The University self-insures for most types of property loss and damage in order to minimize the effects of unexpected losses on the teaching, research, and public service functions of the University.
Coverage is automatic and no premiums are charged to departments.
Departments have the option to purchase additional insurance for the reduction of the theft deductibles. Ultimately, however, protection from, and prevention of, direct property loss is the responsibility of individual departments and employees. Coverage for direct loss under this program is extended to property owned by or in the care, custody, and control of the Regents, regardless of location and while in transit when the loss is caused by covered perils. Coverage is extended worldwide for all risk of direct physical loss or damage from an external cause except as noted below. Buildings and appurtenant structures owned or for which responsibility has been assumed under a written agreement.