REG 07.35.04 – Property Insurance Coverage

Authority: Vice Chancellor for Finance and Administration

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, 919/515-6124, 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.