UAF Self-Insurance Coverage

The university is self-insured through a risk pool of funds. While we have coverage for claims that exceed our self-insured retention (deductible), those retentions are very high and we seldom need the services of our excess carriers. The cost of replenishing the risk pool is accomplished by annual assessments to each MAU (South East, Anchorage, and Fairbanks) based on various risk factors and claims history. That assessment is taken off the top of the MAU's initial budget. When more costs are assessed, less funding trickles down to the department level. In addition, claims paid out of the risk pool sometimes need to be paid back to the risk pool over a ten-year period in a manner similar to a bank loan, which increased the annual assessment even more.

The following list is not comprehensive and only represents the common inclusions and exclusions. There are also relatively minor exceptions to many of the items. Contact Annette Chism (474-6164) if you need to explore exceptions.

COVERED ITEMS (note: all must be in the course and scope of employment):

1. Auto physical damage (includes rental vehicles) - $2,500.00 per incident deductible for university owned or leased vehicles under five years old. For vehicles over five years old 100% of the cost is the responsibility of the controlling department.

2. Auto liability (includes rental vehicles) - 100% with no deductible.

3. University property - $1,000.00 per incident deductible for cases involving forced entry. If no forced entry is evident, 100% of the cost is the responsibility of the controlling department.

4. Professional liability (includes medical malpractice) - 100% with no deductible.

5. Structures and building equipment - 100% with no deductible.

6. Employment practices costs (grievances, suits, settlements, etc.) - $5,000.00 department deductible.

7. Most contracts and agreements as long as they are consistent with Grants and Contracts, Environmental Health, Safety, and Risk Management, and General Counsel guidelines - 100% with no deductible. Because we are self-insured, we cannot under any condition name additional insured's on a contract.

8. Fiduciary trust violations - 100% with no deductible.

EXCLUDED ITEMS:

1. Personal property of any kind.

2. Acting outside of the course and scope of employment including the results of criminal behavior.

3. University owned or leased vehicle property values for vehicles over five years old (liability is still covered at 100% with no deductible).

4. Business interruption costs.

5. Events and activities of student clubs, Greek organizations, and other student social groups.

6. Any personally owned vehicle coverage of any kind.

7. Damage to university property during authorized personal use.

8. The university may assign all claims costs to the responsible department if it is determined that there was negligence on the part of department administration.

Information taken from University of Alaska Anchorage, Risk Management Support's web site.

Page last update on 5/17/06 by A.Chism