Insurance for OCIO Equipment

April 13, 2020

The following information was provided by OCIO leadership and the Risk Management & Insurance department regarding insurance coverage for OCIO owned equipment (Computers, Skype equipment, networking equipment, etc).

The cost/deductible of these stolen or damaged computers/equipment would be charged to the department/units.

 The University’s property insurance will cover a loss at an Extension office if:

  • The property/equipment is owned by the University;
  • It is determined that the department or unit did not act manifestly outside the scope of employment or with malicious purpose;
  • The damaged equipment is reported to risk management within 24 hours of notice of the loss at insurance@osuedu.

The University generally has a $1M per occurrence deductible. As of now, the department or unit experiencing the loss is responsible for $25,000 internal deductible.

What does this mean for Extension?

The University insurance policy is meant to cover catastrophic loss. If your local budget allows for it, it may be appropriate to contract with a local insurance provider for supplemental property insurance to cover smaller losses (including but not limited to OCIO owned equipment). These policies are fairly inexpensive, and will requires a purchase order. Please contact Jesse Buxton if you have questions about insurance.