COMBINED PROPERTY
(Also known as Industrial Special Risks)
This policy covers the physical loss, destruction or damage to all tangible property (principally buildings and contents) of every kind and description belonging to UTS, or for which UTS is responsible or has assumed responsibility to insure prior to the loss, including consequential losses. Machinery breakdown is also insured.
The policy applies anywhere in the world. Property is insured for reinstatement and replacement value.
TYPICAL LOSSES
Typical causes of loss insured under the policy include (insured peril): fire, storm, wind, lightning, explosion, impact, earthquake, machinery breakdown, theft, loss of research due to an insured peril, prevention of access due to an external event, loss of revenue or profit (consequential loss).
EXCLUSIONS
A number of exclusions apply to the policy; the principal exclusions are “wear, tear and gradual deterioration” and damage caused during “processing”. Damage attributed to these factors is not covered. Please note that this applies to the “part immediately affected”, not necessarily to resultant damage.
MITIGATION OF LOSS
We are obliged to use due diligence and do all things reasonably practicable to avoid risk of loss.
DEDUCTIBLE
Most insurance claims are subject to a deductible, sometimes known as the ‘excess’. This amount is deducted from the claim value and the balance is paid by insurers. UTS seeks to encourage a positive attitude to risk management and loss control. The theft of property deductible, payable by the School / Unit / Division, is presently $3,000 where the Office / Faculty / Unit / Division / Affiliate failed to take reasonable precautions against loss / damage, but only $1,500 is applied to claims where sound practices have been adopted (unless otherwise separately advised).
COMPUTERS, OFFICE, LABORATORY & LECTURE ROOM EQUIPMENT
Precautions must be taken to prevent the loss of easily transportable equipment as negligence provisions may be used to deny a claim. Cost of data recovery will not be met where back-up procedures have not been observed or where the method and location of the storage of back-up material could be deemed negligent.
Appropriate safety precautions must be taken with computers, etc when travelling and where possible this equipment should be carried as hand luggage. If it has to be treated as non-cabin luggage, correct packaging must be used to protect from damage, otherwise a claim may be denied.
EQUIPMENT - USE OUTSIDE UNIVERSITY
(Including Media Centre Equipment)
Some equipment will always be used outside the University (eg on field trips or used at home) and the rules and procedures applicable to this situation are stated in the Asset Control Policy. UTS Insurance must be advised via email at insurance@uts.edu.au if equipment exceeds the value of $20,000, or irrespective of value, if it is to be off campus for a period in excess of three months. Precautions must always be taken to prevent loss, destruction or damage to equipment and all property must be marked with the University’s name and address. Portable equipment should be carried as hand luggage and equipment should not be left in cars so as to invite theft. Failure to adhere to these practices may result in a claim being denied.
Portable equipment should be secured by devices such as security cabling. Rooms should be locked when the room or the adjoining area is unattended.
PERSONAL PROPERTY
Personal property is covered when prior written approval has been given by your supervisor for the use of that property on official University business. Other personal property is not covered when on University premises (your own insurance may cover this event).
THEFT
Theft usually occurs in situations where property is left unattended or exposed to the opportunist thief. All staff should challenge ‘strangers’ in non-public areas of the University and, if not satisfied with an explanation, contact Security (Dial ‘6’). It is essential to ensure that offices or rooms are locked when unattended, and all portable equipment is to be kept secure when not in use. When theft is discovered contact Security and then send them a completed Incident Report as soon as possible. Please contact the Security Office (x1191) for further advice.
Portable equipment should be secured by devices such as security cabling. Rooms should be locked when the room or the adjoining area is unattended.
CLAIMS NOTIFICATION
A Claims Notification Form should be prepared by the person responsible for an asset which has been subject to loss or damage. This form is to be forwarded to UTS Insurance with a copy of the related Incident Report (from Security Services) shortly after the loss or damage has occurred. The claim will be assessed and a payment will be made subject to the level of deductible applicable.
FIRE PROTECTION & WARNING SYSTEMS
All work affecting protection systems (hydrants, risers, sprinklers, evacuation, security etc) must be authorised by Facilities Management Unit before being undertaken and the correct ‘red tag’ procedures followed to ensure that alternative systems are in place and that our insurance cover is maintained when these services are inoperative. Insurers must be advised before any extensive repairs or changes to the systems are commenced.
USE OF SERVICES
(Water, Electricity, Gas, Compressed Air etc)
New or additional services or alterations to existing services for the use of UTS or contractors must be authorised by and arranged in conjunction with Facilities Management Unit. Contact the Building Services Manager, (x8602) before commencing work or connecting with or altering services.
HOT WORK - WELDING/CUTTING
If there is going to be on-site welding etc it is essential that insurance for such ‘hot work’ be included in any building works insurance cover. Facilities Management Unit must be consulted before any hot work is authorised and, if adequate safety procedures are evident, a permit will be issued. This applies to all hot work whether being done by contractors or UTS employees.
CONTRACT WORK
The University has personal injury and property damage insurance for building projects up to a value of $2M where work is carried out by UTS employees. When the value of work exceeds this limit separate policies must be put in place. It should be emphasised that only UTS is named in this cover. Contractors do not have the benefit of cover under the UTS Contract Works extension and UTS should not waive Insurer’s right of recovery for damage caused to UTS property by contractors.
Contract works conducted by a contractor must be insured to UTS requirements, by the contractor. Please obtain details from the Facilities Management Unit.
CLAIM OCCURRENCE & REPORTING
The occurrence of damage which may result in a claim must be promptly reported to UTS Insurance via email at insurance @uts.edu.au who will advise Insurers and arrange for a Loss Adjuster to attend UTS premises (if necessary). The UTS Security Services Incident Report should also be completed as and when appropriate. Do not delay reporting, pending repair or final determination of the damage. Insurers are entitled to view the damaged property prior to repairs being effected. UTS is obliged to take reasonable action to prevent risk of further damage and to make the premises safe. Payment will be made subject to the level of deductible applicable.
EXCLUSIONS
A number of exclusions apply, including workers’ compensation claims for UTS employees, claims involving registered motor vehicles, aircraft, aerial devices and motorised watercraft exceeding 10m in length (whilst afloat) and gradual pollution.
We are obliged to use due diligence and do all things reasonably practicable to avoid risk of loss.
On NO account are staff to admit liability in relation to an incident from which a claim may arise as this may compromise the University’s position. You should advise the other party that the matter will be investigated and promptly provide full details to the UTS Insurance. UTS is not permitted to offer settlement of a claim unless by consent of our insurers.
Insurers are entitled to full discretion in the conduct of any proceedings in connection with a claim and to the full co-operation of UTS in the investigation, evaluation, defence and settlement of a claim.
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