state office of risk management. insure over 6,300 properties insure about $9,276,126,069 worth of...

Property Claims & Insurance

State Office of Risk Management

Insure over 6,300 properties Insure about $9,276,126,069 worth of

property FY12/13 we had 55 property loss claims and

paid $3,597,993.98

Overview

Boiler & Machinery

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Electrical

Fire

Freezing

Lightning

Other Property

Theft

Vehicle Property

Water

Weather

0 2 4 6 8 10 12 14

Buildings Furniture Electronic equipment Boilers and machinery Fine art Vehicles and their attachments Outdoor fixtures Landscaping

What We Insure

Roads Employee personal items Mold and Asbestos mitigation Deferred maintenance Vermin/insect infestation Settling of walls, floors, or ceilings Land or land values Certain underground property

What We Don’t Insure

Is the loss over the $5,000 deductible? The State has a $500,000 deductible Fill out the Property/Crime Loss Form (found

on the State Risk web page) Send all supporting documents (photos,

price quotes, police reports)

Reporting a Property Loss

Once the loss is received, an action form with a claim number will be generated and sent back to the reporting agency within 5 business days

The action form is for your records as a receipt of filing a property loss with our office

You will be contacted by one of our insurance adjusters to obtain more information about the loss

In some cases, the adjuster will schedule a walkthrough of the damaged property

Property Loss Process

It is the responsibility of the reporting agency to take the necessary steps in order to prevent any further damages from occurring 

The mitigation efforts and costs associated with the loss will be taken into account when assessing the final costs of the claim

Property Loss Process

In instances where there are multiple losses to state owned property from a single event (i.e. hail storm, tornado, etc.), the $5000 deductible will be split amongst the reporting agencies depending on their percentage of the total loss.

Multiple Agency Losses

Any delays in reporting a property loss can jeopardize the adjusting process as well as the final payment of the claim

Do not delay the reporting of a claim while waiting for an estimate of repairs or replacement

Damaged property will only be repaired or replaced to like kind and quality

We do not pay for upgrades to damaged or stolen property

Important To Know

I review all the Emergency Project Requests for potential insurance claim coverage

If you file a Emergency Project Request please call or email me about a potential insurance claim

Reimbursement will go to the Office of the State Architect if the agency is using the EM funding

Emergency Requests

Nick WitkowskiW: 303-866-4971C: 303-718-1577nicholas.witkowski@state.co.us

Thank You.