Insurance Program Summary

The University has a centrally funded insurance program that extends to members of the University community, sanctioned activities of the University, and University property.

The following is a list of the insurance policies presently being purchased by the University. Please click on the policy name for further information about the policy that will answer most general questions. **Please note it does not include all of the conditions and exclusions that might apply on this policy.**

If you have any additional questions about the insurance implications of an activity or situation in which your faculty, department or ancillary unit is involved, please contact the Risk and Insurance Analyst at 853-3759.

Insurance Policies

Last Updated: March 31, 2010

PROPERTY INSURANCE POLICY SUMMARY

1. What is Covered

• Full replacement value of all property owned by the University or for which the University has a contractual responsibility. Such property includes buildings, fixtures, furniture and equipment, including computer hardware and software
• Insures against all risks of physical loss or damage, including damage resulting from fire, vandalism, theft and natural events such as floods, earthquakes and storms
• Also covers extra expenses which might be incurred to conduct or continue business following a loss, as well as costs associated with business interruption at designated locations
• Most University equipment which is taken off campus provided that correct documentation has been completed in advance with your department prior to the equipment leaving the campus.
• Loss of rent or rental value

2. Who is Covered

All University of Victoria departments, faculties, ancillaries, etc.

3. Deductible

The deductible on this policy is $50,000 per incident - which means the University must pay the first $50,000 of any claim. Essentially, the University self-insures up to a $50,000 loss. This deductible is reviewed annually.

The $50,000 is not the responsibility of the faculty, department or ancillary. Risk Management charges an internal deductible to each faculty, department or ancillary unit facing a property claim, regardless of the amount of the claim. Effective Jan.1, 2007, Risk Management moved to a deductible system similar to those used by other organizations. Claim deductibles will be determined based on reason(s) for loss(es) and mitigation strategies in place for equipment prior to the loss(es). The deductibles are:

• Losses such as floods, fires, etc., which are not caused by a department the deductible will be - $0.00
• Losses such as floods, fires, etc., which are caused by or attributed to negligence on the part of a department will be - $2,500
• Losses for equipment that has been alarmed and are monitored by Campus Security (CSEC) the deductible will be - $0.00 (Note: this means the equipment itself has been alarmed, not just the room.)
• Losses from an alarmed area not monitored by CSEC or other security companies' deductible will be - $1,000
• Losses from an area not alarmed but where the equipment (including desktop computers) is physically secured with approved security hardware deductible will be - $1,000
• Losses from an area that is neither alarmed nor is the equipment (including desktop computers) physically secured with approved security hardware deductible will be - $2,500
• Losses of any portable equipment (laptops, camdorders, PDAs, etc) not properly secured deductible will be - $ 2,500. Portable equipment properly secured with approved security hardware will be - $1,000
• Losses from a vehicle where equipment was not placed in the trunk or secured in some way for vehicles that do not have a trunk deductible will be - $2,500
• Departments who experience significant increases in lost, stolen, or damaged property and/or equipment, can face potentially higher internal deductibles based on the number of losses and/or cost of those losses and/or the reasons for the losses. The losses will be reviewed on a case by case basis
• CSEC offers theft prevention consultation services. In the event a department experiences multiple losses in a year it will be recommended that a security audit be performed.

4. What Property is Not Covered

• Boilers, piping and related machinery (see Boiler & Machinery Policy Summary)
• Fine arts and rare books (see Fine Arts Policy Summary)
• Land including water, standing timber or growing crops
• Vehicles
• Personal property of students, faculty or staff
• Property of any individual or company renting space from the University
• Property of the Students' Society as it is a separate entity and carries its own insurance
• Biological materials, crops, timber and live animals
• Nuclear reactor installations, nuclear reactions or radioactive contamination
• Unattended remote sensing equipment, satellites and other similar unattended equipment while being deployed, in use or in operation, or being retrieved or recovered anywhere including on land, underground, under the sea, at sea, in the atmosphere or in space (See Marine Equipment Policy Summaries)
• Property that is taken out of Canada and the U.S. that has a value of more than $100,000

What Perils are Not Covered:

• Perils (events which cause losses or damage) which are not covered by this policy include:
  • Mechanical or electrical breakdown, wear and tear, normal settling, contraction or expansion
  • Damage resulting from pollution, rust or corrosion, dampness or dryness, evaporation, contamination, mould and fungi, heating, wet or dry rot, etc.
  • Loss resulting from dishonesty or infidelity of employees, or of others to whom property is loaned, rented or entrusted
  • Nuclear accidents
  • Loss or damage by war, invasion, etc.
  • Loss or damage by moths, vermin, termites, rodents or other insects
  • Electric or magnetic injury, disturbance or erasure of electronic recordings
  • Mysterious disappearance or unexplained loss of inventory storage
  • Loss or damage from pollutants

