Insurance and Risk Management

Insurance and Risk Management

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Queen's Insurance Coverage

Queen's has a comprehensive insurance program to protect all members of the university community, all sanctioned activities of the university, and all university property. Our office is responsible for purchasing insurance coverage and managing claims for the university.
 
NOTE:
Employee benefit insurance is managed through Human Resources http://www.queensu.ca/humanresources/.
Student benefit insurance is managed through the Alma Mater Society (AMS) http://myams.org/plan/ and the Society of Graduate and Professional Students (SGPS) https://sgps.ca/sgps-health-and-dental-plan/ 
 
The university's wide range of property and liability insurance policies cover:
  • general liability
  • educational errors and omissions
  • buildings and contents
  • boiler and machinery
  • property in transit
  • fine arts, and
  • vehicle insurance (university fleet and non-owned)

Liability

Queen's carries a General Liability policy through the Canadian Universities Reciprocal Insurance Exchange (CURIE) program which covers all premises and operations including blanket contractual liability, professional and malpractice liability, cross liability, tenant's legal liability, and employer's liability. The limit per occurrence is inclusive for bodily injury and property damage.

Property

The university's basic insurance policy covering damage to university property targets large losses (i.e., over $100,000).

Queen's does have a self-insurance program for losses below $100,000 (actual replacement cost only, for goods of similar make or comparable performance), but there is a $1,000 deductible that, must be paid out of a department or unit's own resources.

The deductible may be waived, however, if there are signs of "forcible entry" in the case of theft, or where the damage is the result of a flood or fire (i.e., circumstances beyond the control of a unit's personnel).

Property In Transit

Queen's carries a multi-peril transportation insurance policy that covers all university property in transit (either by railroad, public truckers, or transportation companies including the insured's own vehicle) from the time the insured property leaves the factory, store, or warehouse (the initial point of shipment) until it is delivered to its destination.

Some of the details of this policy are as follows:

  • this policy is effective in Canada and the continental United States;
  • the liability limit is $250,000;
  • the deductible is $5,000;
  • all shipments valued in excess of $100,000 must be reported to the insurance carrier.

University Fleet Vehicle Coverage

The university's insurance policy for University owned or fleet vehicles provides $5,000,000 in third-party liability coverage, as well as collision and comprehensive coverage for models three years old or newer.  Damage to older models is covered by the University's self-insurance program. In the event of a claim involving private passenger and light commercial vehicles, a $1,000 all perils deductible applies.

Rental Vehicle Coverage

In addition to liability coverage, the University carries coverage for collision and comprehensive perils up to $50,000 Unless the rental agency insists on more coverage, it should not be necessary to purchase additional insurance. In the event of a claim, a $2,500 all perils deductible applies involving private passenger and light commercial vehicles which is currently covered by the University's self-insurance program.