Looks like you didn't get a lot of response to this so I will jump in...

Our post award grant management is housed in our foundation, a separate entity from the campus.  As such, we have our own insurance (purchased through a joint purchase agreement with other auxiliary organizations).  If a PI purchases equipment with grant funds, we enter it into our fixed asset inventory and it is automatically covered by our property insurance.  The normal insurance expenses are part of our indirect costs.  If a grant incurs additional insurance expenses because of unusual requirements or special risks, that is billed by the insurance company separately and we consider that a direct expense to the grant.

Claims are made like any other insurance.  The adjuster usually asks for proof of purchase.

I would guess equipment to be used beside a volcano will be charged extra....  The insurance company will probably charge you additional liability costs for the people who will be using the equipment...

Good luck.

-----Original Message-----
From: Elaine Young [mailto:xxxxxx@UMBC.EDU]
Sent: Tuesday, March 12, 2002 8:57 AM
To: xxxxxx@HRINET.ORG
Subject: [RESADM-L] Theft/loss insurance

Do other universities carry insurance to provide for theft/loss of
equipment?  If so, how is it paid for?

Suppose you have a very expensive sensor taken off campus for a project on
volcanoes - the equipment happens to fall into the volcano and is lost - the
project cannot be completed without that sensor - how is replacement
managed?

Thanks for any comments

Elaine Young, Ph.D.
Associate Vice Provost for Research
University of Maryland, Baltimore County
1000 Hilltop Circle, Admin 204
Baltimore, Maryland 21250

(410) 455-1336
(410) 455 1876
xxxxxx@umbc.edu

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