Excesses applicable to departments

Important notice: change to the University property insurance excess

From 1 April 2009 the excess on all claims for minor University property losses (lost, stolen or damaged) for items such as computers, mobile phones, pagers, projectors, freezers, musical and scientific equipment will be reduced to $500.

In April 2008, following a review of our insurance practices, the University introduced an excess of $5000 for all property claims. This meant that the management of claims with a value of $5000 or less were the responsibility of the local unit making the claim.

Over the past year we have closely monitored the impact of this policy and listened to feedback received from the University community.

As a result we will be introducing a revised policy that reduces the excess to $500.

The new policy will come into effect on 1 April 2009 for all losses that occur after that date. Claims submitted after 1 April for losses sustained prior to that date will be processed in line with the previous policy.

This policy change relates to University property only. All other types of insurance claims, including travel and claims involving personal losses by staff or students during the course of University business remain unchanged.

The process for making a claim remains unchanged. To make a claim, click here

Property claims excess

All claims will be subject to the provisions, conditions and exclusions of the University’s insurance policies. When a property claim for loss or damage to University property is received (including theft, burglary or accidental loss or damage) it is subject to the following excess:

The Faculty/School/Department will be responsible to manage & fund claims relating to University assets up to $500 for any one incident.

Policy exclusions

All claims will be assessed by Audit and Risk Management to determine if the claim is covered by insurance and if an excess payment should apply.

The property policy excludes any loss or damage to property due to:

  • Reasonable care and attention not being taken to safeguard the property
  • Terrorism (applicable to overseas assets only)
  • Nuclear reaction or nuclear radiation or radioactive contamination
  • Deliberate acts
  • Loss or shortage disclosed during stocktake/inventory
  • Insect, animal or vermin damage
  • Deterioration, rust, corrosion, erosion, wear and tear, inherent vice or latent defect
  • Fungus, mould or mildew
  • Contamination due to the presence of pollution or hazardous material
  • Mechanical or electrical breakdown (except by direct lightning damage).

Definitions

Theft or burglary claim

A theft or burglary claim will be accepted in full only if all reasonable precautions have been taken to safeguard the equipment. Reasonable precautions would include securing and/or supervision of portable or valuable equipment. Claims will be accepted in full only if there has been:

  • Visible forced entry into the building/office; or
  • Forcible removal of secured securable equipment (normally by cutting, or otherwise overcoming, securing devices); or
  • Supervision of non securable equipment; or
  • Forcible removal of equipment from a motor vehicle provided that the equipment has been locked in the boot or placed in another secure or concealed location within the vehicle and not left in the vehicle for an extended period of time (e.g. overnight).

Accidental loss or damage claim

An accidental loss or damage claim will be accepted in full only where an appropriate level of care has been taken. Claims will be accepted in full only if there have been:

  • Appropriate procedures set in place and/or actions taken to prevent the loss from occurring; or
  • Due care and attention given to prevent any loss to the property; or
  • The claimant had no control to prevent the loss from occurring.