5. Policy Territory

• Worldwide

Last Updated: March 31, 2010

GENERAL LIABILITY INSURANCE POLICY SUMMARY

1. What is Covered

• Insures against all costs which the University of Victoria or its employees might become legally obligated to pay as damages for any of the following reasons:

1. bodily injury
2. personal injury
3. property damage
4. property damage to lease property
5. professional and malpractice liability

2. Who is Covered

• Officers, directors, governors, employees, post doctoral trainees, visiting scholars or volunteers while acting on behalf of the University
• Any person, government, organization, trustee or estate where the University is obligated by written contract to provide insurance, but only with respect to operations by or on behalf of the University
• Any interest owned, controlled or operated by the University
• Students while engaged in performing a duty or taking part in any activity which is considered part of regular or extraordinary studies or recreational activities connected with the University
• Students taking training in the health sciences such as physicians, surgeons, nurses, technicians, pharmacists, interns, fellows, and residents while they are registered as a student at the University and acting in the discipline in which they are registered, whether on or off campus

A number of other parties are also named in the policy as a result of specific relationships they have with the University, such as:

• The University Club of Victoria
• Island Pacific Institute Foundation
• University of Victoria Foundation
• Board of Pension Trustees
• UVic Industry Partnerships Inc.
• Foundation for the University of Victoria
• U.S. Foundation for the University of Victoria
• Research Universities Council of BC
• Alumni Association of the University of Victoria
• The University of Victoria Hong Kong Foundation Limited
• Long Term Disability Trust
• Ocean Networks Canada Society

3. Deductible

• There is a $5,000 deductible on this policy

Risk Management may charge an internal deductible of $1,000 to faculties, departments, or ancillary units facing a liability claim, based on reason(s) for loss(es) and if the faculty, department or ancillary unit could have prevented the loss. The reason for the claim is extensively reviewed prior to an internal deductible being assessed on the claim.

4. What is Not Covered

• Workers' compensation
• Use or operation of licensed automobiles and trailers (see Automobile Policy Summary) (see Rental Vehicle Policy Summary)
• Use or operation of owned and non-owned aircraft
• Owned - watercraft liability for watercraft over 1000 tons gross registry
• Property loss (see Property Policy Summary)
• War
• Environmental impairment. However, if it is a sudden and accidental environmental spill that is detected and reported within 120 hours and is an unexpected and unintentional discharge, it may be covered
• Products or work
• Medical malpractice where the person was influenced by hypnotics, intoxicants or narcotics
• Nuclear accidents
• Employment-related practices including claims arising out of refusal to employ or termination of employment
• Human rights complaints or proceedings
• Intellectual Property Infringement

5. Policy Territory

• Worldwide

Last Updated: September 14, 2011

ERRORS & OMISSIONS LIABILITY INSURANCE POLICY SUMMARY

1. What is Covered

As opposed to the General Liability Policy described above which protects against liability arising from bodily or personal injury or property damage, the errors and omissions policy provides protection for liability arising from "wrongful acts," defined as errors, misstatements, misleading statements, acts, omissions, neglect or breach of duty. Wrongful acts include error or omission in the delivery of professional services.

• Errors and omissions liability - liability arising from "wrongful acts," defined as actual or alleged errors, misstatements, misleading statements, acts, omissions, neglect or breach of duty
• Professional liability - liability arising from an error or omission in the delivery of (or failure to deliver) professional services

2. Who is Covered

• Officers, directors, governors, employees, post doctoral trainees, or volunteers while acting on behalf of the University
• Officers or directors of entities other than the University if they are acting in that capacity at the direction of the University
• Persons acting as trustees of any pension fund of the University
• Any student while engaged in activities related to their studies and the discipline in which they are registered, whether they are on or off campus

3. What is Not Covered

• Fines or penalties imposed by law
• Anything where the insured profits or gains an advantage to which they are not legally entitled
• Claims brought about by or contributed to by the dishonesty of the insured
• Willful violation of statute law
• Claims arising out of bodily injury, personal injury or property damage (see General Liability Policy Summary)
• Breach of contract, including employment contracts
• Liability arising from environmental damage
• Violation of intellectual property
• Employment related practices including claims for refusal to employ or termination of employment
• Tuition, fees, or rents

4. Deductible

• $0 deductible except in the case of wrongful acts in the administration of employee benefits, there is a deductible of $1,000.

