CAMPUS RISK MANAGEMENT
July 14, 1994
KEY ADMINISTRATORS/KEY SUPPORT STAFF
SUBJECT: Purchase of BUS-28b Theft Buy-Down Insurance
During the period July 1 to August 15, 1994, departments may purchase Theft
Buy-Down Deductible insurance. This paid coverage lowers insurance deductibles and protects inventoried equipment purchased or possessed by the University. The voluntary insurance program is intended to provide additional coverage for equipment having a high probability of theft.
Cost for the insurance is $.65 per $100 of insurance and is assessed in a
yearly premium charge.
The program provides for deductibles of $1,000 for non-forced entry and $250 for forced entry thefts. Absent this purchased coverage, the University's basic insurance theft deductibles are $5,000 for non-forced entry and $1,000 for forced entry thefts. Losses exceeding the purchased insurance amount will be afforded coverage by the basic policy.
Risk Management encourages departments to carefully consider the
additional financial protection offered by the Theft Buy-Down Deductible program. Risk Management advises departments wishing to purchase the insurance consider $10,000 as minimum coverage. Those departments with special needs or wanting advice may contact Risk Management for consultation.
Please note the Theft Buy-Down Deductible program will not cover
intangible property (most notably software) or lockdown/security equipment. For personal equipment to be covered under this program, a completed Equipment Inventory Modification Request form must be on file. Equipment Inventory Modification Request forms may be obtained from Equipment Management.
Attached is the purchase form. A separate form is required for each Index/Fund/Org number. A $5 per form processing fee will be added to the charge of $.65 per $100 of insurance.
The purchase period ends August 15, 1994 and no request for coverage will be honored after this date. Questions regarding this program should be directed to Kenneth Jay (44237) or Diana Olson (43820).
Kenneth Jay
Associate Risk Manager
___________________________________________________________________
Campus: San Diego Year 1994-95
Purchase Form
BUS-28B
Theft Buy-Down Deductible Program
($.65/100 of Insurance)
Department:__________________________________________________
Index:_________________________ Fund:________________________
Amount of Insurance for 1994-95: $___________________________
Contact:_____________________________________________________
Telephone:___________________________________________________
Mail Code:___________________________________________________
Departmental Approval:
_____________________________________________________________
Name Date
Return to Risk Management by August 15, 1994.
E-Mail: Diana_Olson@EHS.UCSD.edu
Mail Code: 0925
FAX: 534-5202