The Asset Management office is responsible for: 1) securing requested insurance coverage on property (CU owned or leased) that will be shipped or used for research worldwide; 2) the Safeware Computer coverage program; 3) CU owned vehicle insurance; 4) certificate of insurance requests; and 5) property loss claims.
This office works directly with the CU Risk Management office on all insurance requests. Below is a link to the CU Risk Management web pages which will offer additional information.
1. Property Insurance for Equipment in Transit, Field work, and Onboard / Over-the-Side of Research Vessel
It is the responsibility of the individual departments to request insurance coverage on owned or leased equipment that is shipped for research and other purposes. Most freight companies offer transit insurance but the cost can be relatively expensive when compared to the University’s program. Note: Equipment in transit between locations is not covered for loss or damage under Columbia University’s Insurance program unless the shipment has been reported and accepted for coverage. The Asset Management office works with the CU Risk Management Office to secure coverage as requested.
Transit Insurance Coverage
This can be requested by contacting Denyse Brown (845) 365-8437and through the LDEO Traffic department at the time of shipment. Current rates for transit insurance are as follows:
· Domestic US & Canada rate = 1.1655% (example: $50,000 shipment = premium rate of $582.75 Each Way)
· International Airfreight rate = 1.1655% (example: $50,000 shipment = premium rate of $582.75 Each Way)
· International Seafreight rate = 1.1655% (example: $50,000 shipment = premium rate of $582.75 Each Way)
Note: rates are subject to change so please contact Denyse at 845-365-8437845-365-8437 for further information or to confirm a coverage rate for your shipment. **Note: There is a $3,000,000 maximum coverage for Transit insurance.
In addition, insurance coverage is also available for research equipment that will be used in the “Field”, On Board a Research Vessel, or Over the Side Research Vessel. For this type of coverage, information will need to be sent by the Asset Management office to the Insurance carrier in order to obtain rate and secure coverage. Please contact Denyse two weeks prior to the time insurance is required so that we can work with the carrier to secure the coverage. For these requests
Below are the details for Field, On Board R/V and Over the Side R/V coverage:
Field Insurance Coverage
** Field Coverage reqeusts over $500,000 value (attended) subject to additional costs and approval from underwriters, fourteen (14) day minimum lead time
Field Coverage up to $200,000 value UNATTENDED = 1.1655% of valued insured
Field Coverage over $200,000 value UNATTENDED = 1.1655% **PLUS additional cost and approval to be determined by underwriters, 14 minimum lead time
Field Coverage up to $200,000 value ATTENDED = 1.1655% of value
Field Coverage over $200,000 value ATTENDED = 1.1655% **PLUS additional cost and approval to be determined by underwriters, 14 minimum lead time
R/V Insurance Coverage
On Board Research Vessel including to and from shore = 1.1655% of valued insured
Over the Side Research Vessel including to and from shore up to $200,000 value = 1.1655% of valued insured (Overboard, bolted alongside or underside, towed)
Over the side Research Vessel including to and from shore over $200,000 value = 1.1655% of valued insured (Overboard, bolted alongside or underside, towed) **PLUS additional cost and approval to be determined by underwriters, 14 day minimum lead time
UAV (Unattended Aerial Vehicles) Project Coverage
UAV coverage up to $200,000 value of equipment on board = 1.1655% of valued insured
UAV coverage over $200,000 value of equipment on board = 1.1655% of valued insured **PLUS additional cost and approval to be determined by underwriters, 14 day minimum lead time
Deductibles for any claims
Value of Equipment 0-$35,000 = $5,000 deductible
Value of Equipment $35,001+ = $25,000 deductible; or 10% of equipment value whichever is higher
2. Computer / Peripheral Equipment Insurance
LDEO Asset Management office offers additional coverage on both CU owned and personal computers and peripheral equipment. The Safeware, Inc. Policy covers computer & peripheral equipment from fire, theft, vandalism, power surges, accidental damages and natural disasters, including earthquakes and floods.
Note: If you choose not to take this additional coverage, the University Policy, "University Self Insured Program" covers only university equipment, with a $2500 deductible and has a territorial limit of the United States.
Policies available are for either USA/Canada ($0 deductible) or for International Coverage (with a $200 deductible). Current rate is about 5% of the value of the Unit.
If you are interested in coverage please email Denyse, firstname.lastname@example.org with the computer / peripheral type, model, serial number and replacement value. Payment for coverage can be made by Department account number, or by personal check made out to “The Trustees of Columbia University”.
NOTE: For personal owned equipment (ie. not owned by Columbia University), Safeware,Inc will write an individual policy for that employee who requests coverage. They will not be included under LDEO's policy. A chartstring must be provided to be charged for this policy coverage (Grants cannot be charged). Any questions please contact Denyse as 845-365-8437845-365-8437
Note: Please remember that if you have a laptop in your office make sure it is secure with a cable or put out of sight in a locked cabinet when not in use.
In addition, CUIT offers the Brigadoon PC PhoneHome software that can be downloaded from the CUIT link provided below. This software can help recover a lost or stolen laptop.