5. Additional Insured

• The University Club of Victoria
• Island Pacific Institute Foundation
• University of Victoria Foundation
• Board of Pension Trustees
• UVic Industry Partnerships Inc.
• Foundation for the University of Victoria
• U.S. Foundation for the University of Victoria
• Heritage Realty Properties Ltd.
• Alumni Association of the University of Victoria
• The University of Victoria Hong Kong Foundation Limited
• Vancouver Island Technology Park Trust
• University of Victoria Properties Investments Inc.
• Long Term Disability Trust
• Ocean Networks Canada Society
• Research Universities' Council of BC (RUCBC)
• Pacific Climate Impacts Consortium

6. Policy Territory

• Worldwide

Last Updated: September 14, 2011

AUTOMOBILE INSURANCE POLICY SUMMARY

1. What is Covered

The University of Victoria fleet automobile policy covers all listed vehicles owned or leased by the University. The policy provides protection for:

• Third party liability - that is, bodily injury or property damage to others for which the operator of an insured vehicle might become liable.
• Accident benefits - provides monetary benefits to eligible individuals in insured vehicles, as well as pedestrians or cyclists involved in a collision. These benefits extend to medical payments, rehabilitation costs and wage loss. University employees requiring information about personal medical benefits, disability and life insurance should contact the Benefits Office.
• Hit and Run and Under/Un-insured Motorist protection – pays when a motorist does not have enough insurance to pay for all the injuries or may not be insured at all.
• Inverse Liability Coverage – Covers vehicle damage not injury or death outside of BC where the law won’t let you recover losses from a driver who causes a crash.
• Note: Collision/Comprehensive - The University self-insures against physical damage to University vehicles.

2. Who is Covered

The automobile policy covers all employees of the University as well as others who are specifically given consent by the University to drive University-owned vehicles, while driving on University business. The policy does not apply to officers, contractors, volunteers, employees or students driving their own vehicles even if doing so on University business.

3. What is Not Covered

• property of the driver, occupants or University
• glass and tire coverage
• damage resulting from operation of the vehicle by unlicensed drivers, unauthorized drivers or impaired drivers

Last Updated:March 31, 2010

NON-OWNED AUTOMOBILE INSURANCE POLICY SUMMARY

1. What is Covered

This policy covers in excess of basic ICBC Autoplan coverage and covers claims for bodily injury or property damage arising out of the use of automobiles not owned by the University. This policy applies to other non-owned vehicles, which are being driven on University business.

2. Who is Covered

Officers, directors, and employees of the University who are driving vehicles not owned by the University, and who are driving on University business and have authorization to do so.

3. What is Not Covered

• use of vehicles outside the United States and Canada
• vehicles other than passenger and light commercial vehicles
• damage resulting from operation of the vehicle by unlicensed drivers, unauthorized drivers
• personal vehicles of officers, employees and students of the University

Last Updated: March 31, 2010

MARINE EQUIPMENT - LOCAL WATER DEPLOYMENT INSURANCE POLICY SUMMARY

1. What is Covered

• Total loss of Oceanographic equipment as listed on the insurance schedule whilst the equipment is in the water.
• Coverage is confined to the coastal waters of BC (Trading Warranty No. 3)

2. Deductible

• The deductible on this policy is $3,500.
• Risk Management may charge an internal deductible to faculties, departments, or ancillary units based on reason(s) for loss(es). The reason for the claim is reviewed prior to an internal deductible being assessed on the claim.

3. What is Not Covered

• Losses not reported to Risk Management & Insurance (and the Insurers) within 90 days of discovery. Please ensure that Risk Management & Insurance is informed immediately if this type of loss is suspected.

4. Policy Territory

• Warranted during the currency of this policy to be confined to the coastal waters of British Columbia including the West Coast of Vancouver Island and West Coast of the Queen Charlotte Islands, Puget Sound and adjacent waters, Juan de Fuca Strait and Southeastern Alaska but not warranted to navigate outside:

a) Outside (west) of a line drawn from 48°N 128°W

to 53°N 134°W
to 58°N 137°W
to Cape Spencer

b) On the Coast of Washington South of 48°N
c) On the Fraser River East of the mouth of the Sumas River.

