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Risk Management FAQs
I have been asked for a certificate of insurance.
What is that and how do I get it?
A certificate of insurance is proof of insurance. It is a document that we
provide to an outside party we are contracting with in some manner, to show we have the insurance
coverage they require of us. It can be obtained by requesting it from Gabby Reissland
at reissland.1@osu.edu. Her
telephone # is 247-8840. For information needed, please see
the Certificate of Insurance.
I had a computer stolen. Do we have insurance for that?
The University is self insured for first $1 million for most property
losses. The General Fund underwrites the exposure so that a department will pay no more
than $10,000 per any occurrence. If your loss exceeds $10,000 in value, you should submit
a Claim Form. Please
see the Loss Reimbursement Policy
before you submit a claim.
We had damage to our space due to a flood, fire, lightning, or other disaster.
Is that covered
?
The answer is the same as #2 regarding coverage and reimbursement. You should contact Physical Facilities or your property manager for clean up and repair. You should keep track of your out of pocket expenses, since that is what your claim will be based upon. You will not be reimbursed for your time or labor.
We are negotiating with an outside party and they are requiring us to have various types and limits of insurance. Is that something we can agree to
?
In most cases we can agree to insurance requirements. You should have a representative from Legal Affairs review your agreement and they will know what can be agreed to. If they have any questions they will consult with Risk Management.
Our department is considering a risky activity and I am worried about the liability. Do we have insurance to cover that?
The University does have an umbrella liability policy covering the institution, its boards and employees, and its volunteers. However, we are self-insured for the first $5 million. The General Fund does not have a similar policy to property whereby the department's exposure is limited to a sum certain. There is a process where the department can apply for relief through the Legal Reserve Fund. Please see Risk Management Policy for a full discussion.
Does the University have automobile insurance?
All street legal, University owned, leased, or rented vehicles are covered by the University's self -insurance program. Similar to the property program, each accident will result in no more than a $10,000 loss to a department. The General Fund underwrites the remainder of the exposure.
What do I do if I have an automobile accident?
Call the police and have a report taken at the scene. Obtain the other driver's name, address, phone #, insurance information, and the make, model and license # of the other vehicle. At first chance, call Bonnie Long at Transportation and Parking at 292-6122 to report the accident.
If I have an accident while driving my personal car for University business, will the University cover the loss?
No, your personal insurance will respond. Part of the mileage reimbursement rate is to cover your cost of automobile insurance.
If I rent a vehicle while traveling should I obtain the insurance from the rental agency?
Yes, you should obtain the rental insurance. This way you will not be subject
to the $10,000 department deductible, and claims handling is done through the rental
agency. Otherwise it can be very difficult for the University to settle a claim for an out
of state accident.
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