Risk Management FAQ
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The University has insurance for qualifying perils that damage property. There must be damage to a structure or its contents caused by the qualifying peril. Damage from fire, high winds, lightning, and some floods qualify as a peril. There may be other causes of significant damage to property. Contact OSU Insurance (see contact information above) to determine whether you have a qualifying event. Anytime you believe that you may have an event that qualifies for insurance, you should photograph damage and document the event. You should also contact Facilities or your property manager for emergency repairs, cleanup, and restoration. You must keep track of the costs of repairs and associated expenses. You will not be reimbursed for your time or labor.
We are negotiating a contract with an outside party. They are requiring us to have various types and limits of insurance coverage. What should we do?
You must have a representative from Legal Affairs review your agreement. If there are any questions regarding the terms or limits for insurance, Legal Affairs will consult with Risk Management.
If I rent a vehicle while traveling on university business, should I obtain the insurance from the rental agency?
Yes, you should obtain the Loss/Collision Damage waiver (also known as DW, CDW, and LDW) and liability coverage from the vehicle rental agency. The University's contracted rental car agencies include these coverages at no additional cost; contact the University Travel Office at 614-292-9290 for details. This way your department or unit will not be subject to any department deductible and claims handling is done through the rental agency.
Liability insurance would respond to the damaged caused by the renter or user of our space. The user of our space would find coverage either through an existing policy, this could be through their company liability policy, a related national association, an endorsement to a homeowners policy or purchase of a short term policy such as Tenant User Liability Policy (TULIP).
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 firstname.lastname@example.org or phone 614-247-8840. For information please see the Certificates of Insurance PDF.
In most cases the answer is yes. The continuity planning program has been in place for over ten years. Please contact Business Continuity Management to see if your area has a plan in place.
No, the continuity planning program is designed to walk your area through the entire planning process. This process is facilitated by a certified continuity professional who will be your planning expert. This process will help you quickly and cost effectively establish your plan and integrate your area into a larger support network you can count on at time of incident.
The facilitated planning process insures your plan will meet the necessary plan requirements for your area. The program is designed to simplify the planning process so that your area spends time concentrating on strategy development vs. learning how to be a continuity planner.
All departments can benefit from participating in the continuity planning process. The first step is completing a business impact analysis and risk assessment for your area. If a plan is recommended, it can be established and exercised in as little as 3-6 planning sessions.
No, plans are documented in a planning system that captures data for medium to large scale incident management. Plan development is a facilitated process. Please contact your continuity plan coordinator for planning assistance.
Initial plan development can take as little as 3-6 1.5-hour planning sessions. The plan should be updated every six months and exercised once a year. The annual planning cycle is designed to progressively mature the plan over time.
The planning process is covered in the Planning Process Overview. Please feel free to contact your continuity coordinator to discuss details and schedule a presentation for your area.
No, a plan is a living document that, over time, is matured into a more comprehensive set of validated and exercised strategies that can be implemented in the face of a disruptive event. Please contact your continuity coordinator to design a plan maturity process for your area.
No, the University planning process is required. Plan data documented in the planning system are a resource used by your continuity coordinator to assist the University Emergency Operations Center in managing medium to large scale incidents.
The University is self-insured for the first $1 Million for most property losses. The General Fund underwrites the exposure so that a department will pay no more than $50,000 (or $100,000 water related) per any occurrence. If your loss exceeds $50,000 in value, you should submit a Property Insurance Claim Form with OSU Insurance and file a report with OSU Police.
Please see the Loss Reimbursement Policy before you submit a claim.