Last Updated: March 31, 2010

MARINE EQUIPMENT - INTERNATIONAL WATER DEPLOYMENT INSURANCE POLICY SUMMARY

1. What is Covered

• Oceanographic Equipment asreported on the insurance schedule, on a deployment basis, as required by Research Departments.
• In transit and at rest at reported locations
• Coverage is limited to $500,000 CDN

2. Deductible

• The deductible on this policy is $5,000.
• Risk Management may charge an internal deductible of $2,500 to faculties, departments, or ancillary units based on reason(s) for loss(es). The reason for the claim is reviewed prior to an internal deductible being assessed on the claim.

3. What is Not Covered

• Losses not reported to Risk Management & Insurance (and the Insurers) within 90 days of discovery. Please ensure that Risk Management & Insurance is informed immediately if this type of loss is suspected.

4. Policy Territory

• Worldwide excluding Cuba, Iran, Iraq, Kampuchea, Laos, Lebanon, Libya, Nicaragua, North Korea and Vietnam

Last Updated: March 31, 2010

EQUIPMENT BREAKDOWN INSURANCE POLICY SUMMARY

1. What is Covered

• This policy insures against losses related to sudden and accidental breakdown of boilers, pressure vessels, refrigeration or air conditioning equipment, and mechanical or electrical equipment (including research equipment). The policy covers all such equipment located on the University's premises or at locations owned, operated or controlled by the University anywhere in Canada. The Equipment Breakdown insurance also covers extra expenses which might be incurred to conduct or continue business following a loss, as well as costs associated with business interruption at designated locations.

2. What is Not Covered

• losses caused by war, invasion, insurrection, revolution, military, etc.
• damage caused by fire, flood or earthquake
• damage to sewers, underground piping, sprinkler systems

3. Deductible

• Sudden accidents to boilers and related machinery can have devastating results and thus the policy has a high limit. The deductible is $25,000 for resulting water damage and $10,000 for property damage. Internal deductibles are charged out the same as the Property Insurance Policy Summary.

Last Updated: March 31, 2010

CRIME INSURANCE POLICY SUMMARY

1. What is Covered

• Theft of money or securities by employees or other employee theft
• Premises coverage - includes loss or damage as a result of robbery, safe burglary, etc.
• Transit coverage - destruction, disappearance or wrongful abstraction of money or security while being conveyed by an employee or armored motor vehicle company
• Depositors forgery coverage
• Credit card and computer fraud by a third party coverage
• Money order and counterfeit currency coverage
• Computer theft and funds transfer fraud coverage

2. Deductible

• Internal deductibles are assessed on a case by case basis.

3. Who is Covered

• University of Victoria and subsidiaries; University Club; Island Pacific Institute Foundation; UVic Foundation; UVic Board of Pension Trustees; Innovation and Development Corporation; U.S. Foundation for UVic, UVic Hong Kong Foundation.

4. What is Not Covered

• Student or employee groups having funds in bank accounts outside of the University, or these groups having funds physically held in areas on campus. These funds are not considered University funds.
• Losses from authorized or unauthorized trading of Money, Securities or Property
• The cost of reproducing information contained in any lost or damaged manuscripts, records, accounts, etc.
• Expenses incurred in establishing the existence or the amount of the loss
• Loss of trade secrets and other confidential information
• Fees incurred in prosecuting or defending any legal action

6. Policy Territory

• Worldwide except for Employee Benefit Plans in the United States

Last Updated: March 31, 2010

FINE ARTS INSURANCE POLICY SUMMARY

1. What is Covered

• This policy protects the University's fine arts and rare books collections against physical loss or property damage. It also protects items of the collection in temporary storage or transit, and protects collections on loan to or loaned by the University.

2. Deductible

• Risk Management may charge an internal deductible of $1,000 to faculties, departments, or ancillary units based on reason(s) for loss(es). The reason for the claim is extensively reviewed prior to an internal deductible being assessed on the claim.

3. What is Not Covered

• Losses resulting from wear and tear, deterioration, insect or animal pests and extremes of temperature or humidity;
• Loss or damage resulting from repair;
• Loss or damage resulting from any fraud, dishonest or criminal act committed by University employees or officer;
• Items of the collection which are shipped by regular mail;
• Books valued at less than $1,000.

4. Policy Territory

• Worldwide

Last Updated: March 31, 2010

HULL & MACHINERY INSURANCE POLICY SUMMARY

1. What is Covered

• Property and Liability from the John Strickland (1975 53' Aluminum Research Vessel) warranted that Kenneth Brown in command and is the only commander of the insured vessel at all times.

2. Deductible

• The deductible on this policy is $10,000.

