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