Property Protection and Preservation
All Yeshiva University-owned property and equipment are insured under an All-Risk Property insurance policy. This policy provides coverage for the University-owned property (buildings and contents) in the event of such as fire, flood, vandalism and theft. Property insurance provides coverage for sudden and accidental events. Please notify the Risk Management Department when property is acquired and/or sold. Property that is leased or rented may be insured under this policy if so required by contract.
Personal property is not considered University-owned property and therefore is not covered by the University’s property insurance program. Further, the University does not assume responsibility for any lost or stolen personal property of any student, faculty or employee.
Departments that suffer damages are encouraged to protect University-owned property and to cooperate with Risk Management to promptly investigate, settle and mitigate the extent of property claims. Please notify the Risk Management Department when property is acquired and/or sold.
If the loss is due to criminal activity, contact Campus Security and/or local police immediately.
In the Event of a Loss (Damage or Theft)
1. In the event of theft, immediately report the theft to the Campus Security. Regardless of police report status, immediately report the claim to the Risk Management Department.
2. Protect the property from further loss or damage.
3. For Claim purposes you will need to furnish a complete inventory of the lost, destroyed, damaged and undamaged property, showing in detail quantity, cost and actual cash value. Please Note: The insurance company may want to inspect the damaged or undamaged property.
4. For any kind of damage, loss or theft, it is the department's responsibility to notify the Risk Management Department immediately upon the discovery of the incident. Please complete an Incident Report with the Campus Security. Items to include with written statement are: date of occurrence, detailed information regarding property damaged or stolen, serial numbers if available and substantiation of replacement cost of item.
5. It is the department’s responsibility to coordinate with the Procurement Department to arrange replacement of to repair the equipment(s). A copy of the Requisition or the Purchase Order is to be sent to the Risk Management Department.
6. Reimbursement for property loss or damage will be subject to the policy deductible amount. Generally, the affected department will be responsible for the first $100,000.00 per occurrence.
7. The affected department is responsible for mitigating property loss. This includes protecting property from further damage and seeking repair of property prior to claiming replacement costs.
Suggestions to Minimize Property Losses
Keep your departmental inventory list updated. Include location of the equipment and who is responsible for maintenance, daily checks, etc.
Back up data on computer and keep backup at another location. Confidential data must be backed up and stored on encrypted media. Users should familiarize themselves and adhere with the Data Retention and Protection of Confidential Information and Personal Information policies defined in the technology handbooks found at http://www.yu.edu/its.
Establish a check-out system for all equipment loaned or removed. If an item is taken out of storage and its location and intended date of return is not documented, it will be difficult to show an actual theft of the equipment. Without evidence of theft, a missing item becomes a case of "Mysterious Disappearance," which is not covered by insurance.
Make sure property is secured when not in use. Keep rooms or offices locked when unoccupied.
Be sure to turn off all appliances when building is unoccupied. Become familiar with the use a fire extinguisher. Do not allow combustibles in storage areas and hallways accumulate.
To prevent water damage, do not store equipment in areas susceptible to seepage. Be sure to close all windows at the end of the day for security reasons. This can help to prevent the freezing of pipes in the winter, which can lead to serious water damage.
Report all maintenance problems, such as water leaks, to Facilities Services.
Claim Reporting Hotline Information
24-Hour Claims Reporting Emergency Hotline: To assist clients with time-sensitive claims reporting issues, we have established an after-hour emergency hotline for continued client support. Clients can utilize this 24-hour claims reporting emergency hotline to indirectly contact an employee in the Claims area any time after business hours. By dialing the Crystal & Company toll-free phone number and selecting option 2, clients will be connected with a representative and alert the necessary employee(s) of the issue.
The 24-Hour Claims Reporting Emergency Hotline can be reached by calling (866) 215-5726.