3. What is Not Covered

• Losses not reported to Risk Management & Insurance (and the Insurers) within 90 days of discovery. Please ensure that Risk Management & Insurance is informed immediately if this type of loss is suspected.

4. Additional Insured (but only insofar as their legal liability arises vicariously out of negligent operations of the vessel)

• Western Subsea Technology Ltd.

5. Policy Territory

• Vessel is to be confined to the Coastal Waters of British Columbia (Trading Warranty #2a) including the North and West Coast of Vancouver Island, Puget Sound and adjacent waters and the straight of Juan de Fuca, but when proceeding North of Cape Calvert warranted to Navigate inside passage waters only, including the Portland Canal, but warranted not to navigate on the Fraser River East of the mouth of the Sumas River

Last Updated: March 31, 2010

PRACTICUM STUDENT ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE POLICY SUMMARY

For students to be covered under this policy Practicum Coordinators need to advise the Risk & Insurance Analyst in advance of the student beginning their placement.

1. What is Covered

• Accidental Dental Expense
• Accidental Reimbursement Expense
• Principle Sum Indemnity based on severity of injury but capped
• Prosthetic Appliances
• Emergency Taxi Benefit
• Rehabilitation Benefit
• Tutorial Benefit
• Dread Disease Benefit - Poliomyelitis, Scarlet Fever, Diphtheria, Spinal Meningitis, encephalitis, Rabies, Tetanus, Tularemia, Typhoid or Leukemia
• Special Confinement Benefit
• Aircraft Coverage Exposure and Disappearance

2. Deductible

• None

3. Who is Covered

• Graduate, undergraduate or professional certificate students of the University of Victoria who are enrolled in a Professional Certification or Degree Granting Program, who are required to enter in a Practicum or Work Experience which has been approved or arranged by the University of Victoria

4. What is Not Covered

• Intentionally self inflicted pain
• Riding as a passenger of a vehicle
• Any injury not reported within 30 days of the incident if reasonably possible. If disease occurs later it must be reported no later than one year from the accident date
• Any expenses incurred one year after the date of the incident

5. Policy Territory

• Worldwide

Last Updated: March 31, 2010

TRANSIT CARGO INSURANCE POLICY SUMMARY

Equipment purchases should normally be made on the basis of FOB point of delivery. That is, the vendor assumes the transportation risk (termed Free on Board or FOB) for the goods up to the point of destination which is normally to the University's premises and includes loading/unloading.

In certain cases, the transit risk may be negotiated separately for business reasons, for example when goods are being sent out for repair. When the University ships goods for purposes of repair, loan or for use in field research, either the shipping company or the University would normally undertake the transit risk.

Normally, if the shipper provides insurance, it is first dollar coverage at a tariff rate of 1% of the value of goods shipped and this is a cost effective alternative for low value shipments (up to $5,000). If the cost of the shipment is in excess of $5,000, the University maintains a transit insurance policy that is generally cost effective for larger value shipments when the premium cost is a significant factor.

The Risk Management and Insurance Department should be consulted for any special arrangements which need to be made in this regard.

1. What is Covered

• University of Victoria contents declared to Risk Management while being shipped to or from the University

2. Deductible

The deductible on this policy is $500 which Risk Management will charge back to the faculties, departments, or ancillary units that owned the shipment for any loss under this coverage

3. What is Not Covered

• Contents not shipped in their original packing or professionally packed
• Losses not reported to Risk Management & Insurance (and the Insurers) within 30 days of discovery. Please ensure that Risk Management & Insurance is informed immediately if this type of loss is suspected.

4. Policy Territory

• Worldwide excluding shipments to or from Afghanistan, Angola, Bolivia, Cuba, Ethiopia, former Yugoslavia, former Soviet Union, Iran, Iraq, Liberia, Libya, Myanmar, Nigeria, North Korea, Serbia and Montenegro, Sierra Leone, Somalia, Sudan, Syria, Uganda and Zimbabwe

Last Updated: March 31, 2010

TRAVEL ACCIDENT INSURANCE POLICY SUMMARY

1. What is Covered

• Any injury caused by an accident occurring while on University of Victoria business
• Any injury sustained in consequence of and during the course of any trip

2. Deductible

• None

3. Who is Covered

• All active full time and part time employees of the University of Victoria, all employees under grants and contracts administered by the University of Victoria, Members of the Board of Governors, Members of the University of Victoria Foundation and Members of the Foundation for the University of Victoria

