may be made by our office. Equipment provided to the University that is here solely for "sale on approval" is the legal responsibility of the vendor and such coverage requests will be evaluated on a case by case basis, depending on the circumstances.
Property Claims
When a property claim occurs, it is important that the department react promptly to handle the situation and notify our department. If the loss involves theft or vandalism, the local law enforcement agency must be notified. Losses in excess of $10,000 must be reported immediately by phone to our office, since we need to notify State Risk Management. In order to file a claim, we need an initial brief written report (e-mail is fine) telling us who, what, when, where and how the claim occurred. You will need to follow up with a formal report, using the Property Loss Report. You will also need to submit copies of repair estimates, replacement costs, and clean-up costs, as applicable. Theft or vandalism claims require the filing of a police report. Please note that all property claims must be concluded within 90 days of the incident.
Lightning claims require the completion of a Lightning Affidavit, by the repair person. Claims must be filed with our office in a timely fashion - the State now requires that claims be filed within 90 days of the date of loss. State Risk Management may make exceptions where unusual circumstances necessitate a longer time frame. Reimbursement to the department may be accomplished by writing a requisition against our insurance escrow account, or by transfer to departmental funds to reimburse for expenditures already made. Use of the escrow fund is by permission only, so please contact our office before writing any requisitions.
Recovery will be made from the State Property Program, if coverage applies. If the damage was the result of someone else's negligence, we will pursue recovery from the negligent party.