Property Protection & Claims Management

The University obtains insurance or self-insures against losses or damage to University property. Departments that suffer damages are encouraged to cooperate with Risk Management to promptly investigate, settle, and mitigate the extent of property claims.

University employees’ personal property (Cameras, Computers, Tablets, iPads, Cell Phones, etc.), whether used to perform assigned duties or not, is not covered by LU insurance. It is your sole responsibility to maintain adequate property insurance. If you are unsure about how these are covered under your personal insurance please contact your personal homeowners or renters insurance agent.

Procedures

• Notify LU Police Department (LUPD) at (434) 592-7641
• Call the Office of Risk Management at (434) 592-3582 within THREE days of knowledge of loss by telephone and submit a Property Loss/Damage Claim Report
  • Each claim is subject to a $25,000 per occurrence deductible, which is generally charged to Physical Plant as a maintenance cost
  • All property losses should be reported even if the perceived loss is under the deductible
  • Requisition for property insured must be submitted through Risk Management for processing
  • Payment to replace stolen or damaged equipment will not be made until requisition replacing equipment is received by Risk Management, unless special arrangements are made through Risk Management
  • It is expected that stolen or damaged equipment will be replaced within a reasonable time frame
  • When submitting the requisition, send a cover memo with it referencing the date of occurrence and the specific equipment that is being purchased to replace the stolen or damaged item; if only replacing a portion of the items stolen or damaged, please include that information on the cover memo
• Submit a Property Loss/Damage Claim Report to the Office of Risk Management and make sure to include the following:
  • Date of occurrence
  • Detailed information regarding property damaged or stolen
  • Serial numbers, if available
  • Substantiation of replacement cost of item(s)
• Include these additional items on the Property Loss/Damage Claim Report if/when available:
  • Photos
  • Estimate of damage
  • Inventory of damaged/missing items
  • Copies of bills/invoices for repairs/replacement
  • Proof of payment
• Things to know about the Property Loss/Damage Claim Report:
  • Use this form to first report potential or actual loss or damage of University-owned property to the Office of Risk Management
  • Resubmit an updated form when additional information is obtained
  • Each department must complete this form as soon as they are made aware of an incident
  • Applicable loss sharing/deductibles will be assessed against the total reimbursement for each incident
  • Inaccurate or incomplete reports will slow the recovery and reimbursement process
  • Failure to provide timely notification or supply required documentation and cooperate with the University’s loss adjustment personnel may jeopardize potential recovery for the University and your department
• If lost or damaged equipment was purchased using grant money or restricted funds please be sure to inform Risk Management when making your loss report

Suggestions to Minimize Property Losses

• Keep your departmental inventory list updated; include location of the equipment and who is responsible for maintenance, daily checks, etc.
• Back up data on computer and keep back-up at another location
• Establish a check out system for all equipment loaned or removed
• If an item is taken out of storage and its location and intended date of return is not documented, it will be difficult to show an actual theft of the equipment
• Without evidence of theft, a missing item becomes a case of “Mysterious Disappearance” which is not covered by insurance
• Make sure property is secured when not in use
• If your equipment or property is publicly accessible after hours, consider a check-in point with a responsible person monitoring use and activity
• Post notification of proper use of and care for the equipment
• Keep rooms or offices locked when unoccupied
• Do not store expensive equipment in basements susceptible to seepage
• Keep equipment on pallets or store on shelves
• Be sure to close all windows at the end of the day for security reasons; this can also help to prevent the freezing of pipes in the winter, which can lead to serious water damage
• Be fire safety conscious; do not use extension cords or space heaters for long-term use
• Be sure to turn off all appliances when building is unoccupied
• Become familiar with the use of a fire extinguisher by remembering the acronym P.A.S.S.:
  • Pull the pin to release the trigger
  • Aim at the base of the fire
  • Squeeze the trigger
  • Sweep the nozzle from side-to-side
• Don’t let combustibles accumulate in storage areas and hallways
• Report all maintenance problems, such as water leaks, to Facilities Management at (434) 592-3500 if urgent, or if not an urgent matter, via the Work Order System

Contacts

Office of Risk Management: (434) 592-3582 (leave message).