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Property insurance

Introduction

This is a summary of the University's property insurance. It is intended to assist University administrators in identifying their unit's insurance needs, and outline the necessary course of action to be taken. We hope that you will ensure its widest circulation, and retain a copy for future reference.

What is insured

General contents, including equipment, furnishings, libraries permanently installed in buildings owned or leased by the University are automatically insured for fire and water damage if that equipment is considered owned by McGill. Ownership is defined as property either donated to the University or purchased through Procurement Services on operating or research accounts.

The University self-insures against the loss of equipment by theft when it occurs on our premises. Stolen equipment will be replaced by the teresa [dot] standing [at] mcgill [dot] ca (Office of Planning and Institutional Analysis) according to their guidelines. Please contact the UPO for more information. This applies only to University-owned equipment, and does not include personal property of any kind.

What requires special attention

  1. Non-owned property which is either on loan, leased, or borrowed for which the University is responsible. This includes the personal property of staff used for teaching and research while located on University property. This use must be approved by the unit head.
  2. Property owned by the University which is continuously or occasionally used off premises. Subsidized laptops will be excluded at the end of the third year of receipt by the unit.
  3. Property which by its special nature requires specific insurance coverage. An example would be property donated to the University with stipulated insurance requirements.

What action should be taken

Our MISCELLANEOUS PROPERTY INSURANCE COVERAGE REQUEST FORM for all risk insurance should be addressed to supportrisk [dot] insurance [at] mcgill [dot] ca (Risk Management and Insurance) (514) 398-6251, and contain the following information:

  1. If a laptop, is it Subsidized?
  2. Make, model and serial number of the equipment
  3. Replacement values
  4. Address of the temporary location
  5. Person responsible for the equipment while it is off premises
  6. Start and end date for the coverage
  7. Account number to be charged, as this coverage is arranged at a direct cost to the unit.

What it is insured against

This is an all-risk insurance policy which insures against fire, water, malicious damage and theft (excludes wear and tear). Settlement of a loss is based on the specified value of the property at the time the insurance was arranged. It is therefore important to reflect its replacement value at the onset and update the value each year.

What the cost is

A minimum premium of $100 will apply and the deductible per loss is $1000.

Temporary coverage can be arranged. The minimum premium will still apply.

Laptops purchased through the Subsidized Laptop Program are required to be insured for a period of three years and a unit account is required. Alternatively, staff can obtain coverage through their home insurance policies.

What to do in the event of a loss

On University property:

  1. Call Campus Security.
  2. MUC Police will be called by Security, if necessary.
  3. Inform Risk Management and Insurance immediately of the incident if the item was insured, as the replacement will be coordinated by our office.
  4. Replacement of stolen University-owned equipment requires the approval of the University Planning Office.

Off University property:

  1. If insured, contact the local police and obtain a case number.
  2. Advise Risk Management and Insurance of all pertinent information, including the police report number.

Personal property

The University does not normally insure the personal property of staff. If staff members use their own personal property in connection with their University activities, they should ensure that their home insurance policy insures for loss outside their residence. This coverage is readily available at a reasonable cost. Arrangements can be made through the following insurance brokers, as they offer discounts to McGill staff for both home and car insurance:

ESSOR (formerly Lewis Apedaile & Hanson)
1080 Beaver Hall Hill, Suite 500
Montreal, Quebec H2Z 1X9
Tel.: 514-878-9373

Telfer International Inc.
511 Place D'Armes, Suite 601
Montreal, Quebec H2Y 2W7
Tel.: 514-284-2002

TD Meloche Mennox
50 Place Cremazie, 12th floor
Montreal, QC H2P 1B6
Tel.: 514-384-1112

Under certain conditions, McGill University will insure personal property of others. This coverage would be arranged at a direct cost to the unit requesting coverage, and must be approved by the unit head. The following criteria must be met:

  1. Insurance is unavailable elsewhere.
  2. The property is to be used solely for teaching and/or research purposes.

Loss control

Loss control can be defined as any conscious action intended to reduce the frequency, severity or unpredictability of accidental loss.

Because losses are disruptive and costly, the following is a short list of steps that can be taken readily to help reduce their impact:

Protection

  • Ensure equipment is stored in locked rooms where possible. Restricted access or a Log Book are recommended.
  • Sensitive equipment of high value should have a protective plastic cover to prevent water damage. Where possible, ceiling pans can be installed.
  • Books should be raised, and not stored directly on the floor. Removing documentation from desk surfaces and placing it in desk drawers or metal cabinets overnight provides added protection.
  • Computer files should have a backup off site.
  • Petty cash should be stored in strongboxes built into filing cabinets, as this practice acts as a deterrent during burglary attempts.
  • Paintings can be firmly mounted to the walls as an additional precaution.
  • Engraving equipment and furnishings can thwart thieves' plans to easily dispose of stolen property, and assist police in identifying and returning stolen goods.
  • Report suspicious individuals and occurrences to Security, so they have the opportunity to investigate.

Inventories

Although inventories are not required by our insurers when arranging coverage, preparing them is encouraged. Not only can they be used to establish total values at risk, they are very useful when replacing equipment after a loss.

The onus is on the University to prove its loss when an accident occurs, and consequently we are required to submit an itemized list of damaged equipment and furnishings to insurers after a loss. Keeping up-to-date listings expedites claim settlements.

All inventory lists are to be forwarded to the supportrisk [dot] insurance [at] mcgill [dot] ca (Risk Management and Insurance) (514) 398-6251 for record purposes. A brief description regarding make, model, serial number, replacement value and location should be included. Please let us work together to ensure that the property for which we are responsible is adequately protected and insured against loss.

Janice McGraw
Associate Director


Inquiries may be directed to:

supportrisk [dot] insurance [at] mcgill [dot] ca (Support), Insurance Assistant, or
janice [dot] mcgraw [at] mcgill [dot] ca (Janice McGraw), Associate Director

Risk Management and Insurance
James Administration Building
845 Sherbrooke Street West, Room 524
Tel.: 514-398-6251
Fax: 514-398-5902