4. What is Not Covered

• Anyone over the age of 79 unless scheduled on the policy
• Any suicide attempt
• Any declared or undeclared act of war
• Any injury or sickness as a result of aircraft travel
• Any injury not reported within 30 days of the incident if reasonably possible
• Any expenses incurred one year after the date of the incident

5. Policy Territory

• Worldwide

Last Updated: March 31, 2010

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VARSITY SPORT USA MEDICAL INSURANCE POLICY SUMMARY

1. What is Covered

As the result of any injury or sickness any of the following reasonable and necessary medical expenses shall be reimbursed:

• Excess Hospital and Medical Benefits;
• Emergency Dental Benefit;
• Subsistence Allowance;
• Repatriation Benefit;
• Attendant Travel Fare Benefit;
• Return of Vehicle Benefit;
• Family Transportation Benefit;
• Child Care Benefit; and
• Emergency Medical Evacuation.

2. Deductible

• None

3. Who is Covered

All athletes and coaches and volunteers under the age of 65 for the following varsity teams:

• Men's and Women's Soccer
• Men's and Women's Field Hockey
• Men's and Women's Basketball
• Men's and Women's Rowing
• Men's and Women's Golf
• Men's and Women's Swimming
• Men's and Women's Cross Country and Track & Field
• Men's and Women's Volleyball
• Men's and Women's Rugby

4. What is Not Covered

• Any event, sports trip, or event of competition exceeding 30 days
• Any expenses incurred after 52 weeks of the date of the accident or sickness
• Any condition or symptom which has received medical treatment, advice, counseling within 180 days of the insured person leaving the province of residence
• Any condition caused by the abuse of drugs, toxic substances or incidents caused by the influence of alcohol

5. Policy Territory

• Worldwide

Last Updated:March 31, 2010

COURSE OF CONSTRUCTION & WRAP UP LIABILITY INSURANCE PROGRAM SUMMARY

Course of Construction and Wrap Up liability insurance for contracts with a total value in between $100,000 and $1,000,000 are purchased on a blanket basis and are reported annually to Risk Management & Insurance.

Contractors are responsible for coverage for renovations of existing buildings where the renovation cost is less than $100,000. Contractors must provided evidence of their own insurance to cover their actions in the form of insurance certificates.

Any project with a value in excess of $1,000,000 will be insured on a stand-alone basis. Coverage will be arranged by Risk Management as per the below process:

STEP 1: Project Manager – Meet with the Project Manager a minimum of 2 months prior to the beginning of the construction project to complete the Course of Construction Application and Wrap Up Liability applications. Also prepare for the meeting hard copies of the following attachments:

• Project Drawings
• Geotechnical (soil) report
• Construction Schedule
• Plot & Site Plan
• Breakdown of Values
• Resume for Project Engineer
• Construction Management Contract
• General Area Map
• Site Plan Survey
• The account number that will pay the insurance premiums

STEP 2: Risk Management & Insurance will review the applications, discuss any issues with the Project Manager and the insurance brokers, and discuss the insurance quote with the Project Manager.

STEP 3: If a Warranty Clause is required by the Insurer, Risk Management & Insurance will forward such to the Project Manager and the Construction Manager for their comments.

STEP 4: Risk Management & Insurance will bind the insurance. NOTE: This step must be completed and response from the insurance broker received in writing prior to any construction work being commenced.

STEP 5: Once coverage is confirmed to be bound, Risk Management & Insurance will confirm for the Project Manager that coverage is in place. Certificates of Insurance are available to Project Managers and Construction Managers upon request.

PROJECT EXTENSIONS

• At a minimum of 3 weeks prior to the original expected termination date of the Project, if the project is expected to require further time to complete, the Project Manager will submit a request to Risk Management & Insurance to extend the project.
• Risk Management & Insurance will forward the request to the Insurers and will forward the Insurer's consent and the premium cost increase to the Project Manager.

CERTIFICATES / COSTS REQUIRED

The following documents are required to be sent to Risk Management & Insurance within the timelines indicated, to ensure that the Course of Construction & Wrap-Up Liability Insurance policies are appropriately terminated and that the building is transferred to the regular property insurers of the University within the parameters of the insurance policy requirements:

• Certificate of Substantial Completion - within a minimum of 15 days after the Certificate of Substantial Completion is received, the Project Manager will forward a copy of this certificate to Risk Management & Insurance.
• Final Costs - within a minimum of 30 days after Substantial Completion of the project, the Project Manager will forward the final costs for the project to Risk Management & Insurance.

Last Updated: March 31, 2010