Boiler & Machinery (BUS-64)
COVERAGE:
This program was established to cover power equipment and its exposure to explosion and mechanical breakdown. Coverage is provided for damage to the equipment and any consequential damage to other property. For example, if refrigerated materials (specimens, etc.) are destroyed as a result of a refrigeration system breakdown, those materials would be covered under this program.
EXCLUSIONS:
Damage to University property caused by events that are covered under the University's Property Insurance Program (BUS-28). Also, there is no coverage for losses resulting from a utility interruption (i.e.: the delivery water, electricity, or gas).
PREMIUMS:
Coverage is provided free of charge to University departments. Auxiliary enterprises are assessed an annual charge which is based upon their total property values and their past claims experience.
DEDUCTIBLES:
$100,000 per occurrence which is paid by the department.
SECURING COVERAGE:
Coverage is automatically provided for all current University locations. Newly acquired buildings should be reported to Risk Management Services to ensure coverage for those properties.
CLAIMS:
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Notify appropriate authority (police, fire, etc.)
- Notify Risk Management Services at 757-8391.
- The appropriate authority's report; a reference to the claimants' fund reimbursement number, and claim cost documentation (i.e.: invoices, purchase orders, estimates for repair, inventory records, etc.) should be submitted to Risk Management services for reconciliation. Office of the President, Risk Management typically takes 6 to 8 weeks to transfer funds for covered losses.
LOSS CONTROL:
Campus Facilities or the appropriate maintenance contractor should be notified promptly if and when a possible boiler and machinery problem surfaces.