Insuring Capitalized Assets
University of California Office of the President (UCOP) Risk Services manages a self-insurance program that provides coverage for loss of assets. All campuses and medical centers contribute to the fund annually. Valuation of loss is based on repair or replacement of damaged or destroyed property. Deductibles per occurrence:
- Water Damage: $5,000
- Fire Damage: $5,000
- Forced Entry: $1,000
- Non-forced entry: $5,000
A department may reduce the deductible for forced-entry theft to $250 and to $1,000 for non-forced entry theft by purchasing additional coverage in advance. The cost for additional coverage is $0.40 per $100 of insured equipment value. All premiums for this insurance will be recharged to the department chartstring. For laptops, departments can reduce their deductibles to zero dollars if:
- They have purchased Theft Buy-Down coverage, and
- Staff have received IT Security Awareness Training, and
- The department has installed Enterprise Information Security-approved encryption software.
When a loss occurs, the department needs to promptly report the loss to:
- UCSF Risk Management and Insurance Services, and
- UCOP Risk Services, and
- the local Police Department.
For more comprehensive details on the self-insurance program, please visit Property Self-Insurance (opens in new window) on the UCSF Risk Management and Insurance Services website.