Property Insurance Coverage
REG 07.35.4
Insurance and Risk Management
Authority: Vice Chancellor for Finance and Business
History: First Issued: April 8, 2002.
Contact Info: Insurance and Risk Management Director (919-515-6124)
1. Reporting of Property Values And Claims
1.1. NCSU has the responsibility to list
all state-owned buildings with the N.C. Department of Insurance and to determine
the replacement value of building or contents. University departments are
responsible to notify NCSU Insurance and Risk Management when a new building
or contents are added to their inventory of buildings.
1.2. Departments must annually update
their CAMS listing to insure adequate coverage. Departments may also wish
to add to their building and contents coverage. This can be accomplished through
use of Form IRM-02, Building and Contents Coverage and Contents Value Update.
1.3. Property losses are to be reported
to Insurance and Risk Management,extension 6124, Box Number 7521, by noon
of the next workday after the incident occurs. Verbal notification should
be followed up with written
confirmation together with repair and replacement invoices.
