In compliance with this policy any loss, damage or theft incidents involving equipment must be reported immediately to the Security and Parking Department to initiate adequate emergency procedures. Any incident involving an insurance claim will be reported immediately by security to the Risk Management and Purchasing Services for necessary action. The insurance policy maintained by the University has a deductible of $250,000.
A) CLAIMS FOR EQUIPMENT LOSS, DAMAGE, OR THEFT
Laurentian University has established a program to cover losses, damages or theft of University assets.
The University has established a Self-Insurance Fund which can assist to recover some of the department's losses.
The fund covers losses per theft between $1000 and $250,000. THE FIRST $1000 MUST BE COVERED HOWEVER BY THE DEPARTMENT, FACULTY OR SERVICE CONCERNED.
B) PERSONAL PROPERTY
All personal property belonging to employees, Associations, Groups, Students etc. that is kept in University buildings should be protected by insurance taken out by the employees, Associations, Groups, Students, etc.
The University is not responsible for Personal property.
C) DEPARTMENTAL EQUIPMENT
Each department should have a good risk management program in order to protect University owned equipment under the control of the department against loss, damages or theft. This risk management program should also apply off campus for University owned equipment.
We recommend that you contact the Security and Parking Department for assistance in assuring security standards.
If you have any questions, please do not hesitate to contact me at your earliest convenience at extension 1555.