The College's insurance program provides broad all-risk coverage for damage done to College owned buildings, equipment and contents. The College utilizes a large deductible insurance program to cover losses to Dartmouth-owned property (buildings, contents and equipment). Reporting departments are responsible for the first $1,000 of any insured loss (fire, flood, theft, etc.). The Office of Risk and Internal Controls Services (RICS) will reimburse the reporting department for losses between $1,000 and $100,000. Commercial insurance is responsible for amounts over $100,000. Managers should track expenses associated with a loss to ensure proper allocation of costs.
1. When a loss occurs the reporting department is responsible for taking immediate action to protect undamaged property to contain the loss.
2. Claims should be reported to RICS within 24 hours of discovery of the loss. Late reporting may bar coverage for the claim. The reporting department shall complete the Property Damage Report and fax it to 646-9199 or e-mail it to Risk.Management@Dartmouth.edu.
3. If the loss involves the theft of College property the reporting office should also notify Safety and Security.
4. Detailed itemized estimates to repair or replace the damaged property need to be provided to RICS. For losses greater than $50,000 two or more quotes are required.
5. Damaged property needs to be retained for inspection by RICS or the insurance adjuster.
6. Faulty equipment or defective parts that cause a loss must be retained to enable pursuit of recovery from the responsible manufacturer or contractor.
7. A worksheet summarizing the cost of repairs with supporting paid invoices needs to be provided to RICS in order to receive reimbursement.
8. Damaged property should be repaired or replaced and all documentation needs to be submitted to RICS in a timely manner, within 180 days of the loss. Failure to do so may void the claim making the reporting department responsible for paying for the full cost of repairs. Requests for an exception beyond 180 days due to extenuating circumstances may be granted by RICS.
Please contact the Manager, Claims and Loss Control at (603) 646-3839 if you have any questions.
Last Updated: 10/6/09