InsuranceInsurance

TopicsTopics

• Vendors• Coverage/Policy Summaries• Certificates of Insurance• Liability Waivers• Reporting Stolen or Damaged University Property• Reporting On Campus Accidents• Contract/Agreement Reviews

CURIECURIE• CURIE (Canadian Universities Reciprocal Exchange)

• Established in 1987 to provide universities with a guaranteed source of insurance

• Owned and managed by universities• Currently 58 universities are members• Advantages

• Premiums substantially below market prices• Policies tailored for universities (professional liability,

student medical malpractice liability and sports and recreational activity)

• Higher policy limits

Marsh Canada Ltd.Marsh Canada Ltd.

• Broker for remaining commercial coverages

• Advantages• Works closely with CURIE • Represents many universities and thus is able to

provide reduced premium rates

Policy Summary - PropertyPolicy Summary - Property• Provides coverage for property of every description

anywhere in Canada and the United States, owned by the University or by others which the University has assumed responsibility

• Includes extra expense, loss of rent or rental value and business interruption

• Property anywhere in the world subject to a maximum recovery of $1,000,000 in respect to any one loss including transit and temporary storage

• Deductible - $50,000• Departments are responsible for the first $5,000

Policy Summary – PropertyPolicy Summary – PropertyContinuedContinued

• Some exclusions include:

• Motor vehicles

• New building structures during the course of construction

• Aircraft, watercraft over forty feet

• Personal property of students, faculty or staff

• Currency, money, notes, securities, stamps, jewelry

• Fine arts

• Rare books valued in excess of $1,000

• Biological material (includes animals involved in research)

• All other live animals

Policy Summary - LiabilityPolicy Summary - Liability

• Broad coverage:• Bodily injury• Personal injury (false arrest, false imprisonment,

invasion or violation of privacy, libel, slander)• Property damage• Property damage – leased property• Professional and malpractice

• Deductible - $1,000 (covered by the University)

Policy Summary – LiabilityPolicy Summary – LiabilityContinuedContinued

• Some exclusions include:

• Workers’ Compensation

• Automobile

• Aircraft

• Watercraft

• War

• Pollution

• Products or work

• Employment related practices

• Nuclear

• Human Rights

• Intellectual property

Policy SummaryPolicy SummaryError & OmissionsError & Omissions

• Provides coverage for liability arising from wrongful acts in the rendering or failure to render professional services

• Includes Errors and Omissions and Professional Liability• Deductible - $1,000 (covered by the University)• Some exclusions include:

• Fines or penalties imposed by law• Personal advantage (person profit not legally entitled)• Illegal remuneration• Dishonesty• Violation of Statute• Employee benefits• Bodily and personal injury, property damage

Policy Summary - AutomobilePolicy Summary - Automobile

• Provides coverage for all licensed vehicles owned or leased by Ryerson on a long term basis

• Covers employees of the University, as well as those who are specifically given consent to drive University owned vehicles while on University business

• Employee names and drivers license numbers must be submitted before driving University owned vehicles

• Driver profile must be completed annually

Policy Summary – Non Owned Policy Summary – Non Owned AutoAuto

• Complements the Automobile Policy • Provides coverage for claims for bodily injury or property

damage arising out of the use of automobiles not owned by the University (short term rentals) provided the University’s name is on the agreement and is being used for University business

• Highly recommended that you purchase extra insurance offered by car rental companies under Ryerson’s name

• Excludes vehicles owned by University employees• Deductible $1,000

Policy Summary – Boiler and Policy Summary – Boiler and MachineryMachinery

• Provides coverage for losses relating to sudden and accidental breakdown of all boilers, pressure vessels, mechanical and electrical machinery

• Various deductibles depending on type of property and size

Policy Summary - CrimePolicy Summary - Crime

• Provides coverage for theft of money or securities by employees or others

• Includes fraud or dishonest acts committed by an employee

• Various deductibles depending on type of loss (Employee dishonesty, Loss inside or Outside Premises)

Policy Summary – Fine ArtsPolicy Summary – Fine Arts

• Provides coverage for the University’s fine arts collection against physical loss or damage

• Premium is based on total value of collection

• Collection is itemized and provided to the insurance company

• Acquisitions (either donated or purchased) should be added

Policy Summary – Umbrella Policy Summary – Umbrella LiabilityLiability

• Provides increased limits over and above the limits provided by CURIE’s General Liability policy, Educational Errors and Omissions, Automobile and Non-Owned Automobile policies

• Inexpensive way to increase liability coverage

Policy Summary – User Group Policy Summary – User Group ProgramProgram

• Available to outside companies/groups using Ryerson facilities who do not have their own liability policies

• Premiums charged to companies/groups are based on type of events, length of event and number of attendees

• Ryerson pays a minimum premium

• All premiums collected over and above the minimum are paid to the insurance company annually

Certificates of Insurance (COI)Certificates of Insurance (COI)

• A COI is an indicator of adequate insurance coverage in force

• Form is completed by the Insurance Company• Who requires COI’s? ie:

• Students on placement• Students filming on location• Outside companies using Ryerson facilities• Ryerson using city property (orientation – street

closures)

Certificates of Insurance (COI)Certificates of Insurance (COI)ContinuedContinued

Information required to complete a COI• Name and full address of Certificate Holder• Contact name, title, phone #, fax # and e-mail address• Nature of operation ( ie: student placement)• Date(s) of event (ie: Sept 1, 2009 to April 30th, 2010)• Limit of liability (ie: $5,000,000)• Additional Insured?

• Upon receipt of complete information, Carrol Scanlan, Insurance Officer, will arrange to have the COI issued by CURIE

• Carrol will forward the COI to the appropriate parties • Please allow at least 5 working days for the completion of

COI’s

Liability WaiversLiability Waivers• It is a legal document and by signing the Waiver and Indemnity, you are

giving up certain legal rights, including the right to sue, should you be injured while participating in the named activity

• Waivers are written specifically for each event• Lists all the potential risks• Samples:

• Voluntary field trips • Student activities (a student risk assessment form must be

completed – Student Services, Student Programs)• Sport activities

• For travel a Risk Assessment must be filled out by Faculty member (at least 6 to 8 weeks prior to Travel)• On line Risk Assessment are located on Centre for Environmental

Health, Safety and Security Management’s web site

Reporting Stolen or Damaged Reporting Stolen or Damaged University PropertyUniversity Property

• Contact Campus Security immediately at 5040

• Contact Carrol Scanlan, Insurance Officer, at 5013 with details

• Date of loss, description of property, value of property

Reporting On Campus AccidentsReporting On Campus Accidents

• Contact Security immediately at 5040• If it is an emergency dial 80 on internal phones• Security will administer first aid• Complete a “Internal Accident/Incident/Exposure (AIE) Report”

• There are 2 types of AIE reports• (1) For faculty & staff and • (2) For students and others

• Forms can be found on the following website: http://www.ryerson.ca/cehsm/forms/index.html

• Completed forms should be forwarded to the Centre for Environmental Health, Safety and Security Management

• Contact Carrol Scanlan, Insurance Officer at ext 5013

Contract/Agreement ReviewsContract/Agreement Reviews

• All contracts/agreements must be submitted to Carrol Scanlan, Insurance Officer, for review prior to being signed.

• Some insurance clauses may include: • Hold harmless clauses• Indemnity clauses• COI requests

Contact InformationContact InformationCarrol Scanlan

Insurance Officer

Financial Services

9th Floor, Suite 930

1 Dundas St W

Extension 5013

In Carrol’s absence please contract:

Diane Winiarz

Extension 6556

Questions ??Questions ????